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Morningstar Nominates Jeff Cardon for Domestic Stock Manager of the Year



Morningstar Nominates Jeff Cardon for Domestic-Stock Manager of the Year

Small Cap Growth Fund Finishes “Lost Decade” with Top 9% Returns

Salt Lake City , Jan 4, 2010 – Morningstar, Inc. recently named Jeff Cardon as one of their five nominees for Domestic-Stock Manager of the Year. This is profound recognition of Jeff’s success and contribution in 2009 and over the past 23 years at the helm of the Wasatch Small Cap Growth Fund (WAAEX).

The Small Cap Growth Fund finished the year up 48.74%, versus a gain of 34.47% for its primary benchmark, the Russell 2000 Growth Index. This placed the Fund in the Top 10% of its Morningstar Small Growth peer group (778 funds) based on total return for the year ended 12/31/09.

More importantly to Mr. Cardon is the Fund’s 10yr and Since Inception track record. Over what many have termed the “lost decade”—because in rare form the market was essentially flat over the decade—Mr. Cardon achieved a 6.37% annualized return versus a -1.37% return for the benchmark index, which placed the Fund in the Top 9% of all 317 funds in the Morningstar Small Growth peer group for the 10 years ended 12/31/09.

In their December nomination, Morningstar said “Cardon is a manager who has flown a little under the radar, but that could change given this fund's 43% year-to-date return. He looks for companies with clean balance sheets and high returns on equity—the sort of companies that he believes produce steady earnings growth. As a result, he'll miss out on big runs in cyclical sectors like energy, but he does just fine in other years. Since the fund's late 1986 inception, it has posted an 11% average annual return.”

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Total Returns

As of 12/31/09









Since Inception*













Morningstar Rank

(Small Growth)

Top 10%

(778 funds)

Top 17%

(669 funds)

Top 37%

(563 funds)

Top 9%

(317 funds)



*Inception: 12/6/86

Data shows past performance, which is not indicative of future performance. Current performance may be lower or higher than the data quoted. For the most recent month-end performance data please visit The Advisor may absorb certain Fund expenses, without which total return would have been lower. Investment returns and principal value will fluctuate and shares, when redeemed, may be worth more or less than their original cost. Total Expense Ratio: 1.21%

Wasatch Funds will deduct a 2.00% redemption proceeds fee on Fund shares held 60 days or less. Performance data does not reflect the deduction of fees or taxes, which if reflected, would reduce the performance quoted.

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 multiple eyes 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.  Wasatch Advisors, Inc. is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. 


Mutual fund investing involves risks and loss of principal is possible.  Investing in small cap funds will be more volatile and loss of principal could be greater than investing in large cap or more diversified funds.

An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus, containing this and other information, visit or call 800.551.1700. Please read it carefully before investing.

The Russell 2000 Growth Index measures the performance of Russell 2000 Index companies with higher price-to-book ratios and higher forecasted growth values. You cannot invest directly in this or any index.

The Morningstar Ranking is the Funds total-return percentile rank relative to all funds within the same Morningstar Category over a specified time period and is subject to change. ©2010 Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

©2010 Wasatch Funds, All rights reserved. Wasatch Funds are distributed by ALPS Distributors, Inc.  Eric Huefner is a registered representative of ALPS Distributors, Inc.                  

WAS001674 4/20/2010