(PUB) Investing 2016

265 / 708

23 Morningstar FundInvestor June 2016
Data through May 31, 2016 FINRA members: For internal or institutional use only.
Seafarer Overseas Gr and Income Investor Ticker
SFGIX
Yield
1.0%
Total Assets
$1,244 mil
Mstar Category
DiversifiedEmergingMkts
Benchmark 1: MSCI EM NR USD
Benchmark 2: MSCI ACWI Ex USA NR USD
Morningstar Analyst Rating 05-11-16
´
Morningstar Pillars
Process ∞ Positive
Performance ∞ Positive
People ∞ Positive
Parent ¶ Neutral
Price ∞ Positive
Morningstar Analyst Rating
Morningstar evaluates mutual funds based on five key pillars, which its
analysts believe lead to funds that are more likely to outperform over the
long term on a risk-adjusted basis.
Analyst Rating Spectrum
Œ „ ´ ‰ Á
Pillar Spectrum
∞ Positive § Negative ¶ Neutral
10.0
11.0
12.0
13.0
14.0
9.0
8.0
Historical Profile
Return
Risk
Rating
High
Average
QQQQQ
Highest
4 4 5 4 4 Investment Style
Equity
Growth of $10,000
Investment Values of
Fund
Investment Values of
Benchmark 1
& * & & Performance Quartile
(within Category)
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 05-16 History
. . . . . . 11.34 11.35 10.95 10.35 11.03 NAV
. . . . . . . 4.93 -0.52 -4.32 6.57 Total Return %
. . . . . . . 7.53 1.66 10.59 4.25 +/- Bmark 1
. . . . . . . -10.36 3.34 1.34 6.05 +/- Bmark 2
. . . . . . . 1.71 1.72 1.01 0.00 Income Return %
. . . . . . . 3.22 -2.25 -5.33 6.57 Capital Return %
. . . . . . . 17 26 3 10 Total Rtn % Rank Cat
. . . . . . 0.11 0.19 0.19 0.11 0.00 Income $
. . . . . . 0.00 0.35 0.15 0.02 0.00 Capital Gains $
. . . . . . 18.96 2.82 1.78 1.30 . Expense Ratio %
. . . . . . 2.61 0.90 1.66 1.19 . Income Ratio %
. . . . . . 5 39 51 28 . Turnover Rate %
. . . . . . 21 28 31 395 622 Net Assets $mil
Performance 05-31-16
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Total
2012 — -2.61 8.63 5.28 —
2013 3.17 -4.39 3.17 3.10 4.93
2014 0.62 4.14 -2.03 -3.10 -0.52
2015 8.58 2.08 -14.57 1.03 -4.32
2016 8.50 — — — —
Trailing Total
Return%
+/- Bmark
1
+/- Bmark
2
%Rank
Cat
Growth of
$10,000
3 Mo 9.97 0.37 0.87 39 10,997
6 Mo 4.14 4.10 5.51 6 10,414
1 Yr -9.67 7.96 1.72 11 9,033
3 Yr Avg 0.58 5.53 0.39 3 10,176
5 Yr Avg — — — — —
10 Yr Avg — — — — —
15 Yr Avg — — — — —
Tax Analysis Tax Adj Rtn% %Rank Cat Tax-Cost Rat %Rank Cat
3 Yr (estimated) -0.53 3 1.11 83
5 Yr (estimated) — — — —
10 Yr (estimated) — — — —
Potential Capital Gain Exposure: -7% of assets
Rating and Risk
Time
Period
Load-Adj
Return %
Morningstar
Rtn vs Cat
Morningstar
Risk vs Cat
Morningstar
Risk-Adj Rating
1 Yr -9.67
3 Yr 0.58 High Avg QQQQQ
5 Yr — — — —
10 Yr — — — —
Incept 4.74
Other Measures Standard Index Best Fit Index
Alpha 0.6 4.0
Beta 0.96 0.86
R-Squared 77 93
Standard Deviation 14.68
Mean 0.58
Sharpe Ratio 0.10
Portfolio Analysis 03-31-16
Total Stocks: 38
Share change since 12-31-15 Sector Country % Assets
RBank Bradesco SA ADR Finan Svcs Brazil 5.03
TSamsung Electronics Co Lt Technology South Korea 4.60
TBank Pekao SA Finan Svcs Poland 4.56
TSanlam Ltd Finan Svcs South Africa 4.39
TInfosys Ltd ADR Technology India 4.23
TSingapore Telecommunicati Comm Svcs Singapore 4.14
THang Lung Properties Ltd Real Est Hong Kong 4.09
TPT Astra International Tb Cnsmr Cyc Indonesia 3.98
TOdontoprev SA Hlth Care Brazil 3.03
THisamitsu Pharmaceutical Hlth Care Japan 2.87
TGrupo Financiero Banorte Finan Svcs Mexico 2.77
TShandong Weigao Group Med Hlth Care China 2.70
TTaiwan Semiconductor Manu Technology Taiwan 2.65
TTotvs SA Technology Brazil 2.62
TDongsuh Companies Inc Cnsmr Def South Korea 2.59
TTexwinca Holdings Ltd Cnsmr Cyc Hong Kong 2.42
TSun Pharma Advanced Resea Hlth Care India 2.31
TBolsa Mexicana de Valores Finan Svcs Mexico 2.08
