Ken Korngiebel, CFA, serves as Lead Portfolio Manager since July 1, 2017, bringing over 20 years of investment experience to the Wasatch Micro Cap Fund. Natalie Pesqué, CFA, joined as associate manager in January 2022, supporting the fund's research-driven investment approach. Thomas Bradley rounds out the management team, contributing to the fund's bottom-up fundamental analysis process. The team operates within Wasatch Global Investors, a 100% employee-owned investment management firm headquartered in Salt Lake City, Utah, that manages $27.9 billion in total assets. The management team emphasizes extensive experience in the micro-cap universe as critical to their search for future market leaders, focusing on high-quality growth companies with excellent management teams. Recent corporate developments include portfolio manager promotions and the expansion of employee ownership to more than 80% of the firm.

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The Wasatch Micro Cap Fund seeks long-term growth of capital by investing primarily in companies with market capitalizations under $2 billion at the time of purchase. The fund employs a bottom-up, fundamental investment approach blending high growth companies (those with at least 20% annual earnings growth) and core growth stocks. The fund invests at least 80% of its net assets in micro-capitalization companies, defined as firms with market caps below $1.5 billion or the largest company in the Russell Microcap® Index, with up to 30% in foreign equities. The fund typically maintains 50-80 positions with high active share of 94%, demonstrating substantial portfolio differentiation from the benchmark. Portfolio managers emphasize that the micro-cap universe is big, diverse and less efficient, creating opportunities for stock picking based on extensive experience in identifying future market leaders.

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