Seafarer Overseas Growth and Income Fund Portfolio Briefing – First Quarter 2019
– Inbok Song describes five characteristics she looks for in growth-oriented holdings for the Growth and Income Fund. She also discusses two Fund holdings: China Yangtze Power, a Chinese A-Share-listed provider of hydropower, and Techtronic, a Hong Kong-based provider of industrial tools.
Seafarer Overseas Value Fund Portfolio Briefing – First Quarter 2019
– Paul Espinosa explains that the key drivers of return for the Value Fund during the quarter were earnings growth, asset restructuring, and exogenous factors. He notes that the Value strategy views risk in terms of the operational performance of companies.
Letter to Shareholders – Semi-annual Report
November 2018 – Andrew Foster explains that despite unsatisfactory performance, he believes the emerging markets still warrant long-term investment, chiefly because of their potential to decouple from the investment cycle of the developed world. Andrew asserts that current U.S. trade policy will push China toward greater economic independence, and the pace of transformation will likely surprise observers. When the transition is complete, the emerging markets will follow a new and differentiated investment cycle, with China at their center.