December 2020 – Paul Espinosa discusses how Value Fund performance was led by a strong comeback of holdings that had sold off earlier in the year due to the pandemic. He describes the current risks associated with investment in the Fund and other asset classes, and notes that risk management requires diversification of the drivers of investment return.

Speakers

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

Related Information

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

The performance data quoted represents past performance and does not guarantee future results. Future returns may be lower or higher. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.

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, 2020, Samsung SDI Co., Ltd. comprised 4.9% of the Seafarer Overseas Value Fund, Ambev SA comprised 2.6% of the Fund, Itaú Unibanco Holding SA comprised 2.4% of the Fund, First Pacific Co., Ltd. comprised 5.4% of the Fund, Pico Far East Holdings, Ltd. comprised 0.3% of the Fund, Giordano International, Ltd. comprised 2.2% of the Fund, Melco International Development, Ltd. comprised 3.7% of the Fund, and Shangri-La Asia, Ltd. comprised 4.5% of the Fund. View the Fund’s Top 10 Holdings. Holdings are subject to change.

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