Grandeur Peak Emerging Markets Opportunities Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-2.5%
1 yr return
5.2%
3 Yr Avg Return
-3.9%
5 Yr Avg Return
5.0%
Net Assets
$375 M
Holdings in Top 10
19.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.70%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 35.00%
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$2,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
GPEOX - Profile
Distributions
- YTD Total Return -2.5%
- 3 Yr Annualized Total Return -3.9%
- 5 Yr Annualized Total Return 5.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.50%
- Dividend Yield 0.1%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameGrandeur Peak Emerging Markets Opportunities Fund
-
Fund Family NameALPS Advised Funds
-
Inception DateDec 16, 2013
-
Shares Outstanding800657
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBlake Walker
Fund Description
The Fund currently invests primarily in micro- to mid-cap companies (as further described below) that are economically tied to emerging or frontier markets. Under normal market conditions, the Adviser will invest at least 80% of the Fund’s assets in equity securities of such companies. The Adviser considers a company to be economically tied to a country if at least one of the following attributes exists: the company (1) is organized in such country, (2) is headquartered in such country, (3) has its primary stock exchange listing in a market located in such country, or (4) during the company’s most recent fiscal year, derived at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in such country or has at least 50% of its assets in such country. Emerging and frontier markets include all countries excluded from the MSCI World Index of developed countries.
The Fund will typically invest in securities issued by companies economically tied to each of at least three emerging or frontier markets. The Fund will invest the Fund’s assets primarily in
companies with market capitalizations of less than $5 billion at the time of purchase. The Fund may invest a significant portion of its total assets in micro-cap companies with market capitalizations below $1 billion (up to 90% at the time of purchase under normal market conditions).
The Fund may also invest a portion of its total assets (up to 50% under normal market conditions) in securities of companies with market capitalizations of greater than $5 billion at the time of purchase when the companies meet our investment criteria.
The Adviser uses a process of quantitative screening of the financial trends and health of each company in its investment universe followed by “bottom up” fundamental analysis to identify growth companies that it believes are among the highest quality in their global peer group. This fundamental analysis generally includes a study of the company’s financial performance, its management, its competitors, its industry, its competitive advantage, its approach to environmental, social, and governance (ESG) topics, the geographic region(s) to which it is economically tied, and talking with the management team. In performing such analysis, the Adviser seeks to evaluate each company’s long-term potential. The Adviser also travels on an as-needed basis to visit companies, when it is considered safe to do so, and expects to speak directly with senior management.
The ESG criteria described above are collectively one of many factors that the Adviser uses as part of its fundamental analysis of a company. In analyzing a company’s approach to these ESG criteria, the Adviser assesses a number of factors through a proprietary analytical framework. This analysis may include factors that the Adviser believes are relevant, such as: local economic development priorities, shareholder rights, management oversight and transparency, board membership and structure, accounting standards, environmental policies, social justice policies, and labor relations. These factors are assessed quantitatively and qualitatively, as applicable, through the Adviser’s research and engagement process.
The Adviser incorporates the results of this analysis into its overall decision-making but does not specifically include or exclude a particular company solely based on the Adviser’s assessment of that company’s ESG factors. The Adviser generally applies this ESG analysis to companies in which the Fund invests, but not to the cash or cash equivalent positions in the Fund’s portfolio.
Because incorporating ESG considerations into the investment research process involves qualitative and subjective analysis, there can be no assurance that the methodology utilized by, or determinations made by, the Adviser will align with the beliefs or values of a particular investor, and other managers may make a different assessment of a company’s ESG criteria.
The Fund may also invest in growth companies that the Adviser believes have hit a temporary setback and therefore have a particularly appealing valuation relative to their long-term growth potential. At times, the Fund may invest in early-stage companies with limited or no earnings history and in Initial Public Offerings (IPOs).
The Adviser invests in what it believes to be the best investments available without regard to benchmark weightings in regions, countries, or industries. The Adviser may significantly shift Fund assets between asset classes, sectors and geographic regions based on where it believes the best growth opportunities and valuations currently exist. The Fund may invest a significant percentage of its assets in a few sectors or regions.
