Short Press Release from Wasatch
Wasatch International Opportunities Fund to Close to New Investors on September 29, 2016
(September 08, 2016)
Salt Lake City, Utah, September 8, 2016—Effective at the end of market trading (4:00 p.m. EST) on September 29, 2016, the Wasatch International Opportunities Fund (WAIOX/WIIOX) will be closed to new purchases, except purchases by new shareholders purchasing directly from Wasatch Funds, existing shareholders, and current and future clients purchasing through financial advisors and retirement plans with an established position in the Fund.
“Wasatch takes fund capacity seriously and, given the international micro-cap focus of the International Opportunities Fund, we believe that this step will protect the integrity of our investment process,” said Gene Podsiadlo, Director of Mutual Funds.
Contact Information:
Jody Lowe: 414.322.9311 / [email protected]
Steve Rung: 801.415.5523 / [email protected]
https://secure.wasatchfunds.com/News/Article.aspx?a=WAIOX Close 2016
Total Assets:
(All Classes) $654.0 (million) as of 09/08/16
https://secure.wasatchfunds.com/Our-Funds/Overview.aspx?fund=WAIOX

https://www.sec.gov/Archives/edgar/data/806633/000119312516704743/d254531d497.htm
497 1 d254531d497.htm WASATCH FUNDS TRUST
WASATCH FUNDS TRUST
Supplement dated September 8, 2016 to the
Prospectus dated January 31, 2016 and
Statement of Additional Information dated January 31, 2016, as amended and restated on July 8, 2016
Investor Class
Wasatch Core Growth Fund® - Investor Class (WGROX)
Wasatch Emerging India Fund® - Investor Class (WAINX)
Wasatch Emerging Markets Select Fund® - Investor Class (WAESX)
Wasatch Emerging Markets Small Cap Fund® - Investor Class (WAEMX)
Wasatch Frontier Emerging Small Countries Fund® - Investor Class (WAFMX)
Wasatch Global Opportunities Fund® - Investor Class (WAGOX)
Wasatch International Growth Fund® - Investor Class (WAIGX)
Wasatch International Opportunities Fund® - Investor Class (WAIOX)
Wasatch Large Cap Value Fund® - Investor Class (FMIEX)
Wasatch Long/Short Fund® - Investor Class (FMLSX)
Wasatch Micro Cap Fund® - Investor Class (WMICX)
Wasatch Micro Cap Value Fund® - Investor Class (WAMVX)
Wasatch Small Cap Growth Fund® - Investor Class (WAAEX)
Wasatch Small Cap Value Fund® - Investor Class (WMCVX)
Wasatch Strategic Income Fund® - Investor Class (WASIX)
Wasatch Ultra Growth Fund® - Investor Class (WAMCX)
Wasatch World Innovators Fund® - Investor Class (WAGTX)
Wasatch–1st Source Income Fund® - Investor Class (FMEQX)
Wasatch-Hoisington U.S. Treasury Fund® - Investor Class (WHOSX)
This Supplement updates certain information contained in the Wasatch Funds Prospectus dated January 31, 2016 and Statement of Additional Information dated January 31, 2016, as amended and restated on July 8, 2016 for Investor Class shares. You should retain this Supplement, the Prospectus and Statement of Additional Information for future reference. Additional copies of the Prospectus and Statement of Additional Information may be obtained free of charge by visiting our web site at www.WasatchFunds.com or calling us at 800.551.1700.
Effective at the close of market on September 29, 2016, the Wasatch International Opportunities Fund (WAIOX) will be closed to new purchases, except purchases by new shareholders purchasing directly from Wasatch Funds, existing shareholders, and current and future clients purchasing through financial advisors and retirement plans with an established position in the Fund.
As described in more detail in the Statement of Additional Information, the Advisor retains the right to make exceptions to any action taken to close a Fund or limit inflows into a Fund.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
_________________________________________________________________________________________________________________________
WASATCH FUNDS TRUST
Supplement dated September 8, 2016 to the
Prospectus dated January 31, 2016 and
Statement of Additional Information dated January 31, 2016, as amended and restated on July 8, 2016
Institutional Class
Wasatch Core Growth Fund® - Institutional Class (WIGRX)
Wasatch Emerging India Fund ® - Institutional Class (WIINX)
Wasatch Emerging Markets Select Fund® - Institutional Class (WIESX)
Wasatch Emerging Markets Small Cap Fund® - Institutional Class (WIEMX)
Wasatch Frontier Emerging Small Countries Fund® - Institutional Class (WIFMX)
Wasatch Global Opportunities Fund® - Institutional Class (WIGOX)
Wasatch International Growth Fund® - Institutional Class (WIIGX)
Wasatch International Opportunities Fund® - Institutional Class (WIIOX)
Wasatch Large Cap Value Fund® - Institutional Class (WILCX)
Wasatch Long/Short Fund® - Institutional Class (WILSX)
Wasatch Small Cap Growth Fund® - Institutional Class (WIAEX)
Wasatch Small Cap Value Fund® - Institutional Class (WICVX)
Wasatch World Innovators Fund® - Institutional Class (WIGTX)
This Supplement updates certain information contained in the Wasatch Funds Prospectus dated January 31, 2016 and Statement of Additional Information dated January 31, 2016, as amended and restated on July 8, 2016 for Institutional Class shares. You should retain this Supplement, the Prospectus and Statement of Additional Information for future reference. Additional copies of the Prospectus and Statement of Additional Information may be obtained free of charge by visiting our web site at www.WasatchFunds.com or calling us at 800.551.1700.
Effective at the close of market on September 29, 2016, the Wasatch International Opportunities Fund (WIIOX) will be closed to new purchases, except purchases by new shareholders purchasing directly from Wasatch Funds, existing shareholders, and current and future clients purchasing through financial advisors and retirement plans with an established position in the Fund.
As described in more detail in the Statement of Additional Information, the Advisor retains the right to make exceptions to any action taken to close a Fund or limit inflows into a Fund.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

