http://www.sec.gov/Archives/edgar/data/915802/000091580214000009/grandeurpeakgoandiohardclose.htmFINANCIAL INVESTORS TRUST
Grandeur Peak Global Opportunities Fund
Grandeur Peak International Opportunities Fund (the “Funds”)
SUPPLEMENT DATED FEBRUARY 19, 2014 TO THE PROSPECTUS
DATED AUGUST 31, 2013
This Supplement updates certain information contained in the Prospectus for the Funds dated August 31, 2013. 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 March 5, 2014, the Funds will close to all purchases, except as described below. Once the Funds are closed the Funds will no longer accept purchases from new or existing clients, unless the purchase is part of:
·a retirement plan/account which held the Fund prior to this closure;
·an automatic investment plan which was established in the Fund prior to this closure; or
·an automatic reinvestment of a distribution made by the Fund.
These exceptions will be implemented wherever possible, but they may not be possible on all intermediary platforms.
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.
Comments
http://www.grandeurpeakglobal.com/documents/pdfs/grandeurpeakglobalfunds-pr-20140219.pdf
Regards,
Ted
Hard To Be Closed: Have We Go Magic;
Does that mean individual plans like IRAs, or institutional accounts sold through 401(k)s and the like?
I've been an early investor in their funds and liking what I see so far.
Remember the other exception: funds set up with an automatic investing plan.
David
We will allow the exception to include IRA accounts, but that’s where it is going to depend on whether the intermediary platform can make such a specific exception.
Not a problem for me yet as I'm a GPROX shareholder in my Roth, but it probably will be. Push comes to shove I'll transfer shares and set up the AIP.
Since Global Reach is their flagship fund, I suspect it will remain open for a period of time gathering assets, while the remaining three funds will probably not be as large as Global Reach since they are subsets of other existing funds. While I have no information on what they will do, my guess would be the Global Microcap (subset of Global Reach fund) will be the next fund to be rolled out since Gardiner oversaw Wasatch's Global Opportunities Fund and still fresh in investors' minds with its overall performance under his reign and had some microcaps in its portfolio coupled with the performance of small caps right presently.
Not sure if Global Reach has gathered assets as quickly as Global Opportunities, International Opportunities and Emerging Market Opportunities Funds. Maybe it has to do with no announcement of closing it at some asset level?
The Grandeur Peaks Global Opportunities fund was of course one of their flagship funds at inception of their new fund firm and so that got bigger fanfare. It focused on global micro and smallcaps just like the Wasatch Global Opportunities fund they were once managing. Currently, Grandeur Peaks Global Opp fund is hitting smaller companies than the Wasatch Global Opp counterpart based on the weighted avg marketcap of companies invested in.
If you like either of those, and feel like one of the closed funds fits your port, GPROX probably fits as well.
GPEOX is probably a bit of a different beast. I'm personally happy to let GP make the allocation calls.
See this good presentation slide deck by Grandeur Peak on Global Smallcap Investing and an overview of how they invest.
http://soltisadvisors.com/wp-content/uploads/2013/10/Fiduciary-Training-Grandeur-Peak.pdf