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Fund Manager Q&A

Emerging Markets: Great Potential for the Patient

The growth story is intact for emerging markets, but it won't unfold overnight, says Seafarer Capital Partners CIO Andrew Foster.


As part of Morningstar's Emerging-Markets Week, we interviewed Andrew Foster, CIO of Seafarer Capital Partners and manager of Seafarer Overseas Growth & Income (SFGIX), about the issues and opportunities facing emerging-markets investors today. Foster, a former manager at Matthews Asia Funds, is featured as an undiscovered manager in the December/January 2014 issue of MorningstarAdvisor magazine. Below is an edited transcript of our conversation. Click here to view the full interview.

Morningstar: In your November letter to shareholders, you wrote, "As frustrating as this year has been, I do not think it matters much to the long-term investor with an objective perspective." We've heard the story about emerging-markets' potential for many years, especially coming out of the financial crisis. But this year, developed markets not just beating emerging markets by a little bit, but by quite a lot. So, what kind of perspective can you give investors to keep us on track?

Jason Stipp does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.