FYI: A survey finds that the youngest—and biggest—generation of investors is the most enamored of exchange-traded funds.
Regards,
Ted
http://www.wsj.com/articles/millennials-show-more-love-for-etfs-and-vice-versa-than-their-parents-do-1473127503

Please join us for a live webcast titled "Turning Points" hosted by:
Jeffrey Gundlach
Mr. Gundlach will be discussing the economy, the markets and his outlook for what he believes may be the best investment strategies and sector allocations for the DoubleLine Total Return Bond Fund (DBLTX/DLTNX).
Jeffrey Gundlach Total Return Webcast
Scheduled for: Thu, Sep 8, 2016 1:15 PM PDT 4:15 PM EDT 3:15 PM CDT
https://event.webcasts.com/starthere.jsp?ei=1085768
@hank said
Glad I didn't follow my own advice, as I'm sitting on a double-digit return year to date. Cash wouldn't have done it. Still…
The "lower for longer" narrative is coming back into favor after the ISM services index unexpectedly tumbled to a five-year low in August. We can add that disappointment to last week's move into contraction zone for ISM manufacturing, as well as Friday's nonfarm payrolls miss.
http://seekingalpha.com/news/3207108-string-sluggish-data-boosts-gold
T.I.N.A
When weighing whether to stay in the market after the long run-up in stocks or bail for an alternative investment, people are following Tina's lead at the dance.
In investing shorthand, Tina stands for "there is no alternative."
Are you dancing in the market with Tina?
By Stephen Pounds · Bankrate.com
Read more: http://www.bankrate.com/financing/investing/are-you-dancing-in-the-market-with-tina/#ixzz4Jc9LziJ0
Follow us: @Bankrate on Twitter | Bankrate on Facebook

And Goldilocks continues to dream sweetly !
DEFINITION of 'Goldilocks Economy'
An economy that is not so hot that it causes inflation, and not so cold that it causes a recession. There are no exact markers of a Goldilocks economy, but it is characterized by a low unemployment rate, increasing asset prices (stocks, real estate, etc.), low interest rates, brisk but steady GDP growth and low inflation.
http://www.investopedia.com/terms/g/goldilockseconomy.asp

