Seafarer®

Pursuing Lasting Progress in Emerging Markets

Consuelo Mack WealthTrack – Interview

– In an interview with Consuelo Mack, Andrew Foster asserts that emerging markets’ new financial independence might allow the asset class to exhibit a meaningful degree of “decoupling” from the developed world.

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  • The Morningstar Rating for funds, or “star rating,” is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-end mutual funds are considered a single population for comparative purposes. The rating is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
  • The Seafarer Overseas Growth and Income Fund was rated against the following numbers of U.S.-domiciled Diversified Emerging Markets funds over the following time periods as of October 31, 2017: 637 funds in the last three years and, for the Overall rating, 452 funds in the last five years. With respect to these Diversified Emerging Markets funds, the Seafarer Overseas Growth and Income Fund received a Morningstar Rating™ of four stars, four stars for the three- and five-year periods, respectively. 2017 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
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