December 2019 – Paul Espinosa describes how large cap technology companies contributed to the performance of both the Growth and Income Fund and the benchmark index, but the Fund also benefited from unique holdings outside of technology. Paul highlights two Fund holdings – Richter Gedeon and Qualicorp – as he explains how Seafarer seeks growing cash flows, the return of cash flows to shareholders, and drivers of growth that are endogenous to a company.

Speakers

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

Related Information

• Portfolio Review – Fourth Quarter 2019
• 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 September 30, 2019, Samsung Electronics Co., Ltd. comprised 4.7% of the Seafarer Overseas Growth and Income Fund, Taiwan Semiconductor Manufacturing Co., Ltd. comprised 2.1% of the Fund, Alibaba Group Holding, Ltd. comprised 2.1% of the Fund, Richter Gedeon Nyrt comprised 2.7% of the Fund, and Qualicorp Consultoria e Corretora de Seguros SA comprised 2.8% of the Fund. The Fund did not own shares in Tencent Holdings, Ltd. View the Fund’s Top 10 Holdings. Holdings are subject to change.

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