GLOBAL MARKETS-Stocks edge up, yields dip on muted Fed hike expectations
By Chuck Mikolajczak Reuters September 7, 2016
NEW YORK, Sept 7 (Reuters) - A gauge of global equity markets reached its highest level in over a year on Wednesday and U.S. Treasury yields declined for a second straight session as expectations for a interest rate hike by the Federal Reserve remained muted.The probability for a September rate hike inched up to 18 percent after the comments, from 15 percent in the prior session, according to CME's FedWatch tool, while expectations for a December increase nudged back above 50 percent.
http://finance.yahoo.com/news/global-markets-stocks-edge-yields-203007331.html
@hank said Just read the Stephanie Pompoy
Is she a perpetual bear or what? The sky is falling.
What if Ms Yellen does raise rates @ Sept meeting ?

Over the 3 years through Jul 2016, JNVSX could have been substituted by a fixed portfolio of ETFs (~22% FXR, 19% TDIV, 17% SPHQ, 11% XRT, 9% IHF, 8% VIG, and a couple of smaller positions) that had a ~4.4% higher cumulative return at a comparable volatility. See goo.gl/2Z3V5Q

Another way to substitute DFSVX, published a year earlier than this article -- see goo.gl/7RzdsC
For the 5 years through Aug 2016, DFSVX could also have been substituted by a fixed portfolio of ETFs (~41% IWN, 14% RZV, 10% PSCT, 9% XRT, 8% PRN, 8% KBE, 6% PXI, and a couple smaller positions) with a similar cumulative return and lower standard deviation.

Since Aug 2015, FISMX could have been substituted by a fixed portfolio of ETFs (~20% DFE, 19% SCHC, 17% PGF, 10% WPS, 6% FM, 6% DFJ, 5% BRF, and several smaller positions) that had a ~1% higher cumulative return at a comparable volatility. See goo.gl/2Z3V5Q

@MFO Members: INDEX Fund Fact Sheet:
Regards,
Ted
http://index.world/wp-content/uploads/2015/04/Index-Funds-SP500-Equal-Weight-No-Load-Fact-Sheet-063016.pdf
M* Snapshot INDEX:
http://www.morningstar.com/funds/xnas/index/quote.html

after about 5 secs i just get an ad

This month's commentary identifies INDEX as the entry into S&P 500 Equal Weight mutual fund. I have been interested in this area for some time but looking for an option less expensive than the INVESCO mutual fund or Guggenheim EFT. INDEX OER is .30 which is less than its competitors, however, it charges a $25.00 annual maintenance fee for small accounts (defined as less than $25,000) and the board of director (trustees) have zero dollars invested in the fund. INDEX website shows approx. $3 [million] total assets [Morningstar reports $4 million in the fund, David.]; the founder of the fund has 10k-50k invested. Just sharing information.

So far, the European CAPE ETF has done quite well:
Shiller on his CAPE ETF
UK Morningstar Performance
Kevin

I like the idea, but I can't see buying it just because DSENX is doing so well. I put a good portion of my self managed portfolio into DSENX (15%) after reading about the funds objectives and style, but not sure I need a European fund. I tend to think collecting funds for the sake of adding a new fund to "the team", especially sector funds, is detrimental to a portfolio's return.

"Your desire to learn more on what quickly becomes a complex mathematically dominated topic is highly commendable and deserves respect." That's what all my teachers used to say (or something like that :))
Great discussion. I guess what investors really need to look at is the real return on different competing types of investments over long periods. How have various assets, including equities, fared compared to the cost of living over time? (Of course, cost of living itself is subject to different methods of quantification.)
Example: A nominal 5% annual return over the past decade probably would have kept most of us ahead or about even with COL. But in the 70s, a 5% annual return would have resulted in rapidly deteriorating living standards for most.
Still, the task would seem daunting, since different assets are likely to perform very differently over extended periods of time and in different environments. Example: Return on treasury bonds over the past decade (and probably longer) would have likely kept most ahead of COL. But in the 70s the reverse would have been true.
2-cents worth

