Wasatch Emerging Markets Small Cap Fund® (WAEMX) 

Managed by a team of Wasatch portfolio managers led by
Ajay Krishnan, CFA, Dan Chace, CFA, Roger Edgley, CFA, Andrey Kutuzov, CFA, Scott Thomas, CFA and Kevin Unger, CFA

Roger Edgley, Andrey Kutuzov, and Scott Thomas bring a wealth of experience to the Wasatch Emerging Markets Small Cap Fund. See how their global experience adds to the management of this emerging markets fund.

Ajay Krishnan
Ajay Krishnan, CFA
Fund Tenure: 3 months
Wasatch Tenure:24 years
• Lead Portfolio Manager, Wasatch Emerging Markets Select Fund
• Lead Portfolio Manager, Wasatch Emerging India Fund
• Lead Portfolio Manager, Wasatch Global Opportunities Fund
• Lead Portfolio Manager, Wasatch Emerging Markets Small Cap Fund
• Former Portfolio Manager, Wasatch Ultra Growth Fund
Industry Experience:24 years
Education:Utah State University, M.B.A.

Bombay University, B.S. in Physics and Minor in Mathematics

Mr. Krishnan is the Lead Portfolio Manager for the Wasatch Emerging Markets Select, Wasatch Emerging India, and Wasatch Emerging Markets Small Cap Funds.  He is also a Lead Portfolio Manager for the Wasatch Global Opportunities Fund.  He was a Portfolio Manager for the Ultra Growth Fund from 2000 to 2013.  In addition, he was a Portfolio Manager for the World Innovators Fund from 2000 to 2007.  He joined Wasatch Advisors as a Research Analyst in 1994.  He was a Research Analyst on the Ultra Growth Fund prior to becoming a Portfolio Manager.

Mr. Krishnan earned a Master of Business Administration from Utah State University, where he also worked as a graduate assistant.  He completed his undergraduate degree at Bombay University, earning a Bachelor of Science in Physics with a Minor in Mathematics. He is also a CFA charterholder and a member of the Salt Lake City Society of Financial Analysts.

Ajay is a native of Mumbai, India and speaks Hindi and Malayalam.  He enjoys traveling, reading, playing squash and road biking.

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Dan Chace
Dan Chace, CFA
Fund Tenure: 3 months
Wasatch Tenure:16 years
• Portfolio Manager, Wasatch Micro Cap Fund
• Portfolio Manager, Wasatch Emerging Markets Small Cap Fund
• Former Senior Analyst, Wasatch Ultra Growth Fund
• Former Senior Analyst, Wasatch International Growth Fund
Industry Experience:20 years
• Equities analyst, J.P. Morgan Securities
• Equities analyst, SG Cowen Securities
• Equities analyst, Merrill Lynch
• Equities analyst, Oppenheimer
Education:Harvard University, M.B.A.

Pomona College, B.A. in Cultural Anthropology

Mr. Chace has been a Portfolio Manager for Wasatch Micro Cap Fund since 2004 and for Wasatch Emerging Markets Small Cap Fund since 2019.  He joined Wasatch Advisors in 2002 as a Senior Research Analyst on Wasatch Ultra Growth and Wasatch International Growth Funds.

Mr. Chace has been in the finance industry since 1996, working in the New York offices of J.P. Morgan Securities, SG Cowen Securities, Merrill Lynch, and Oppenheimer & Co.  His work in New York was as an equities analyst following Latin American financial institutions.

Mr. Chace earned a Master of Business Administration from Harvard University.  He completed his undergraduate studies at Pomona College, receiving a Bachelor of Arts in Cultural Anthropology.  He is also a CFA charterholder.

Mr. Chace spent two years in Paraguay with the United States Peace Corps, where he was a volunteer working on water sanitation and health infrastructure projects in rural communities.

Dan is a New Jersey native and speaks Spanish.  He enjoys competitive sports and the outdoors.

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Roger Edgley
Roger Edgley, CFA
Fund Tenure: 11 years
Wasatch Tenure:17 years
• Director of International Research
• Portfolio Manager, Wasatch International Growth Fund
• Portfolio Manager, Wasatch Emerging Markets Small Cap Fund
• Portfolio Manager, Wasatch Emerging Markets Select Fund
• Former Lead Portfolio Manager, Wasatch International Opportunities Fund
Industry Experience:28 years
• Director of international research and portfolio manager, Acorn Funds
• Financial services analyst, Societe Generale Asia/Crosby Securities, Hong Kong
• Analyst, Strategic Asset Management
Education:University of Sussex, M.A. in Philosophy

London School of Economics, M.S. in Social Psychology/Statistics

University of Hertfordshire, B.S. in Psychology

Mr. Edgley is Director of International Research and a Portfolio Manager for the Wasatch International Growth, Wasatch Emerging Markets Small Cap, and Wasatch Emerging Markets Select Fund.  In addition, he was the Lead Portfolio Manager for the Wasatch International Opportunities Fund from 2005 to 2015.  He joined Wasatch Advisors in 2002 and is a member of the Board of Directors.  A native of the United Kingdom, he also holds U.S. citizenship and has many years of international investing experience.

