April 2023 – Andrew Foster describes how misperceptions about China’s post-Covid re-opening swung markets, and how the Growth and Income Fund fared amid the swings. Paul Espinosa discusses the value he sees in a new holding in India. Andrew concludes by offering his views on what Alibaba’s restructuring announcement might mean.

Speakers

• Paul Espinosa, Portfolio Manager
• Andrew Foster, Chief Investment Officer and Portfolio Manager
• Natalia Urbanek, National Accounts Manager

Related Information

• Portfolio Review – First Quarter 2023
• Discussion of Alibaba in Second Quarter 2022 Portfolio Review
• Fund Performance
• What is Control Party Analysis?
• 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, 2023, Alibaba Group Holding, Ltd. comprised 3.8% of the Seafarer Overseas Growth and Income Fund, Sanlam, Ltd. comprised 3.3% of the Fund, Samsung Electronics Co., Ltd., Pfd. comprised 3.5% of the Fund, and Samsung Electronics Co., Ltd. comprised 1.4% of the Fund. The Fund did not own shares in the other securities referenced in this video. View the Fund’s Top 10 Holdings. Holdings are subject to change.

Sources: ALPS Fund Services, Inc.; Bloomberg; Seafarer; J.P. Morgan, “Emerging Markets Equity Strategy Steering Board,” January 5, 2023; J.P. Morgan, “Emerging Markets Equity Strategy Steering Board,” March 30, 2023; J.P. Morgan, “EM Lighthouse: 4Q22 Earning Season Tracker,” January 5, 2023.

Natalia Urbanek is a Registered Representative of ALPS Distributors, Inc.