July 2020 – Paul Espinosa describes how large cap, cyclical companies led performance of the Value Fund, while small caps detracted from performance. He explains that the Fund is adding large caps and “gems” (companies with high returns on capital, good management and capital discipline) with once-in-a-cycle valuation levels. Paul highlights the addition of Mondi, a global packaging and paper company, to the portfolio.

Speakers

• Daniel Duncan, Managing Director, Business Development and Client Services
• Paul Espinosa, Portfolio Manager

Related Information

• Portfolio Review – Second Quarter 2020
• Fund Performance
• White Paper: On Value in the Emerging Markets
• Portfolio Briefing Archives

The views and information discussed in this video are as of the date of publication, are subject to change, and may not reflect Seafarer’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.

As of March 31, 2020, Cherkizovo Group PJSC comprised 1.7% of the Seafarer Overseas Value Fund. The Fund did not own shares in Mondi Group. View the Fund’s Top 10 Holdings. Holdings are subject to change.

Daniel Duncan is a Registered Representative of ALPS Distributors, Inc.