May 2014 –
In his address to shareholders, Andrew Foster reflects on the
that weighed upon the emerging markets during the past year. Despite such challenges, stock prices were
Andrew asserts this was because equities in the developing world were
(and are) inexpensive. During a year beset by many troubles,
China was the most worrisome market of all.
Andrew acknowledges his concerns, but encourages shareholders to
peer over the “great wall of worry.”
The Middle Kingdom is engaged in a sweeping set of economic reforms
that have the potential to put the country on an improved path.
The final section of the letter includes
announcements of interest to shareholders.
The Fund seeks to provide long-term capital appreciation
along with some current income; it also seeks to mitigate
adverse volatility in returns.
The Fund invests primarily in the securities of companies located in developing countries. The Fund invests in several asset classes including dividend-paying common stocks, preferred stocks, convertible bonds, and fixed-income securities.
ALPS Distributors, Inc. is the distributor for the
Seafarer Overseas Growth and Income Fund.
Investors should consider the investment
objectives, risks, charges and expenses
carefully before making an investment decision.
This and other information about the Fund is
contained in the
which may be obtained by calling (855) 732-9220.
Please read the
carefully before you invest or send money.
An investment in the Fund involves risk, including possible loss of principal. International investing involves additional risk. These include risks related to social and political instability, market illiquidity, and currency volatility. Investing in foreign securities may involve certain additional risks, exchange-rate fluctuations, limited liquidity, high levels of volatility, and reduced regulation. Emerging markets are often more volatile than developed markets, and investing in emerging markets involves greater risks. Fixed-income investments are subject to additional risks, including but not limited to interest-rate, credit, and inflation risks. Given the potential increased volatility of the Fund, an investment in the Fund should be considered a long-term investment.
Seafarer Capital Partners, LLC700 Larkspur Landing Circle, Suite 105Larkspur, CA 94939