Keeping the Global Reach Fund very small and nimble is compelling because we’re finding it useful for our ‘master’ fund to have the greatest investment flexibility as we discover and peel the onion on new names.
Salt Lake City, UT (PRWEB) April 16, 2014
Grandeur Peak Global Advisors announced today that it will soft close the Grandeur Peak Global Reach Fund (GPRIX/GPROX) on April 30, 2014. The Fund will remain open to existing investors, but will no longer accept new shareholders after April 30th. Retirement plans and financial advisors with existing clients in the Fund will still be able to invest in the Fund for existing as well as new clients as long as their clearing platform will allow this exception.
The Global Reach Fund currently has $101M under management. Said President Eric Huefner, “We are closing the Global Reach Fund smaller than originally planned. We look at capacity at the firm level, and across Grandeur Peak we now have over $2.1B under management. We have talked from the founding of the firm about restricting our total assets invested in global small/micro cap stocks to around $3B. Soft closing the Global Reach Fund now will allow continued access for existing shareholders while also preserving capacity for the remaining global small/micro cap funds we intend to launch over the coming years.”
Blake Walker, CIO, added, “The Global Reach Fund is our flagship fund. Its 400 holdings (as of 3/31/14) encompass the stocks we believe are the most appealing investments around the world. The other Grandeur Peak Funds are each a specific subset of the Global Reach Fund. Keeping the Global Reach Fund very small and nimble is compelling because we’re finding it useful for our ‘master’ fund to have the greatest investment flexibility as we discover and peel the onion on new names.”
Of the four Grandeur Peak Funds, two are currently hard closed (Global Opportunities and International Opportunities), one is soft closed (Emerging Markets Opportunities), and after April 30th the remaining Global Reach Fund will also be soft closed. As described by Robert Gardiner, CEO, “We have no immediate plans to launch another fund. It is unfortunate that we will no longer have a product open to new investors, but our ultimate goal is to be a premier global small cap investment firm and our greatest priority is to deliver for our existing clients. We do intend to launch additional funds, but we will do so at the appropriate time. Our firm has grown rapidly in our first three years. I am very pleased with how our team has gelled, but for now the right focus for our team is on our existing products.”
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 small and micro 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 Grandeur Peak Funds is long-term growth of capital. The Global Reach Fund has limited operating history.
Mutual fund investing involves risks and loss of principal is possible. 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.
An investor should consider investment objectives, risks, charges, and expenses carefully before investing. To obtain a prospectus, containing this and other information, visit http://www.grandeurpeakglobal.com or call 1-855-377-PEAK (7325). Please read it carefully before investing.
Grandeur Peak Funds will deduct a 2.00% redemption proceeds fee on Fund shares held 60 days or less. For more complete information including charges, risks and expenses, read the prospectus carefully.
Grandeur Peak Funds are distributed by ALPS Distributors, Inc (“ADI”). Eric Huefner is a registered representative of ADI.