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Emerging market

Wasatch launches Emerging Markets Select Fund

Wasatch Advisors, the investment manager to the Wasatch Funds, has launched the Wasatch Emerging Markets Select Fund, a no-load mutual fund that invests in a select portfolio of 30 to 50 geographically diversified emerging-markets companies of all sizes.

The fund is managed by Ajay Krishnan. He is joined by veteran international manager Roger Edgley, 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).

Emerging Markets Select can invest in stocks of all sizes, but many of the companies are likely to be those that have “graduated” beyond the small-cap focus of some of Wasatch’s other emerging-markets portfolios.

“The Wasatch Emerging Markets Select Fund reflects our strong belief in the potential growth opportunities for fundamental investors in emerging markets,” says Edgley. “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.”

“We generally seek countries with attractively valued stock markets and growing consumer economies driven by domestic (home-country) demand and an expanding middle class,” adds Krishnan. “Unlike many emerging-markets funds, we aren’t as heavily weighted in countries such as China, Korea and Taiwan. Instead, we usually try to uncover attractively priced companies whose fortunes are based on local economies rather than on exports to foreign countries.”

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