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GPGOX and GPIOX to "soft close" May 1st

edited April 2013 in Fund Discussions
From Grandeur Peak:
"Today we are announcing the soft close of the Grandeur Peak Global Opportunities Fund and the Grandeur Peak International Opportunities Fund effective May 1, 2013. Frankly this has come more quickly than we had originally expected. We are grateful for your interest in our firm and the trust you have placed in us."
http://www.grandeurpeakglobal.com/documents/pdfs/grandeurpeakglobalfunds-pr-20130408-2.pdf

Comments

  • Pretty much they are closing around the levels they said they would.
  • The question for me at least is with limited cash available should I buy in the minimum? I was planning on buying the new Artisan Global Small Cap fund(ARTWX), but not both.

    Art
  • Reply to @Art: Tough call: only two years of performance for one versus very little known for sure about the other. My only hesitation in recommending GPGOX is the ER, but I don't think Artisan is a bastion of low costs either. Artisan minimums ($1k) are lower than Grandeur Peak ($2k), but both are pretty accessible. My hunch is GPGOX will be closed for a while... but they clearly have more funds planned.
  • Reply to @joe74: While GPGOX and GPIOX are young, managers have also track record at similar former funds at Wasatch. WAGOX and WAIOX. The fund tickers are even similar..
  • edited April 2013
    Reply to @Investor: I bought GPGOX a little over a year ago, largely based on their track record at Wasatch - but you can basically make the same argument for Artisan. I like Grandeur Peak so far, and ARTWX is still a big question mark, but I still feel hard pressed to prove someone should pick GPGOX rather than wait for ARTWX.
  • edited April 2013
    Grandeur Peak funds can be started for as little as $1K plus $50 per month, quarter, or annually. Similarily, provided you are already an Artisan fund shareholder, you can open an account for as little as $50 per month. Sure, I would like to have $2K for each Grandeur Peak fund and $1K for ARTWX (if it were open), but I do not. So I take advantage of the systematic investment plan when I can.

    The issue here is is that ARTWX will probably not open until at least June as per the Artisan CSR; both Grandeur Peak funds will close in less than a month.
  • edited April 2013
    Link to SEC filing:

    http://www.sec.gov/Archives/edgar/data/915802/000091580213000011/gp4970408.htm

    FINANCIAL INVESTORS TRUST


    Grandeur Peak Global Opportunities Fund

    Grandeur Peak International Opportunities Fund (the “Funds”)

    SUPPLEMENT DATED APRIL 8, 2013 TO THE PROSPECTUS

    FOR THE INSTITUTIONAL CLASS SHARES OF THE FUNDS DATED AUGUST 31, 2012

    This Supplement updates certain information contained in the Prospectus for the Institutional Class Shares of the Funds dated August 31, 2012. You should retain this Supplement and the Prospectus for future reference. Additional copies of the Prospectus may be obtained free of charge by visiting our web site at www.grandeurpeakglobal.com or calling us at 1.855.377.PEAK (7325).

    Effective as of the close of business on May 1, 2013, the Funds will close to new investors, except as described below. This change will affect new investors seeking to purchase shares of a Fund either directly or through third party intermediaries. Existing shareholders of a Fund may continue to purchase additional shares of that Fund.

    A financial advisor whose clients have established accounts in a Fund as of May 1, 2013 may continue to open new accounts in that Fund for any of its existing or new clients.

    Existing or new participants in a qualified retirement plan, such as a 401(k) plan, profit sharing plan, 403(b) plan or 457 plan, which has an existing position in a Fund as of May 1, 2013, may continue to open new accounts in that Fund. In addition, if such qualified retirement plans have a related retirement plan formed in the future, this plan may also open new accounts in the Fund.

    As described in the Prospectus, the Funds’ investment adviser, Grandeur Peak Global Advisors, LLC, retains the right to make exceptions to any action taken to close a Fund or limit inflows into a Fund.


    INVESTORS SHOULD RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

    FINANCIAL INVESTORS TRUST


    Grandeur Peak Global Opportunities Fund

    Grandeur Peak International Opportunities Fund (the “Funds”)


    SUPPLEMENT DATED APRIL 8, 2013 TO THE PROSPECTUS

    FOR THE INVESTOR CLASS SHARES OF THE FUNDS DATED AUGUST 31, 2012

  • Any idea when are their new funds coming ?
  • Reply to @Art: I would vote for Grandeur Peak's offering over Artisan's based on the track record of Robert Gardiner and Blake Walker while they managed Wasatch Global Opportunities. Note that both funds are aggressive and they suffered over 50% loss in 2008 and 15% in 2011.
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