India Is a Compelling Investment Opportunity
- Rapid Economic Growth: A $4 trillion economy that is expected to grow roughly 8%/yr over the next five years1
- Undiscovered Small Caps: Abundance of small, vibrant companies-including 304 IPOs over the past five years2
- High Quality Companies: In our view, India has among the highest quality management teams and the best business infrastructure and regulatory environment within emerging countries
Small Caps Have the Advantage
- Faster Growth: It is easier for small companies to grow faster than large ones
- Stronger Link to Economy: Small Indian companies are typically tied directly to the local economy and the growing middle class
- Less Followed: Small companies are less followed, thus creating greater market inefficiencies
Wasatch is Uniquely Positioned
- Substantial India Experience: Wasatch has been researching, visiting and investing in Indian companies for over a decade across various Wasatch funds. Ajay alone has visited roughly 300 Indian companies over that period.
- Small Cap Experts: Wasatch has focused on small cap investing for over 35 years
- Proven Research Approach: The Wasatch thorough, collaborative, and disciplined approach is an important advantage in sorting the wheat from the chaff in small cap investing
- Seasoned Portfolio Managers: Veteran investors, Ajay Krishnan & Roger Edgley will lead the Wasatch team in managing the Fund.
Ajay Krishnan, CFAPortfolio Manager Industry Experience: 17 years |
Roger Edgley, CFAPortfolio Manager Industry Experience: 19 years |
Values are Appealing
- Small caps are the best relative value on a P/E basis
- Small caps are expected to grow faster
- The Fund's primary benchmark (MSCI India IMI Index) was roughly 11% off its recent high as of 3/31/11, with no fundamental shift in our outlook