Summary Prospectus —January 31, 2018 | Ticker: WHOSX |
Shareholder Fees (fees paid directly from your investment) | Investor
Class Shares |
Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price) | None |
Redemption Fee (as a % of amount redeemed on shares held 60 days or less) | 2.00% |
Exchange Fee | None |
Maximum Account Fee | None |
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | Investor
Class Shares |
Management Fee | 0.50% |
Distribution/Service (12b-1) Fee | None |
Other Expenses | 0.22% |
Total Annual Fund Operating Expenses1 | 0.72% |
1 | Wasatch Advisors, Inc. (Advisor), the Fund’s investment advisor, has contractually agreed to reimburse the Investor Class shares of the Fund for Total Annual Fund Operating Expenses in excess of 0.75% of average daily net assets until at least January 31, 2019 (excluding interest, dividend expense on short sales/interest expense, taxes, brokerage commissions, other investment related costs, acquired fund fees and expenses, and extraordinary expenses, such as litigation and other expenses not incurred in the ordinary course of business). The Board of Trustees is the only party that can terminate the contractual limitation prior to the contract’s expiration. The Advisor can rescind the contractual limitation on expenses at any time after its expiration date. |
1 Year | 3 Years | 5 Years | 10 Years | |
Wasatch-Hoisington U.S. Treasury Fund — Investor Class | $74 | $231 | $401 | $896 |
• | Typically invest at least 90% of the Fund’s total assets in U.S. Treasury securities and in repurchase agreements collateralized by such securities. |
• | Adjust the average maturity and effective duration of the Fund’s portfolio based on HIMCO’s assessment of multi-year trends in national and international economic conditions. |
• | Invest in long-term U.S. Treasury bonds, including U.S. Treasury Strips (zero coupon Treasury securities), when HIMCO determines that economic conditions suggest lower inflation and the multi-year trend is toward decreasing interest rates. |
• | Invest in U.S. Treasury bills or notes, Treasury Inflation-Protected Securities (TIPS), and Floating Rate Notes (FRNs) (maturities less than five years) when HIMCO determines that economic conditions suggest rising inflation and the multi-year trend is toward increasing interest rates. |
• | The effective duration of the Fund’s holdings is expected to vary from less than a year to a maximum of 25 years. |
• | The Fund’s holdings will range in maturity from less than a year to a maximum of the longest maturity Treasury bonds available. As of September 30, 2017, the effective duration of the Fund’s holdings was 22.60 years, and the average maturity of the Fund’s holdings was 27.66 years. |
• | When the Fund is invested in securities with longer weighted average maturities it will be more sensitive to changes in market interest rates and its share price may be subject to greater volatility. |
• | The Fund’s portfolio turnover rate will vary substantially from year to year. During some periods, turnover will be well below 50%. At other times, turnover could exceed 200% annually. At these times, increased portfolio turnover may result in higher transaction costs and may also result in taxable capital gains. |
• | Portfolio adjustments may require the sale of securities prior to their maturity date. The goal of these transactions will be to increase income and/or change the duration of the overall portfolio. |
Best — 9/30/2011 | 36.15% |
Worst — 12/31/2016 | -14.62% |
Average Annual Total Returns — (as of 12/31/17) | 1 Year | 5 Years | 10 Years |
Wasatch-Hoisington U.S. Treasury Fund — Investor Class | |||
Return Before Taxes | 10.46% | 3.55% | 7.35% |
Return After Taxes on Distributions | 9.49% | 1.90% | 5.63% |
Return After Taxes on Distributions and Sale of Fund Shares | 5.90% | 2.19% | 5.38% |
Bloomberg Barclays US Aggregate Bond Index (reflects no deductions for fees, expenses or taxes) | 3.54% | 2.10% | 4.01% |
Wasatch Advisors, Inc. | Hoisington Investment Management Company (HIMCO) |
Van
Hoisington Lead Portfolio Manager Since 1996 |
Van
R. Hoisington, Jr., “V.R.” Portfolio Manager Since January 2016 |
David
Hoisington Portfolio Manager Since January 2016 |
Investment Minimums | Investor Class |
New Accounts | $2,000 |
New Accounts with an Automatic Investment Plan | $1,000 |
Individual Retirement Accounts (IRAs) | $2,000 |
Coverdell Education Savings Accounts | $1,000 |
Subsequent Purchases | Investor Class |
Regular Accounts and IRAs | $100 |
Automatic Investment Plan | $50
per month and/or $100 per quarter |
• | You may purchase, sell (redeem) or exchange Fund shares on any day the New York Stock Exchange is open for business. |
• | To open a new account directly with Wasatch Funds or to purchase shares for an existing account, go online at www.WasatchFunds.com. For a new account, complete and electronically submit the online application. Accounts for third parties, trusts, corporations, partnerships and other entities may not be opened online and are not eligible for online transactions. By telephone, complete the appropriate application and call a shareholder services representative at 800.551.1700 for instructions on how to open or add to an account via wire. To open a new account by mail, complete and mail the application and any other materials (such as a corporate resolution for corporate accounts) and a check. To add to an existing account, complete the additional investment form from your statement or write a note that includes the Fund name and Class of shares (i.e., Investor Class), name(s) of investor(s) on the account and the account number. Send materials to: Wasatch Funds, P.O. Box 2172, Milwaukee, WI 53201-2172 or via overnight delivery to: Wasatch Funds, 235 W. Galena St., Milwaukee, WI 53212. |
• | To sell shares purchased directly from Wasatch Funds, go online at www.WasatchFunds.com, or call a shareholder services representative at 800.551.1700 if you did not decline the telephone redemption privilege when establishing your account. Redemption requests may be sent by mail or overnight delivery to the appropriate address shown above. Include your name, Fund name, Class of shares (i.e., Investor Class), account number, dollar amount of shares to be sold, your daytime telephone number, signature(s) of account owners (sign exactly as the account is registered) and Medallion signature guarantee (if required). For IRA accounts, please obtain an IRA Distribution Form from www.WasatchFunds.com or by calling a shareholder services representative. |
• | Fund shares may be bought or sold through banks or investment professionals, including brokers. They may charge you a transaction fee for this service. |
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