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Portfolio Manager Jeff Cardon to Retire at the End of the Year

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Wasatch Portfolio Manager Jeff Cardon to Retire at the End of the Year

 

Additional Portfolio Managers Named to Small Cap Growth And Core Growth Funds

 

Salt Lake City, Utah, August 29, 2017—The Wasatch Advisors Board of Directors announced that Jeff Cardon will retire from the firm effective December 31, 2017. Wasatch also announced the addition of two Portfolio Managers to the Small Cap Growth Fund, and one Portfolio Manager to the Core Growth Fund and related institutional portfolios.

Mr. Cardon, a 37-year Wasatch veteran, will remain on the Wasatch Advisors Board of Directors. JB Taylor, who was named CEO in 2016 and joined Mr. Cardon as Portfolio Manager of the Small Cap Growth Fund in 2013, will continue as the Lead Portfolio Manager of the Fund and related institutional portfolios.  Mr. Taylor, a 21-year Wasatch veteran, will also remain the Lead Portfolio Manager of the Core Growth Fund, which he has managed for over 16 years.

“Wasatch has been my life’s work and the place where I have made so many friends and worked with incredible colleagues,” said Mr. Cardon. “After several years of planned succession, I am happy to retire knowing Wasatch is in a strong position with remarkable leadership and the most talented bench of investment professionals in our history.  For all of the incredible amount of growth our firm has enjoyed, the most satisfying accomplishment has been helping build a money management firm with a deep culture of integrity and commitment to serving our clients’ interests.”

“It has been an honor to work with Jeff over more than two decades,” said JB Taylor, CEO of Wasatch Advisors. “His steady leadership and constant pursuit of excellence have influenced all of us. We are grateful for Jeff’s contributions to our investment process and culture over the past 37 years. We wish him well in his future retirement and we are looking forward to his continued  influence as a member of our Board of Directors. The firm remains in a strong position to serve its clients as an independent, 100% employee owned client-focused asset manager.”

Ken Korngiebel and Ryan Snow will join Mr. Taylor as Portfolio Managers of the Small Cap Growth Fund and related institutional portfolios. Mike Valentine will join Mr. Taylor and Paul Lambert as a Portfolio Manager of the Core Growth Fund.  Both the Small Cap Growth and Core Growth Funds will continue to be supported by the entire Wasatch U.S. small-cap equity research team, which is comprised of 12 portfolio managers/analysts with an average tenure at Wasatch of 14 years.

 

Ken Korngiebel, CFA
Lead Portfolio Manager, Wasatch Micro Cap Fund
Portfolio Manager, Wasatch Small Cap Growth Fund

Mr. Korngiebel joined Wasatch Advisors in 2015. His investment career has spanned more than 20 years, during which he has covered small-, mid- and large-cap growth stocks across all sectors.

Prior to joining Wasatch Advisors, Mr. Korngiebel was a founder, partner and lead portfolio manager at Montibus Capital Management, which was a business backed by Stifel Financial Corp. At Montibus, he led a team of five investment professionals from 2006 to 2015, managing long-only small- and SMID-cap growth portfolios totaling $1 billion in assets.

Mr. Korngiebel holds a Master of Business Administration from the Wharton School of the University of Pennsylvania, and a Bachelor of Arts in Economics and Spanish from Stanford University. He is also a CFA charterholder.

Ryan Snow
Portfolio Manager, Wasatch Small Cap Growth Fund
Mr. Snow has been a Portfolio Manager at Wasatch since 2004. He has spent most of his career at Wasatch Advisors, joining the firm in 2000 as a Research Analyst on the Small Cap Growth Fund.

Mr. Snow earned a Bachelor of Science in Finance from the University of Utah.

Mike Valentine
Portfolio Manager, Wasatch Core Growth Fund
Mr. Valentine joined Wasatch Advisors in 2016. Since entering the asset-management business in 2005, he has covered various sectors including health care, technology and basic materials across all market caps and geographies.

Prior to joining Wasatch Advisors, Mr. Valentine was a portfolio manager at Point72 in Boston where he led a team of analysts and managed a long/short fund focused on the technology and telecom sectors. Prior to Point72, he worked from 2005 to 2012 as an analyst and a portfolio manager at Fidelity Investments in Boston where he developed a technology-sector strategy for a group of diversified funds in addition to managing long-only sector portfolios.

Mr. Valentine holds a Bachelor of Arts degree in Computer Science from Amherst College in Amherst, MA.

About Wasatch Advisors®

Wasatch Advisors is the investment manager to Wasatch Funds, as well as to 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.  In making investment decisions, the portfolio managers employ a uniquely collaborative process to leverage the knowledge and skill of the entire Wasatch Advisors research team.  Wasatch Advisors is an employee-owned investment advisor founded in 1975 and headquartered in Salt Lake City, Utah.  The firm had $15.9 billion in assets under management as of July 31, 2017.  Wasatch Advisors, Inc. is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.

 

Contact Information:

Eric Bergeson:  801.983.4119 / eric@wasatchadvisors.com

Jody Lowe:  414.322.9311 / jody@lowecom.com

 

 

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RISKS AND DISCLOSURES:

 

Mutual-fund investing involves risks, and loss of principal is possible.  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 and frontier markets, entails special risks, such as unstable currencies, highly volatile securities markets, and political and social instability, which are described in more detail in the prospectus.

 

The investment objective of the Small Cap Growth Fund and Core Growth Fund is long-term growth of capital.

 

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 the prospectus carefully before investing.

Separately managed accounts and related investment advisory services are provided by Wasatch Advisors, Inc., a federally regulated investment advisor.

CFA® is a trademark owned by CFA Institute.

© 2017 Wasatch Funds.  All rights reserved.  Wasatch Funds are distributed by ALPS Distributors, Inc. (ADI).  Eric Bergeson is a registered representative of ADI.  ADI is not affiliated with Wasatch Advisors, Inc.