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Grandeur Peak International Stalwarts Fund to close to new investors via financial intermediaries

edited May 2020 in Fund Discussions
https://www.sec.gov/Archives/edgar/data/915802/000139834420011509/fp0054235_497.htm

497 1 fp0054235_497.htm

FINANCIAL INVESTORS TRUST

SUPPLEMENT DATED MAY 27, 2020 TO THE SUMMARY PROSPECTUS AND PROSPECTUS FOR THE GRANDEUR PEAK INTERNATIONAL STALWARTS FUND (THE “FUND”) DATED AUGUST 31, 2019

Effective as of the close of business on June 10, 2020, the Fund will close to new investors, except as described below. This change will affect new investors seeking to purchase shares of the Fund through third party intermediaries subject to certain exceptions for financial advisors with an established position in the Fund and participants in certain qualified retirement plans with an existing position in the Fund. The Fund remains open to purchases from existing shareholders, and to new shareholders who purchase directly from Grandeur Peak Funds.

The Fund retains the right to make exceptions to any action taken to close the Fund or limit inflows into the Fund.


INVESTORS SHOULD RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE



******* From GP website: International Stalwarts has Total Net Assets as of 5/26/2020:$1 Billion

Comments

  • Just received an email about the fund closing:

    May 27, 2020

    Dear Fellow Investors,

    We are announcing today that the Grandeur Peak International Stalwarts Fund (GISYX/GISOX) will close to new investors through intermediary platforms after June 10, 2020. The Fund will remain open to existing investors. Retirement plans and financial advisors with existing clients in the Fund will still be able to invest in the Fund for existing as well as new clients as long as their clearing platform will allow this exception. The Fund will remain open to new investors who purchase directly from Grandeur Peak Funds.

    The International Stalwarts Fund recently reached $1 billion under management, and the investment strategy in total is now roughly $2 billion. As you know, we carefully review capacity at the firm level and strategy level. We are committed to keeping all of our investment strategies small enough to be able to fully pursue their investment strategies without being encumbered by either their individual asset base or the firms’ collective asset base. Achieving performance for our clients will always be our paramount objective.

    The International and Global Stalwarts Funds will reach their five-year anniversary this September. When we launched the Stalwarts Funds, we talked about capacity across the Stalwarts line being in the $5-7 billion range given the Stalwarts’ focus on more liquid SMid-cap (Small- and Mid-cap) companies. We also hoped that the Stalwarts Funds would therefore be able to stay open to clients longer than many of our small/micro-cap funds. We are moving the International Stalwarts strategy to soft closed to protect existing investors’ continued access to the Fund.

    We have been very encouraged by the performance of the Stalwarts Funds and the value they have added to our collaborative research process over the last 4½ years (click here for Fund performance). We are excited to have recently added the US Stalwarts Fund to the Stalwarts line. The Global Stalwarts and US Stalwarts funds both remain open to new and existing shareholders. Part of the decision to close the International Stalwarts Fund is to preserve space for future assets in the Global Stalwarts strategy. Managing “sister” funds like the three Stalwarts Funds allows us to provide investment opportunities to a diverse breadth of investors.

    Thank you for your continued interest and trust. If you have any questions, don’t hesitate to reach out to me or a member of our Client Relations Team.



  • This fund has been more stalwart for me than FMIJX. I am particularly happy about the expense ratio given their assets under management, and the ER of some of their other funds.

    I am always on the lookout for funds that pay attention to balance sheets. So I will keep an eye on their brand-new US Stalwarts fund.
  • I am curious as to why they have not started a domestic based micro cap mutual fund.
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