Seafarer Capital Partners is well-run, focused, and quite appealing overall, and it merits an Above Average Parent rating.
The firm, which was founded by Andrew and Michelle Foster in 2011, is 100% employee-owned. Andrew Foster (who serves as CIO and as a portfolio manager) and Michelle Foster (who serves as CEO) are experienced and talented investment professionals who have strong resumes for their roles. Seafarer has grown its staff wisely over the years and increased the responsibilities of several individuals along the way, and both its investment and operations/executive teams are well-sized and well-credentialed.
Seafarer focuses on diversified emerging-markets strategies, and its two offerings have overlapping—and strong—management teams and processes. Seafarer Overseas Growth and Income, which has nearly all of the firm’s USD 3.3 billion in assets under management, has held up well in most downturns, suffered relatively modest volatility over time, and earned good total and risk-adjusted returns since its early 2012 inception. Seafarer Overseas Value has been similarly successful since opening in mid-2016.
Both strategies have attractive expense ratios all things considered, and their institutional share classes are exceptionally accessible. Seafarer isn't laudable in all areas: Manager ownership is mixed rather than good across the board. But the firm treats its fundholders very well overall.
Note: This share class' Parent Pillar rating is analyst-driven, as its Branding Name, Seafarer (Branding Name ID: BN00000E3T), is covered by Morningstar Manager Research.
United States