Seven Canyons Advisors Completes the Conversion of Two Wasatch Funds
Sam and Josh Stewart will continue to manage the newly transferred funds as Seven Canyons Funds, maintaining the funds’ portfolio strategies.
SALT LAKE CITY, UT, September 10, 2018 — Seven Canyons Advisors, LLC announced the successful conversion of two mutual funds, the Wasatch World Innovators Fund (WAGTX; WIGTX) and the Wasatch Strategic Income Fund (WASIX), after shareholders of the two funds voted to name Seven Canyons as the Investment Advisor to the funds. The effective date of the funds’ reorganization and conversion is September 10, 2018.
Fund shareholders approved a plan to transfer two Wasatch funds managed by Sam and Josh Stewart into two new funds managed by Seven Canyons, maintaining the funds’ strategies.
The newly named funds, Seven Canyons World Innovators Fund and Seven Canyons Strategic Income Fund will continue to be led by their former Wasatch portfolio managers Sam Stewart and Josh Stewart, who have now joined Seven Canyons from Wasatch Advisors, Inc. The conversion of the funds did not result in a taxable transaction to shareholders and the funds will continue to maintain the same investment objectives, strategies and ticker symbols as the former Wasatch funds.
Spencer Stewart, Managing Partner and portfolio manager at Seven Canyons, said,
“We are grateful to our shareholders who supported the conversion of these two Wasatch Funds to Seven Canyons. Our goal will always be to seek outstanding investment performance for our funds and strategies, and I believe we have the right team to pursue that.”
Sam Stewart manages the Seven Canyons Strategic Income Fund. Josh Stewart is the lead portfolio manager of the Seven Canyons World Innovators Fund.
Seven Canyons Advisors is a registered investment advisor formed in 2017 by Spencer Stewart, a former portfolio manager at Grandeur Peak Funds and Wesley Golby, formerly a partner at S-Squared Technology, LLC and Fleckenstein Capital Management, Inc. Sam Stewart and Josh Stewart have joined as additional partners in the firm.
The four investment partners of Seven Canyons are accomplished and experienced managers, with global expertise and decades of portfolio management experience. Sam Stewart, Ph.D., CFA® founded Wasatch Advisors and its Wasatch Funds. During Sam Stewart’s 43-year tenure at Wasatch he helped build the company into an internationally known brand in global small-cap investing with assets of over $17 billion as of June 30, 2018.
About Seven Canyons Advisors
Seven Canyons Advisors, LLC, a 100% employee-owned investment advisor based in Salt Lake City and registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. Seven Canyons brings together a small group of highly experienced investment professionals, based on a firm belief that close collaboration within a small organization provides the optimal way to identify the best global investment opportunities and the nimbleness to take advantage of them. Learn more at www.sevencanyonsadvisors.com.
Seven Canyons Funds Shareholder Services Telephone: (833) 722-6966 (833-7CANYON)
Seven Canyons Advisors, LLC
79 S. Main Street, 4th Floor
Salt Lake City, UT 84111
Spencer Stewart, Seven Canyons Advisors – email@example.com (801) 349-2835
Eric Moessing, Seven Canyons Advisors – firstname.lastname@example.org (801) 349-2721
Jody Lowe, The Lowe Group – email@example.com – (414) 777-1880
Ben Bishop, The Lowe Group – firstname.lastname@example.org – (414) 777-1880
RISKS AND DISCLOSURES:
Past performance is not indicative of future results.
The Lipper Fund Awards program honors funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers. Lipper designates award-winning funds in most individual classifications for the three-, five- and 10-year periods ending November 30th of the prior year. Lipper Award designations are not intended to constitute investment advice or predict future results and Lipper does not guarantee the accuracy of this information. In addition to periods of positive returns, the Wasatch/Seven Canyons fund that received a Lipper Award has experienced some periods of negative returns during the award time frame. Past performance is not indicative of future results.