TArcelik AS Technology Turkey 2.07
TAselsan Elektronik Sanayi Industrl Turkey 2.06
Current Investment Style
Large Mid Small
Value Blend Growth Market Cap %
Giant 33.9
Large 23.8
Mid 27.8
Small 14.1
Micro 0.4
Avg $mil:
6,534
Value Measures Rel Category
Price/Earnings 14.28 1.09
Price/Book 1.64 0.97
Price/Sales 1.71 1.30
Price/Cash Flow 6.33 1.18
Dividend Yield % 3.88 1.21
Growth Measures % Rel Category
Long-Term Erngs 9.70 0.78
Book Value 4.51 7.76
Sales 3.91 -2.33
Cash Flow -2.36 0.92
Historical Erngs 0.36 -0.04
Composition - Net
Cash 8.8 Bonds 4.3
Stocks 85.0 Other 1.9
Foreign (% of Stock) 100.0
Sector
Weightings
% of
Stocks
Rel
Bmark 1
h Cyclical 42.92 0.97
r BasicMat 1.13 0.15
t CnsmrCyc 13.57 1.40
y FinanSvcs 23.06 0.96
u Real Est 5.16 1.68
j Sensitive 38.06 0.92
i CommSrvs 4.87 0.72
o Energy 0.00 0.00
p Industrl 11.05 2.12
a Technlgy 22.14 0.99
k Defensive 19.01 1.33
s CnsmrDef 4.30 0.52
d Hlthcare 12.83 4.70
f Utilities 1.88 0.58
Regional Exposure % Stock
UK/W. Europe 0 N. America 0
Japan 3 Latn America 23
Asia X Japan 53 Other 21
Country Exposure % Stock
Brazil 16
South Korea 9
India 9
Poland 9
Hong Kong 8
Morningstar's Take by William Samuel Rocco 05-11-16
There is a seasoned and skilled skipper at the helm of
Seafarer Overseas Growth and Income. Lead manager
and chief investment officer Andrew Foster spent one
dozen years at Matthews International Capital
Management before he co-founded Seafarer Capital
Partners in 2011. Foster had an effective term as director
of research as well as successful tenures as a comanager
and lead manager at the firm. He has a solid four-person
investment team here--with significant Latin American
and global emerging-markets expertise--which is
encouraging given that he focused on investing in Asia
while at Matthews. The overall strength of Foster and the
investment team is one reason that this diversified
emerging-markets fund earns a Morningstar Analyst
Rating of Bronze.
Meanwhile, Foster follows a sound strategy on this
fund that is quite similar to the one that he and other
managers have used to produce good risk-adjusted
returns at Silver-rated Matthews Asian Growth & Income
MACSX. Specifically, he invests in a mix of dividend-
paying common and preferred stocks and convertible and
other bonds. He considers developed-markets securities
as well as emerging-markets issues. He regularly allows
his security selection to lead to atypical geographic and
sector weightings. And he takes an all-cap approach and
focuses on a few dozen names.
Foster has executed this distinctive process deftly
thus far, and this fund has handily outpaced the average
diversified emerging-markets offering and the MSCI
Emerging Markets Index on both a total-return and risk-
adjusted-return basis since opening in February 2012.
This fundalsohasa relativelyattractiveexpense ratio that
gives it a leg up going forward.
There is a significant amount of key-man risk here,
and the atypical asset mix could well hold this fund back
in certain types of equity rallies in the future. But
emerging-markets fans who are comfortable with those
risks and have long time horizons have ample grounds to
check this fund out.
Address: Financial Investors Trust (Seafarer) Minimum Purchase: $2500 Add: $100 IRA: $1000
Denver, CO 80203 Min Auto Inv Plan: $1500 Add: $100
855-732-9220 Sales Fees: No-load, 2.00%R
Web Address: Management Fee: 0.75%
Inception: 02-15-12 Actual Fees: Mgt:0.75% Dist:—
Advisor: Seafarer Capital Partners, LLC Expense Projections: 3Yr:$365 5Yr:$633 10Yr:$1396
Subadvisor: None Income Distribution: Annually
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