Wasatch Launches Institutional Shares for 3 Funds(January 31, 2012)
Wasatch Funds announced today the launch of three new Institutional Share classes for three of its Funds: Wasatch Core Growth, Wasatch Small Cap Value, and Wasatch Large Cap Value.
The Institutional Share classes of the three Wasatch Funds are available to all investors at an initial minimum investment of $500,000. The prospectus for the new share classes states that Investors and/or Registered Investment Advisors (RIAs) and Broker-Dealers may aggregate clients to meet the minimum for the Institutional class.
The new Institutional Share classes are designed to be operated at a lower total expense ratio than the Retail Share classes, and the Funds have annual expense caps in place as follows:
|Wasatch Core Growth Fund
|Wasatch Small Cap Value Fund
|Wasatch Large Cap Value Fund
The Total Annual Operating Expenses for each fund class, including acquired fund fees are, for Wasatch Core Growth Fund: 1.23%, for Wasatch Small Cap Value Fund: 1.23%, for Wasatch Large Cap Value Fund: .98%.
*Wasatch Advisors has entered into a written expense limitation and fee waiver agreement under which it has agreed to limit the total expenses until at least 1/31/13, subject to renewal thereafter.
The new Institutional Classes, like all of the Investor (Retail) Classes of Wasatch Funds, have no 12b-1 fees and no sales charges.
“We are pleased to offer these new classes of shares to institutions, financial advisors, and retirement plans and individual investors who qualify,” said Eugene Podsiadlo, Director of Mutual Funds at Wasatch Advisors. “We remain committed to serving all of our direct, financial advisory and institutional clients in the structure that works best for them.”
Investors may purchase the new Institutional Share Classes starting today by contacting Wasatch Funds Customer Service at (800) 551-1700 or by visiting www.wasatchfunds.com. The new Wasatch Institutional Classes are also available through the Charles Schwab Mutual Fund Marketplace® and Fidelity's FundsNetwork.® Customer transaction fees may apply to the purchase/redemption of Institutional Share Classes from third-party brokers.
About Wasatch Advisors®
Wasatch Advisors is the investment manager to Wasatch Funds®, a family of no-load mutual funds, as well as separately managed institutional and individual portfolios. Wasatch Advisors pursues a disciplined approach to investing, focused on bottom-up, fundamental analysis to develop a deep understanding of the investment potential of individual companies. The portfolio managers employ a uniquely collaborative process to leverage the knowledge and skill of the entire Wasatch Advisors research team in making investment decisions. Wasatch Advisors is an employee-owned investment adviser founded in 1975 and headquartered in Salt Lake City, Utah. Total assets under management at 12/31/11 were $10.2 Billion.
RISKS: 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 www.wasatchfunds.com or call 800.551.1700. Please read it carefully before investing.
The investment objective of WIGRX and WICVX is long-term growth of capital. The investment objectives of WILCX are capital appreciation and income.
12b-1 fees are annual marketing or distribution fees that some mutual funds charge. These fees are considered operational expenses and, as such, are included in mutual fund expense ratios. Wasatch does not charge 12b-1 fees.
©2012 Wasatch Funds, All rights reserved. Wasatch Funds are distributed by ALPS Distributors, Inc.(ADI) Separately Managed Accounts and related investment advisory services are provided by Wasatch Advisors, a federally regulated Investment Advisor. ADI is not affiliated with Wasatch Advisors. Gene Podsiadlo is a registered principal of ADI.