Prior to joining Wasatch Advisors, Mr. Edgley was a principal, director of international research and portfolio manager for Chicago-based Liberty Wanger Asset Management, which managed the Acorn Funds.  He was also a co-manager for the Acorn Foreign Forty Fund.  Earlier, he worked in Hong Kong as a financial-services analyst for Societe Generale Asia/Crosby Securities and as an analyst for Strategic Asset Management.

Mr. Edgley has a Master of Arts in Philosophy from the University of Sussex and a Master of Science in Social Psychology with Statistics from the London School of Economics, where he was awarded a Social Science Research Scholarship.  He earned a Bachelor of Science with honors in Psychology from the University of Hertfordshire.  He is also a CFA charterholder.

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Andrey Kutuzov, CFA
Fund Tenure: 5 years
Wasatch Tenure:10 years
• Associate Portfolio Manager, Wasatch Emerging Markets Small Cap Fund
• Former Senior Analyst, Wasatch International Research Team
Industry Experience:13 years
• Senior auditor, Deloitte
Education:University of Wisconsin, M.B.A., Applied Security Analyst Program

University of Wisconsin, Master’s of Accounting

University of Wisconsin, B.S. in Accounting

Mr. Kutuzov has been an Associate Portfolio Manager for the Wasatch Emerging Markets Small Cap Fund since 2014.  He joined Wasatch Advisors in 2008 as a Senior Equities Analyst on the international research team.  He also interned at Wasatch in 2007, while studying at the University of Wisconsin-Madison.

Prior to joining Wasatch Advisors, Mr. Kutuzov earned a Master of Business Administration from the University of Wisconsin’s Applied Security Analysis Program.  While earning his degree, he was on a team that managed a student-run long/short equity portfolio.  Prior to graduate school, he was a senior auditor at Deloitte, where his work included designing, performing, and supervising financial and internal control audits of commercial banks and investment companies under the U.S. GAAP as well as various international accounting standards.

Mr. Kutuzov also obtained a Bachelor’s and a Master’s of Accounting Degree at the University of Wisconsin-Madison.  While pursuing his Master’s Degree, he taught an undergraduate course in Managerial Accounting.  He is a Certified Public Accountant. Andrey is a native Russian speaker and a CFA charterholder.

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Scott Thomas
Scott Thomas, CFA
Fund Tenure: 4 years
Wasatch Tenure:7 years
• Lead Portfolio Manager, Wasatch Frontier Emerging Small Countries Fund
• Associate Portfolio Manager, Wasatch Emerging Markets Small Cap Fund
• Associate Portfolio Manager, Wasatch Emerging Markets Select Fund
Industry Experience:14 years
• Vice President, Morgan Stanley & Co.
• Senior Associate, KPMG LLP
Education:Brigham Young University, B.S. in Accounting

Mr. Thomas has been the Lead Portfolio Manager for Wasatch Frontier Emerging Small Countries Fund since 2019 and has been an Associate Portfolio Manager for Wasatch Emerging Markets Small Cap and Wasatch Emerging Markets Select Funds since 2015 and 2016, respectively.  He joined Wasatch Advisors in 2012 as a Senior Equities Analyst on the international research team.

Prior to joining Wasatch Advisors, Mr. Thomas was a vice president at Morgan Stanley & Co. in New York City and worked in equity research for six years.  He also worked in the M&A consulting group at KPMG LLP in San Francisco and New York.

In addition to the CFA and CPA certifications, Mr. Thomas holds a Bachelor of Science in Accounting from Brigham Young University.

Prior to returning to Utah, Scott lived in Madagascar and La Reunion, France.  He speaks fluent French and has conversational knowledge of Malagasy and Reunion Creole.

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Kevin
Kevin Unger, CFA
Fund Tenure: 1 year
Wasatch Tenure:3 years
• Associate Portfolio Manager, Wasatch Emerging Markets Small Cap Fund
• Former Analyst, Wasatch International Research Team
Industry Experience:6 years
• Analyst, Wells Capital Management, Berkeley Street Emerging Markets Equity Fund
• Analyst, NERA Economic Consulting
Education:Wharton School, University of Pennsylvania, B.S. in Economics

Mr. Unger has been an associate portfolio manager for the Emerging Markets Small Cap Fund since 2018. He joined Wasatch Advisors in 2015 as a research analyst focused on emerging markets.

Prior to joining Wasatch Advisors, Mr. Unger was an analyst for Wells Capital Management, where he worked on the Berkeley Street Emerging Markets Equity Fund.  Earlier, he was an analyst in the energy and securities groups at NERA Economic Consulting, where he conducted econometric analyses across numerous regulated industries.

Mr. Unger received his Bachelor of Science in Economics from the Wharton School at the University of Pennsylvania.  He is also a CFA charterholder.

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Investing in small or 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, especially in emerging markets, entails special risks, such as currency fluctuations and political uncertainties, which are described in more detail in the prospectus.

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