Wasatch Advisors, the Salt Lake City-based investment firm and manager of the Wasatch family of mutual funds, has launched the Wasatch Emerging Markets Select Fund.
The new no-load mutual fund will be investing in a select portfolio of 30 to 50 geographically diversified, emerging-market companies of all sizes.
It will be managed by Ajay Krishnan and Roger Edgley, who is the director of international research at Wasatch Advisors. Krishnan and Edgley also co-manage the Wasatch Emerging India Fund and the Wasatch Global Opportunities Fund, along with JB Taylor.
Edgley said the new fund reflects the firm’s belief in the potential growth opportunities for fundamental investors in emerging markets. “In a category dominated by index funds and exchange-traded funds, we believe there is demand for actively managed funds looking for ideas beyond the benchmarks. A concentrated approach allows us to focus on our top picks in one portfolio.”
Krishnan added the fund will be seeking to invest in countries with attractively valued stock markets and growing consumer economies driven by domestic demand and an expanding middle class. He noted that unlike many emerging-markets funds, the new fund will not be as heavily weighted in countries such as China, South Korea and Taiwan.
Instead, it will try to uncover attractively priced companies whose fortunes are based on local economies rather than on exports to foreign countries.
The Wasatch Emerging Markets Select Fund will be listed under the symbol WAESX.