Hi Again Davidrmoran,
I hate hitting on a small point, but I post now with a minor complaint. You do DARPA an injustice by not using Caps uniformly.
DARPA is the Defense Advanced Research Project Agency. It was formed in 1958 in response to an emerging Soviet space threat. It's superior performance record is unmatched by any other government institution or by industry from which it draws members to establish teams with limited assignments. This agency developed the Internet.
Good for them and great for us. They deserve a proper recognition and acknowledgement for their long and successful service record. Three cheers for DARPA.
Best Wishes.

In the broad picture, I agree with the expectation that both stock and bond returns will be lower going forward. But not as explained. Stocks may violate mean reversion (i.e. overshoot the mean on the low side, rather than simply dropping closer to the mean). Parallel increases in prices and rates would keep bond real returns closer to zero.

I agree with this. The reversion to the mean is better applied to probabilities (e.g. coin toss, roulette ) and requires large numbers. None of those things apply with the stock market.
We've had lower than normal GDP growth recently and that will likely continue as was discussed in the thread on productivity recently.

Hi Bob, thanks for the comments. I completely agree with you that after several fat cows one should expect several lean ones. But mean regression is something entirely different.
What you (and I, and most everyone else) are assuming is that there's some relationship between past and future (lean follows fat). Mean regression assumes the complete opposite - that each year is completely independent and random.
Now you don't believe that next year is disconnected from this year or the past few. Neither do I. So mean regression is not applicable. Even if it were, it never predicts bad years, just that if this year was good, next year will, more likely than not, be less good.
With respect to bonds ... If one buys a bond now, even a premium bond, whether the real rate of return turns out to be positive or not depends on rate of inflation until maturity. It doesn't matter whether nominal rates go up 1% next year, that's not going to affect the coupons, the return of principal, or the real return. (Except arguably by inference that inflation may rise in tandem with the rise in nominal rates - see Fisher hypothesis.)
Inflation is still hovering below 1%. (0.8% Y/Y as of July - see graph here). Target rate is 2%. If we approach that without overshooting (admittedly a significant assumption), then 10 year bonds, yielding 1.60% nominal as of 9/2/16 should generate a small but positive real return. It doesn't matter what happens to market rates; what matters once the investment is made is the rate of inflation.
Still, there's a difference between this barely positive real return and the historical real return of 1.6%. So I agree that one needs to plan for lower returns than the historical average for both bonds and stocks. Though it remains important to be clear on the reasons for that qualitative projection, in order to make good quantitative guesses.
I think your 4-5% (nominal) is a good, conservative figure for planning purposes. IMHO that puts real return somewhere around 2%.

Hi, msf. Given the fact that we have had out-sized returns for the S&P 500 the last 5 years (average of about 15.5%), with some sectors much, much higher, it is natural to expect that we could well have some lean years if longer-term average numbers are to be trusted. The 10-year S&P 500 average return is only 7.4%, a long way from the outrageously long historical number, which some retirement web sites still allow using. So if we are to have future average returns of around 7%, there will need to be some very poor years to bring the market average down to that level. Or we could have one or two awful years. Perhaps the need to keep words to a minimum meant a deeper or clearer explanation was left out. I hope this clears the water.
As for bond yields, I think the fact that we are in totally uncharted waters with interest rates might result in strongly negative returns for bonds. I am not aware that so many countries have ever suckered poor souls to buy bonds with negative yields. And while U.S. yields are higher than 0%, many bond prices are so high as to suggest owners could have negative returns if rates move up by just 1%.
I am not suggesting returns for stocks or bonds is about to be hideous, but I do believe that using an assumed average return of more than 4-5% for retirement projections is unwise.

Presuming that you have to use Fido funds, why not FISMX? 5* at M*. It's separated a bit from its index on M*, and the manager has been there 2 yr during part of the overperformance. I'm trapped in Fido for my 403B , so I don't ignore their 5* funds. Over years, small cap usually outperforms, and I'm assuming you want international exposure.