March 2023 – In an article for China Leadership Monitor, Nicholas Borst examines the scale of China’s debt problem and how policymakers can put the country’s balance sheet on firmer footing.

CFA Society San Francisco – Interview with Nicholas Borst

January 2023 – In an interview with CFA Society San Francisco, Nicholas Borst explains that amid increasing state control over China’s economy and tense U.S.-China relations, there are four underappreciated developments in Chinese companies and corporate governance. Listen

January 2023 – Andrew Foster explains that he is optimistic about the merit of long-term investment in EM due to the resiliency of corporate profits and currencies, healthy balance sheets, and valuations that are accommodative for investors seeking yield and growth. He introduces three new Growth and Income Fund positions in India and one in Mexico.

January 2023 – Paul Espinosa suggests that the Value Fund’s performance was driven by the low valuations and improving profit prospects of the Fund’s holdings. He introduces three new holdings: Petronet, Bank of Georgia, and Odontoprev.

December 2022 – In an interview with Value Investor Insight, Paul Espinosa discusses Value Fund holdings to illustrate how the Fund identifies companies that are undervalued or poised to be more productive.

February 2023 – Seafarer defines Control Party Analysis as an empirical means to assess the governance of a company, used in lieu of subjective attempts to determine “the quality of management.”

January 2023 – Andrew Foster reports that the Growth and Income Fund’s performance was driven by recoveries in Asian, Eastern European, and semiconductor holdings. Lydia So introduces three new growth positions in Mexico and India, and Paul Espinosa discusses the Fund’s value holdings.

January 2023 – Paul Espinosa discusses how Value Fund performance was driven in part by cyclical holdings that outperformed against headwinds. He notes that the Fund intends to provide shareholders with a differentiated source of return that is diversified from the market and shareholders’ other investments.