World Innovators Fund
Style: Foreign Small/Mid-Cap Growth Equities
Objective: Long term growth of capital
Inception: 12/19/2000
Total Net Assets: $48,495,501 as of 9/30/2024
Strategy
The Fund invests in innovative small-mid cap growth companies that take market share through the economic cycle thanks to what we believe to be superior products and services.
Highlights
At least 80% of investments in undiscovered growth companies from outside the US.
Long term market share gain: sales growth consistently above 10% and faster growth than competitors.
Premium products: gross profit margins above 50% signals customers willing to pay a premium.
Scalable business model: profit margins and returns on capital improve as revenues grow.
Safe balance sheet: low debt levels or net cash balance sheets.
Fund Managers
Spencer was a Portfolio Manager at Grandeur Peak Funds. He managed The Grandeur Peak Emerging Markets Opportunities Fund (GPEIX) and co-managed The Grandeur Peak International Opportunities (GPIOX) and The Grandeur Peak Global Reach (GPROX) funds. Before Grandeur, Spencer worked at Sidoti & Company and Wasatch Advisors.
Spencer Stewart
Andrey joined Seven Canyons in February 2020 as a portfolio manager for WASIX, WAGTX, and AEC. Before Seven Canyons, Andrey was Portfolio Manager and Senior Analyst at Wasatch Advisors. At Wasatch Advisors, he co-managed the Wasatch Emerging Markets Small Cap fund. Andrey is also a CFA charter holder and has worked as a CPA for Deloitte audit practice. He has an MBA and a Masters of Accounting from University of Wisconsin – Madison.
Andrey Kutuzov
Annualized Returns
Performance
| As of 11/30/2024 | 1 Month | 3 Month | YTD | 1 Year | 3 Year Ann. | 5 Year Ann. | 10 Year Ann. |
|---|---|---|---|---|---|---|---|
| WAGTX (Investor Share Class) | 3.41% | 0.79% | 5.68% | 12.23% | -10.87% | 1.14% | 4.75% |
| WIGTX (Institutional Share Class) | 3.46% | 0.91% | 5.83% | 12.38% | -10.72% | 1.33% | 4.95% | MSCI ACWI IMI ex. USA Small Cap Index | -0.44% | -2.81% | 5.61% | 12.31% | 0.62% | 5.76% | 5.76% |
| As of 9/30/2024 | 1 Month | 3 Month | YTD | 1 Year | 3 Year Ann. | 5 Year Ann. | 10 Year Ann. |
|---|---|---|---|---|---|---|---|
| WAGTX (Investor Share Class) | 2.46% | 7.91% | 7.42% | 18.86% | -13.02% | 2.80% | 5.04% |
| WIGTX (Institutional Share Class) | 2.46% | 7.93% | 7.45% | 18.95% | -12.89% | 2.97% | 5.23% | MSCI ACWI IMI ex. USA Small Cap Index | 3.01% | 8.90% | 11.93% | 23.25% | 1.39% | 8.21% | 6.08% |
Performance under one year is annualized. Values are net of fees. Data shows past performance. Past performance is not indicative of future performance and current performance may be lower or higher than the data quoted. For the most recent month-end performance data, visit www.sevencanyonsadvisors.com. Investment returns and principal value will fluctuate and shares, when redeemed, may be worth more or less than their original cost. The Advisor may absorb certain Fund expenses, leading to higher total shareholder returns.
Total expense ratio for WAGTX: gross 1.85%; net* 1.70%
Total expense ratio for WIGTX: gross 1.80%; net* 1.60%
*Seven Canyons Advisors, LLC, the Fund’s investment adviser (the “Adviser”), has contractually agreed to limit the amount of the Fund’s total annual fund operating expenses through at least January 31, 2025.
WAGTX
CUSIP: 02110A 571
Minimum Investment: $2,000
WIGTX
CUSIP: 02110A 563
Minimum Investment: $100,000
Top 10 Holdings
| As of 9/30/2024 | % Portfolio Weight | JDC Group AG | 7.57% |
|---|---|
| flatexDEGIRO AG | 6.32% | Blackline Safety | 4.57% | Kitwave Group PLC | 4.38% | Elixirr International PLC | 3.75% | Catapult Group International, Ltd | 3.44% | SmartCraft ASA | 3.17% | Midi Utama Indonesia Tbk PT | 2.52% | M&A Research Institute Holdings, Inc. | 2.36% | Freee KK | 2.29% |