WASATCH FUNDS - Curian Clearing

WASATCH FRONTIER EMERGING SMALL COUNTRIES FUND (WAFMX) — Portfolio Summary
MARCH 31, 2015 (UNAUDITED)
AVERAGE ANNUAL TOTAL RETURNS
SINCE INCEPTION
SIX MONTHS* 1YEAR 5YEARS 1/31/12
Frontier Emerging Small Countries -9.04% -4.74% N/A 14.01%
MSCI Frontier Emerging Markets Index -12.58% -2.50% N/A 7.54%
MSCI Frontier Markets Index -15.18% -3.62% N/A 11.63%
Data shows past performance, which is not indicative of future performance. Current performance may be lower
or higher than the performance quoted. To obtain the most recent month-end performance data available, please
visit www.WasatchFunds.com. 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.
As of the January 31, 2015 prospectus, the Total Annual Fund Operating Expenses for the Wasatch Frontier
Emerging Small Countries Fund are 2.24%. The expense ratio shown elsewhere in this report may be
different. See the prospectus for additional information regarding Fund expenses.
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, including sales charges, or the taxes you would pay on fund
distributions or the redemption of fund shares. Fees and taxes, if reflected, would reduce the performance quoted.
Wasatch does not charge any sales fees. For more complete information including charges, risks and expenses,
read the prospectus carefully.
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. Investing in foreign securities, especially in frontier and emerging
markets, entails special risks, such as currency fluctuations and political uncertainties, which are described
in more detail in the prospectus.
*Not annualized.
% of Net
Company
Assets
East African Breweries Ltd. (Kenya) 3.2%
Commercial International Bank S.A.E. (Egypt) 3.2%
GrameenPhone Ltd. (Bangladesh) 2.9%
Safaricom Ltd. (Kenya) 2.9%
Universal Robina Corp. (Philippines) 2.5%
TOP 10 EQUITY HOLDINGS**
% of Net
Company
Assets
Kuwait Foods Americana (Kuwait) 2.5%
Square Pharmaceuticals Ltd. (Bangladesh) 2.4%
Nestlé Nigeria plc (Nigeria) 2.4%
Vietnam Dairy Products JSC (Vietnam) 2.4%
Nigerian Breweries plc (Nigeria) 2.2%
**As of March 31, 2015, there were 142 holdings in the Fund. Foreign currency contracts, written options and
repurchase agreements, if any, are not included in the number of holdings. Portfolio holdings are subject to
change at any time. References to specific securities should not be construed as recommendations by the Funds
or their Advisor. Current and future holdings are subject to risk.
SECTOR BREAKDOWN † 46.7%
Consumer Staples
Financials
Telecommunication Services
Materials
Health Care
Consumer Discretionary
Industrials
15.1%
9.2%
8.7%
7.3%
4.2%
3.7%
Cash & Cash Equivalents †† 2.6%
Energy
1.8%
Information Technology
† Excludes securities sold short and options
written, if any.
†† Also includes Other Assets & Liabilities.
0.7%
$17,500
$15,000
$12,500
GROWTH OF A HYPOTHETICAL $10,000 INVESTMENT
Wasatch Frontier Emerging Small Countries Fund
MSCI Frontier Emerging Markets Index
MSCI Frontier Markets Index
$15,144
$14,165
$12,588
$10,000
$7,500
1/31/12 ‡ 3/31/12 9/30/12 3/31/13 9/30/13 3/31/14 9/30/14 3/31/15
Six Month Periods
Past performance does not predict future performance. The graph above does not reflect the deduction of fees, sales charges, or taxes that you would payon
fund distributions or the redemption of fund shares. Wasatch does not charge any sales fees. ‡ Inception: January 31, 2012. The MSCI Frontier Emerging
Markets and MSCI Frontier Markets indices are free float-adjusted market capitalization indices designed to measure the equity market performance of the
global frontier and emerging markets. You cannot invest directly in these or any indices.
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