As filed with the Securities and Exchange Commission on June 20, 2014
Securities Act Registration No. 33-10451
Investment Company Act Registration No. 811-4920
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | X |
Post-Effective Amendment No. 86 | X |
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | X |
Amendment No. 88 |
X |
(Check appropriate box or boxes)
WASATCH FUNDS TRUST
(Exact Name of Registrant as Specified in Charter)
505 Wakara Way, 3rd Floor
Salt Lake City, UT 84108
(Address of Principal Executive Offices)
Registrants Telephone Number, including Area Code: (801) 533-0777
(Name and Address of Agent for Service) | Copy to: | |
Samuel S. Stewart, Jr. Wasatch Advisors, Inc. 505 Wakara Way, 3rd Floor Salt Lake City, UT 84108 |
Eric F. Fess Chapman and Cutler LLP 111 West Monroe Street Chicago, IL 60603 |
Approximate Date of Proposed Public Offering: As soon as practicable following effectiveness.
It is proposed that this filing will become effective:
(X) | immediately upon filing pursuant to paragraph (b) |
( ) | on pursuant to paragraph (b) |
( ) | 60 days after filing pursuant to paragraph (a)(1) |
( ) | on pursuant to paragraph (a)(1) |
( ) | 75 days after filing pursuant to paragraph (a)(2) |
( ) | on pursuant to paragraph (a)(2) of Rule 485. |
If appropriate, check the following box:
( ) this Post-Effective Amendment designates a new effective date for a previously filed Post-Effective Amendment.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended and the Investment Company Act of 1940, as amended, the Registrant certifies that this Post-Effective Amendment No. 86 to the Registration Statement meets all the requirements for effectiveness pursuant to Rule 485(b) of the Securities Act of 1933, as amended, and the Registrant has duly caused this Post-Effective Amendment No. 86 under the Securities Act of 1933, as amended and Post-Effective Amendment No. 88 under the Investment Company Act of 1940, as amended to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Salt Lake City, and the State of Utah on the 20th day of June 2014.
WASATCH FUNDS TRUST
By | /s/ Samuel S. Stewart | |
Samuel S. Stewart, Jr., Ph.D., | ||
President |
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the date indicated.
Signature |
Title |
Date | ||
/s/ Samuel S. Stewart Samuel S. Stewart, Jr., Ph.D. |
President and Trustee (principal executive officer) | June 20, 2014 | ||
/s/ Cindy B. Firestone Cindy B. Firestone |
Treasurer (principal financial and accounting officer) |
June 20, 2014 | ||
James U. Jensen* James U. Jensen, Esquire |
Trustee | June 20, 2014 | ||
D. James Croft* D. James Croft |
Trustee | June 20, 2014 | ||
Miriam M. Allison* Miriam M. Allison |
Trustee | June 20, 2014 | ||
Heikki Rinne* Heikki Rinne |
Trustee | June 20, 2014 |
/s/ Russell L. Biles
Russell L. Biles
Attorney-in-Fact
June 20, 2014
*Signed pursuant to powers of attorney are incorporated herein by reference to Exhibit (q) in Post-Effective Amendment No. 50 to the Registrants Registration Statement on Form N-1A filed with the Commission on March 31, 2010 and a power of attorney incorporated herein by reference to Exhibit q-1 in Post-Effective Amendment No. 65 to the Registrants Registration Statement on Form N-1A filed with the Commission on October 2, 2012.
