Grandeur Peak Celebrates 10-Year Mark of Global Micro Cap Fund

Grandeur Peak Global Advisors® announced that the Grandeur Peak Global Micro Cap Fund (GPMCX), celebrated its ten-year anniversary last month. As of October 31, 2025, the Fund was ranked in the top12% of its Morningstar category over the ten-year period. Launched on October 20, 2015, the Global Micro Cap Fund offers investors a global growth strategy focused on identifying what it considers to be the highest- quality companies in the micro-cap space worldwide.

Portfolio Managers Spencer Hackett and Amy Hu Sunderland, CFA®, reflected on the Fund’s milestone: “As active managers, we have built our reputation by venturing off the beaten path to uncover unique small companies around the world. The micro-cap universe is vast and constantly evolving with new IPOs. Many of these businesses remain overlooked – especially as the investing world shifts toward passive strategies – creating rich opportunities for those willing to look deeper.” Hackett and Sunderland also shared, “These businesses typically have high inside ownership, strong balance sheets, and healthy free cash flows and have the potential to generate returns on invested capital above the industry average, while still trading at a discount. Finding a successful concept in one area of the world can often be repeated in additional geographies.”

Robert Gardiner, Chairman & Co-Founder, and Guardian Portfolio Manager noted, “The Global Micro Cap Fund has been an essential component in our team-led research process.  We turn over every stone to find high-quality, fast-growing companies and create a pipeline of names from our Micro Cap strategy to our Small- and Mid-cap strategies.  Over the years, we’ve seen long-term winners from the Global Micro Cap Fund graduate into our other portfolios – an example of the depth of opportunity in this segment of the market.” 

Driven by a bottom-up, fundamental approach, Grandeur Peak believes having an allocation to Global Growth in the Micro-to Midcap space can be a sound investment strategy in any market. The Global Micro Cap Fund, with its nimble asset base, will continue to be a key part of the firm’s team-based research process.

For more details on the strong relative performance of the Global Micro Cap Fund over its first ten years, please visit our website.

About Grandeur Peak Global Advisors
Grandeur Peak Global Advisors is comprised of a highly seasoned and collaborative research team taking a bottom-up approach to investing using disciplined global screening, rigorous company due diligence, and close attention to valuation to find what we believe to be the best investment opportunities around the world. Our bias is towards micro- to mid-cap companies because we believe we can find faster growth among these firms, and often at better valuations due to the lack of analyst coverage. Grandeur Peak Global Advisors, LLC is an employee-owned investment adviser headquartered in Salt Lake City, Utah and registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.

The objective of all the Grandeur Peak Funds is long-term growth of capital.

Performance for GPMCX as of 10/20/2025
(Returns are annualized for periods over 1 year, given in %)

Standardized Performance for GPMCX as of 10/31/25
(Returns are annualized for periods over 1 year, given in %)

Data shows past performance, which is not indicative of future performance. Current performance may be lower or higher than the data quoted. For the most recent month-end performance data, visit grandeurpeakglobal.com. Investment returns and principal value will fluctuate and shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please call toll-free 1-855-377-PEAK (7235). The Advisor may absorb certain Fund expenses, without which total return would have been lower. Net Expense Ratio reflects the expense waiver, if any, contractually agreed to through September 1, 2026. A 2% redemption fee will be deducted on fund shares held 30 days or less. Performance data does not reflect this redemption fee or taxes.

Total Expense Ratio: Gross 1.99% / Net 2.00% for GPMCX

*Inception date for GPMCX is 10/20/2015.

An investor should consider investment objectives, risks, charges, and expenses carefully before investing. To obtain a prospectus, containing this and other information, visit grandeurpeakglobal.com or call 1-855-377-PEAK (7325). Please read it carefully before investing.

Investing in small and micro-cap funds will be more volatile, and loss of principal could be greater than investing in large cap or more diversified funds. Investing in foreign securities entails special risks, such as currency fluctuations and political uncertainties, which are described in more detail in the prospectus. Investments in emerging markets are subject to the same risks as other foreign securities and may be subject to greater risks than investments in foreign countries with more established economies and securities markets. Diversification does not eliminate the risk of experiencing investment loss.

Grandeur Peak Funds are distributed by Northern Lights Distributors, LLC (Member FINRA/SIPC). Northern Lights Distributors, LLC and Grandeur Peak Global Advisors, LLC. are not affiliated.

[I] The MSCI World Micro Cap Index is designed to measure the equity market performance of micro-cap companies across developed markets globally. It does not include emerging markets.

[II] The MSCI ACWI Small Cap Index is designed to measure the equity market performance of small-cap companies across developed and emerging markets globally.

[III] The Morningstar Category Average: Foreign Small/Mid Growth: Foreign small/mid-growth portfolios invest in international stocks that are smaller, growing faster, and higher-priced than other stocks. These portfolios primarily invest in stocks that fall in the bottom 30% of each economically integrated market (such as Europe or Asia ex-Japan). Growth is defined based on fast growth (high growth rates for earnings, sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields). These portfolios typically will have less than 20% of assets invested in U.S. stocks.

[IV] The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. 

Source: Morningstar Direct. Rankings are based on total return. Morningstar Ranking/Number of Funds in Category displays the Fund’s actual rank within its Morningstar Category based on average annual total return and number of funds in that Category. The returns assume reinvestment of dividends and do not reflect an applicable sales charge. Absent expense limitation, total return would be less. Morningstar Percentile Rankings are the Fund’s total return rank relative to all funds in the same Morningstar category, where 1 is the highest percentile and 100 is the lowest percentile. Data shows past performance. © 2025 Morningstar, Inc. All rights reserved.