GPEOX - Performance
Return Ranking - Trailing
Period | GPEOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.5% | -6.1% | 14.4% | 98.38% |
1 Yr | 5.2% | -6.1% | 41.9% | 87.06% |
3 Yr | -3.9%* | -22.7% | 9.1% | 38.59% |
5 Yr | 5.0%* | -7.2% | 11.5% | 21.36% |
10 Yr | 4.2%* | -2.3% | 6.8% | 21.74% |
* Annualized
Return Ranking - Calendar
Period | GPEOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.9% | -6.5% | 35.5% | 56.55% |
2022 | -24.8% | -50.1% | -2.4% | 57.16% |
2021 | -3.3% | -33.1% | 22.5% | 37.30% |
2020 | 30.7% | -22.1% | 80.1% | 14.90% |
2019 | 23.3% | -0.7% | 42.0% | 19.94% |
Total Return Ranking - Trailing
Period | GPEOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.5% | -6.1% | 14.4% | 98.38% |
1 Yr | 5.2% | -6.1% | 41.9% | 87.06% |
3 Yr | -3.9%* | -22.7% | 9.1% | 38.59% |
5 Yr | 5.0%* | -7.2% | 11.5% | 21.36% |
10 Yr | 4.2%* | -2.3% | 6.8% | 21.74% |
* Annualized
Total Return Ranking - Calendar
Period | GPEOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.0% | -2.7% | 42.0% | 40.62% |
2022 | -24.7% | -42.2% | 1.9% | 66.90% |
2021 | 8.8% | -32.5% | 33.1% | 13.66% |
2020 | 30.7% | -20.0% | 81.6% | 17.51% |
2019 | 23.4% | 2.3% | 42.0% | 33.17% |
NAV & Total Return History
GPEOX - Holdings
Concentration Analysis
GPEOX | Category Low | Category High | GPEOX % Rank | |
---|---|---|---|---|
Net Assets | 375 M | 653 K | 96.1 B | 52.13% |
Number of Holdings | 119 | 10 | 6829 | 41.07% |
Net Assets in Top 10 | 91 M | 299 K | 17.9 B | 58.00% |
Weighting of Top 10 | 19.31% | 2.9% | 122.2% | 90.65% |
Top 10 Holdings
- Globant SA 2.70%
- Techtronic Industries Co., Ltd. 2.15%
- FPT Corp. 2.03%
- WuXi AppTec Co., Ltd. 1.91%
- Dino Polska SA 1.91%
- Inter Cars SA 1.87%
- Hypera SA 1.85%
- Sporton International, Inc. 1.66%
- Sinbon Electronics Co., Ltd. 1.62%
- JD.com, Inc. 1.60%
Asset Allocation
Weighting | Return Low | Return High | GPEOX % Rank | |
---|---|---|---|---|
Stocks | 95.67% | 0.00% | 103.65% | 66.67% |
Cash | 4.33% | -2.03% | 20.51% | 14.40% |
Preferred Stocks | 0.00% | 0.00% | 10.17% | 78.93% |
Other | 0.00% | -1.64% | 50.31% | 60.13% |
Convertible Bonds | 0.00% | 0.00% | 7.40% | 52.21% |
Bonds | 0.00% | 0.00% | 94.30% | 57.73% |
Stock Sector Breakdown
Weighting | Return Low | Return High | GPEOX % Rank | |
---|---|---|---|---|
Technology | 29.87% | 0.00% | 47.50% | 12.55% |
Consumer Cyclical | 19.59% | 0.00% | 48.94% | 8.10% |
Healthcare | 14.39% | 0.00% | 16.53% | 4.72% |
Financial Services | 12.73% | 0.00% | 48.86% | 91.36% |
Industrials | 9.26% | 0.00% | 43.53% | 19.70% |
Consumer Defense | 7.88% | 0.00% | 25.90% | 27.80% |
Communication Services | 2.07% | 0.00% | 39.29% | 96.36% |
Energy | 1.97% | 0.00% | 24.80% | 75.71% |
Real Estate | 1.34% | 0.00% | 17.15% | 59.92% |
Basic Materials | 0.89% | 0.00% | 30.03% | 95.55% |
Utilities | 0.00% | 0.00% | 39.12% | 84.48% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | GPEOX % Rank | |
---|---|---|---|---|
Non US | 86.99% | 0.00% | 100.18% | 41.47% |
US | 8.67% | 0.00% | 101.58% | 55.87% |
GPEOX - Expenses
Operational Fees
GPEOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.70% | 0.03% | 24.48% | 29.59% |
Management Fee | 1.35% | 0.00% | 2.00% | 97.20% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 37.69% |