1
Exhibit Index
Exhibit No. | ||||
EX-101.INS | XBRL Instance Document | |||
EX-101.SCH | XBRL Taxonomy Extension Schema Document | |||
EX-101.CAL | XBRL Taxonomy Extension Calculation Linkbase | |||
EX-101.DEF | XBRL Taxonomy Extension Definition Linkbase | |||
EX-101.LAB | XBRL Taxonomy Extension Labels Linkbase | |||
EX-101.PRE | XBRL Taxonomy Extension Presentation Linkbase |
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Label | Element | Value |
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Risk/Return: | rr_RiskReturnAbstract | |
Registrant Name | dei_EntityRegistrantName | WASATCH FUNDS TRUST |
Prospectus Date | rr_ProspectusDate | Jun. 04, 2014 |
Document Creation Date | dei_DocumentCreationDate | Jun. 03, 2014 |
Wasatch World Innovators Fund | |||||||||||||||||||||||||||
WASATCH WORLD INNOVATORS FUND — Summary | |||||||||||||||||||||||||||
INVESTMENT OBJECTIVE | |||||||||||||||||||||||||||
The Fund’s investment objective is long-term growth of capital. | |||||||||||||||||||||||||||
FEES AND EXPENSES OF THE FUND | |||||||||||||||||||||||||||
The tables below describe the fees and expenses that you may pay if you buy, sell or hold Investor Class shares of the Fund. | |||||||||||||||||||||||||||
SHAREHOLDER FEES (fees paid directly from your investment) | |||||||||||||||||||||||||||
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ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment) | |||||||||||||||||||||||||||
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EXAMPLE | |||||||||||||||||||||||||||
This example is intended to help you compare the cost of investing in the Investor Class of the Fund with the cost of investing in other mutual funds. The example assumes that you invested $10,000 in the Investor Class of the Fund for the time periods indicated and then redeemed all of your shares at the end of those periods. The example also assumes that your investment had a 5% return each year and that the operating expenses (as a percentage of net assets) of the Fund’s Investor Class remained the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: | |||||||||||||||||||||||||||
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PORTFOLIO TURNOVER | |||||||||||||||||||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). Higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 84% of the average value of its portfolio. | |||||||||||||||||||||||||||
PRINCIPAL STRATEGIES | |||||||||||||||||||||||||||
The Fund invests primarily in domestic and foreign growth companies that we believe are innovators in their respective sectors or industries. Modern innovative companies have global business models that are less dependent upon their place of domicile, the location of their headquarters, or the exchange on which their stocks are listed. Under normal market conditions the Fund will typically be invested in at least three developed countries, including the U.S. The Fund may invest in securities issued by companies domiciled in emerging and frontier markets without limitation. Under normal market conditions, we expect a significant portion of the Fund’s assets will be invested in equity securities of companies that have significant non-U.S. economic risk exposure. Equity securities include common stock, preferred stock and securities convertible into common stock, warrants and rights, and other securities with equity characteristics (for example, participatory notes or derivatives linked to a basket of underlying equity securities, certain options on common stock, and exchange traded funds). We will consider a company to have significant non-U.S. economic risk exposure if, at the time of purchase, it has at least 50% of its assets outside the U.S., or if at least 50% of its revenues or profits are from goods produced or sold, investments made, or services performed outside the U.S. We will use a process of “bottom up” fundamental analysis to invest in companies of any size. However, because innovative companies are rapidly evolving, we expect to invest a significant portion of the Fund’s assets in early stage companies and small to mid-size companies with market capitalizations of less than U.S. $5 billion at the time of purchase. We have defined two broad categories that we believe are critical to identifying companies with outstanding investment potential. The first is companies that possess valuable intellectual property. The second is companies that are innovators in their respective sectors or industries. The Fund may invest a large percentage of its assets in a few sectors, including information technology, health care, consumer discretionary, consumer staples and financials. |
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PRINCIPAL RISKS | |||||||||||||||||||||||||||
All investments carry some degree of risk that will affect the value of the Fund, its investment performance and the price of its shares. As a result, you may lose money if you invest in the Fund. An investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The Fund is subject to the following principal investment risks: Stock Market Risk. The Fund’s investments may decline in value due to movements in the overall stock market. Stock Selection Risk. The Fund’s investments may decline in value even when the overall stock market is not in a general decline. Foreign Securities Risk. Foreign securities are generally more volatile and less liquid than U.S. securities. Further, foreign securities may be subject to additional risks not associated with investments in U.S. securities due to differences in the economic and political environment, the amount of available public information, the degree of market regulation, and financial reporting, accounting and auditing standards, and, in the case of foreign currency-denominated securities, fluctuations