–Mutual Fund Observer Interview
In an interview with David Snowball, Andrew Foster discusses why he founded Seafarer and the characteristics that distinguish the Seafarer Fund.
Seafarer Overseas Growth and Income Fund
The Seafarer Overseas Growth and Income Fund seeks to offer investors a relatively stable means of participating in a portion of developing countries’ growth prospects, while providing some downside protection (in comparison to a portfolio that invests only in the common stocks of developing countries).
The Fund seeks to:
- provide long-term capital appreciation along with some current income
- mitigate adverse volatility in returns
The Fund can invest in dividend-paying common stocks, preferred stocks, convertible bonds, and fixed-income securities.
News and Commentary
–Seafarer Overseas Growth and Income Fund Launched
The primary investment objective of this new, no-load fund is to provide investors with long-term capital appreciation along with some current income by investing up to 80% in the income-producing securities of companies based in emerging markets. The Fund also can invest in securities of companies based in developed countries that have significant economic and financial ties to the developing world. As a secondary objective, the Fund seeks to mitigate adverse volatility in returns.
–On Mexico's Homes
The news from Mexico’s drug war continues to be grim. However, these horrific headlines obscure the fact that Mexico’s economy has enjoyed a degree of resilience despite the insurgent and criminal activities of the narcotics cartels. Perhaps surprisingly – and in contrast to recent U.S. experience – the local housing market has been a source of strength, benefitting from thoughtful government housing policies that have fostered stability and broadened demand. If Mexico manages to escape its current cycle of violence, the housing market may prove to be an important pillar of future growth.
–On the Sharia and Islamic Finance
The practice of banking according to Islamic principles, or “the Sharia” - the moral code and religious law of Islam - is relatively unknown within developed nations. However, in many parts of the developing world, Islamic banking is a burgeoning industry. It deserves closer scrutiny not only because it is bringing new and otherwise un-banked customers into the fold, but also because it serves as an alternative model for finance – and it may manage certain types of risk better than conventional Western models.