Seafarer®

Pursuing Lasting Progress in Emerging Markets

Field Notes: Santiago

Third Quarter 2012

Regional ambitions - the tallest building in Latin America, under construction
Corporate headquarters - avant garde architectural design is common throughout Santiago
Modern architecture, snow-capped mountains
A high-end hypermarket, with a focus on service
Avenida Apoquindo
Construction at the Santiago International Airport
View of the Andes en route from Santiago to São Paulo

The views and information discussed in this commentary are as of the date of publication, are subject to change, and may not reflect the writer's current views. The views expressed represent an assessment of market conditions at a specific point in time, are opinions only and should not be relied upon as investment advice regarding a particular investment or markets in general. Such information does not constitute a recommendation to buy or sell specific securities or investment vehicles. It should not be assumed that any investment will be profitable or will equal the performance of the portfolios or any securities or any sectors mentioned herein. The subject matter contained herein has been derived from several sources believed to be reliable and accurate at the time of compilation. Seafarer does not accept any liability for losses either direct or consequential caused by the use of this information.

Kate Jaquet is a Registered Representative of ALPS Distributors, Inc.