in currency exchange rates. Emerging Markets Risk. In addition to the risks of investing in foreign securities in general, the risks of investing in the securities of companies domiciled in emerging market countries include increased political or social instability, economies based on only a few industries, unstable currencies, runaway inflation, highly volatile securities markets, unpredictable shifts in policies relating to foreign investments, lack of protection for investors against parties that fail to complete transactions, and the potential for government seizure of assets or nationalization of companies. Small Company Stock Risk. Small cap stocks may be very sensitive to changing economic conditions and market downturns because the issuers often have narrow markets, fewer product lines, and limited managerial and financial resources, resulting in volatile stock prices and a limited ability to sell them at a desirable time or price. Technology and Science Stock Risk. Stocks of science and information technology companies may be volatile because issuers are sensitive to rapid obsolescence of existing technology, short product cycles, falling prices and profits, competition from new market entrants, and general economic conditions. Information technology stocks, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Science companies may be affected by the same risks as technology companies. Sector Weightings Risk. To the extent the Fund emphasizes, from time to time, investments in a particular sector, the Fund will be subject to a greater degree to the risks particular to that sector, including the sectors described below. Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect all the securities in a single sector. If the Fund invests in a few sectors, it may have increased exposure to the price movements of those sectors. Financials Sector Risk. Industries in the financial sector, such as banks, insurance companies, broker-dealers and real estate investment trusts, may be sensitive to changes in interest rates and general economic activity and are generally subject to extensive government regulation. Consumer Staples Sector Risk. The consumer staples sector may be affected by marketing campaigns, changes in consumer demands, government regulations and changes in commodity prices. Health Care Sector Risk. Health care companies are strongly affected by worldwide scientific or technological developments. Their products may rapidly become obsolete. Many health care companies are also subject to significant government regulation and may be affected by changes in government policies. Industrials Sector Risk. Industries in the industrials sector, such as companies engaged in the production, distribution or service of products or equipment for manufacturing, agriculture, forestry, mining and construction, can be significantly affected by general economic trends, including such factors as employment and economic growth, interest rate changes, changes in consumer spending, legislative and government regulation and spending, import controls, commodity prices, and worldwide competition. Consumer Discretionary Sector Risk. Industries in the consumer discretionary sector, such as consumer durables, hotels, restaurants, media, retailing and automobiles, may be significantly impacted by the performance of the overall economy, interest rates, competition, consumer confidence and spending, and changes in demographics and consumer tastes. Early Stage Companies Risk. Early stage companies may never obtain necessary financing, may rely on untested business plans, may not be successful in developing markets for their products or services, and may remain an insignificant part of their industry, and as such may never be profitable. Stocks of early stage companies may be illiquid, privately traded, and more volatile and speculative than the securities of larger companies. |
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HISTORICAL PERFORMANCE | |||||||||||||||||||||||||||
The following tables provide information on how the Investor Class of the Fund has performed over time. The past performance, before and after taxes, of the Fund’s Investor Class is not necessarily an indication of how these shares will perform in the future. The bar chart below is intended to provide you with an indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year, as represented by the Investor Class of the Fund. The table below is designed to help you evaluate your risk tolerance by showing the best and worst quarterly performance of the Fund’s Investor Class for the years shown in the bar chart. The average annual total return table below allows you to compare the Fund’s performance over the time periods indicated to that of a broad-based market index. Performance information is updated regularly and is available on the Fund’s website www.WasatchFunds.com. Effective April 1, 2011, the Wasatch World Innovators Fund changed its name from the Wasatch Global Science & Technology Fund and changed its principal strategies and primary comparison benchmark index. The bar chart, best and worst quarterly returns and average annual total return table include performance prior to these changes. | |||||||||||||||||||||||||||
WASATCH WORLD INNOVATORS FUND — INVESTOR CLASS Year by Year Total Returns |
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Year-to-date return as of March 31, 2014: 0.64% Best and Worst Quarterly Returns
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Average Annual Total Returns — (as of 12/31/13) | |||||||||||||||||||||||||||
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After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown. The after-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. |
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