WASATCH FUNDS - Curian Clearing

WASATCH MICRO CAP VALUE FUND (WAMVX) — Portfolio Summary
MARCH 31, 2015 (UNAUDITED)
AVERAGE ANNUAL TOTAL RETURNS
SIX MONTHS* 1YEAR 5YEARS 10 YEARS
Micro Cap Value 12.29% 4.34% 13.40% 10.64%
Russell Microcap ® Index 14.69% 3.79% 14.69% 7.11%
Russell 2000 ® Index 14.46% 8.21% 14.57% 8.82%
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 Micro
Cap Value Fund are 2.02%. The Net Expenses are 1.95%. The expense ratio shown elsewhere in this report
may be different. Net Expenses are based on Fund expenses, net of waivers and reimbursements. 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 micro cap funds will be more volatile and loss of principal could be greater than investing in
large cap or more diversified funds. Investments in value stocks can perform differently from the market as
a whole and from other types of stocks and can continue to be undervalued by the market for long periods
of time. Investing in foreign securities, especially in 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
Allegiant Travel Co. 1.7%
Lee’s Pharmaceutical Holdings Ltd. (China) 1.4%
Synergetics USA, Inc. 1.4%
LGI Homes, Inc. 1.4%
Gentherm, Inc. 1.4%
TOP 10 EQUITY HOLDINGS**
% of Net
Company
Assets
Perficient, Inc. 1.4%
Customers Bancorp, Inc. 1.3%
Saia, Inc. 1.3%
Atlas Financial Holdings, Inc. 1.3%
Nu Skin Enterprises, Inc., Class A 1.3%
**As of March 31, 2015, there were 106 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 † 23.7%
Health Care
Information Technology
Financials
Industrials
Consumer Discretionary
17.2%
16.6%
13.2%
12.2%
Cash & Cash Equivalents †† 7.0%
Consumer Staples
6.8%
Materials
Telecommunication Services
† Excludes securities sold short and options
written, if any.
†† Also includes Other Assets & Liabilities.
2.7%
0.6%
$30,000
$27,000
$24,000
$21,000
$18,000
$15,000
$12,000
$9,000
$6,000
GROWTH OF A HYPOTHETICAL $10,000 INVESTMENT
Wasatch Micro Cap Value Fund
Russell Microcap Index
Russell 2000 Index
$27,476
$23,280
$19,880
’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15
Years Ended March 31
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. The Russell Microcap Index is an unmanaged total return index
of the smallest 1,000 securities in the small-cap Russell 2000 Index along with the next smallest 1,000 companies, based on a ranking of all U.S. equities by
market capitalization. The official start date of the index was July 1, 2005. Data for the index prior to this date was from a paper portfolio. The Russell 2000
Index is an unmanaged total return index of the smallest 2,000 companies in the Russell 3000 Index, as ranked by total market capitalization. The Russell
2000 Index is widely regarded in the industry as accurately capturing the universe of small company stocks. You cannot invest directly in these or any indices.
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