Administrative Fee | N/A | 0.01% | 0.85% | N/A |
Sales Fees
GPEOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
GPEOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 2.00% | 1.00% | 2.00% | 48.33% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
GPEOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 35.00% | 0.00% | 189.00% | 33.82% |
GPEOX - Distributions
Dividend Yield Analysis
GPEOX | Category Low | Category High | GPEOX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.15% | 0.00% | 9.88% | 12.13% |
Dividend Distribution Analysis
GPEOX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annual | Annual | Annual |
Net Income Ratio Analysis
GPEOX | Category Low | Category High | GPEOX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.50% | -1.98% | 17.62% | 89.21% |
Capital Gain Distribution Analysis
GPEOX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 21, 2023 | $0.486 | OrdinaryDividend |
Dec 21, 2022 | $0.019 | OrdinaryDividend |
Dec 29, 2020 | $0.003 | OrdinaryDividend |
Dec 27, 2019 | $0.008 | OrdinaryDividend |
Dec 27, 2018 | $0.016 | OrdinaryDividend |
Dec 27, 2017 | $0.030 | OrdinaryDividend |
Dec 28, 2016 | $0.040 | OrdinaryDividend |
GPEOX - Fund Manager Analysis
Managers
Blake Walker
Start Date
Tenure
Tenure Rank
Dec 16, 2013
8.46
8.5%
Blake H. Walker is the Chief Investment Officer and Executive Vice President for Grandeur Peak Global Advisors. Before co-founding Grandeur Peak Global Advisors in 2011, Mr. Walker was a portfolio manager co-managing two funds at Wasatch Advisors. Mr. Walker joined the research team at Wasatch Advisors in 2001. Mr. Walker has a B.S. in Accounting from Brigham Young University. He is originally from Toronto, Canada. Mr. Walker speaks French and lived in France for two years.
Stuart Rigby
Start Date
Tenure
Tenure Rank
Dec 01, 2017
4.5
4.5%
Mr. Rigby is a Sr. Research Analyst at Grandeur Peak Global Advisors, with a specialty focus on the technology sector globally. Mr. Rigby joined Grandeur Peak in 2012 after receiving an MBA from Cornell University. During his graduate program he interned at Epic Ventures and Opteris. Prior to that, Mr. Rigby spent two years as a product manager at Alliance Health Networks (social internet) and four years as a software engineer at lntelisum (3D software).
Liping Cai
Start Date
Tenure
Tenure Rank
Aug 31, 2018
3.75
3.8%
Ms. Cai has been a portfolio manager for the Grandeur Peak Global Reach Fund since 2015 and for the Grandeur Peak Emerging Markets Opportunities Fund since 2018, and is also a Sr. Research Analyst at Grandeur Peak Global Advisors, with a specialty focus on the health care sector globally. Ms. Cai joined Grandeur Peak in 2013. She spent the previous six years on the equity research team at William Blair & Company specializing in the healthcare, retail, and the real estate sectors, and most recently heading up the firm’s China-based research team. From 1999-2006, Ms. Cai worked in the healthcare field for Fair Isaac Corporation (Health Care Strategy Consultant), Abbott Laboratories (Senior Market Analyst), Biogen Idec (Summer Marketing Associate), and Genentech, now Roche (Research Associate).
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 33.71 | 6.53 | 13.42 |