Grandeur Peak Global Reach (GPROX)
Grandeur Peak Global Reach (GPROX) gives investors an opportunity to access a new fund with an experienced, successful stock-picking team focused on global small-cap opportunities.
Robert Gardiner and Blake Walker started their own firm after successfully picking small-cap stocks for Wasatch. However, Grandeur has the tendency to close its funds fairly early on as assets build. The now-closed Granduer Peak Global Opportunities (GPGOX) is up a solid 33.9% YTD, ranking it in the top 6% of its Morningstar category.
But GPROX, which commenced operation in June, still is open for business, and it’s off to a fine start — the fund is up 5.7% during the past three months and 17% since inception, though it has just $56 million in assets. The plan is for this portfolio to eventually consist of 300 to 500 micro- and small-cap companies throughout the world.
Currently, 33% of the portfolio is invested in North America and 31% in Asia (ex-Japan). In terms of sector weighting, industrial names are 23% of the portfolio followed by 21% in the technology space. Recent top holdings include: Magellan Financial Group, Clinigen Group PLC, iMarketKorea, Hy-Lok and China Medical.
Expenses run an expensive 1.81%.
As of this writing, Bill Wysor was long FCPVX and GPGOX.