Wasatch Funds said it is launching the Wasatch Micro Cap Value Fund in late July. Initially, Wasatch plans to close the Micro Cap Value Fund to new investors at approximately $20 million in assets. The minimum initial investment in the Fund is $5,000 with a maximum contribution of $500,000.
The Fund will be co-managed by Wasatch veteran and Micro Cap Fund Manager Robert Gardiner along with Brian Bythrow and John Malooly.
According to Gardiner, the Micro Cap Value Fund came about as the natural result of Wasatch's investment process. Wasatch's in-house analysts often run across companies that do not meet the Micro Cap Fund's growth parameters. While not appropriate for the Micro Cap Fund, some of these companies have positive characteristics that Wasatch's analysts believe give them the potential to be outstanding long-term investments. "The new Micro Cap Value Fund provides a way to take advantage of these opportunities. In addition, it offers shareholders the potential benefits of an asset class not covered by any other Wasatch Fund," Gardiner said.