Seafarer Overseas Growth & Income Fund Inv Cl · NASDAQ:SFGIX
Seafarer Overseas Growth & Income Fund Inv Cl — Seafarer Capital Partners — Investor Presentation (January 2013)
20 slides from Seafarer Overseas Growth & Income Fund Inv Cl's investor presentation, Jan 24, 2013
Slide 1: Shareholder Conference Call
Shareholder Conference Call Seafarer Capital Partners, LLC 24 January 2013
Slide 2: Disclosures
Disclosures ALPS Distributors, Inc. is the distributor for the Seafarer Overseas Growth and Income Fund. William Maeck and Kate Jaquet are Registered Representatives of ALPS Distributors, Inc. This material must be accompanied or preceded by a prospectus. View the Fund’s prospectus at www.seafarerfu
Slide 3: Agenda
Agenda Section 1: A brief retrospective – what sort of fund do you own? • A quick tour of the Seafarer Overseas Growth and Income Fund • Milestones from the first year of operations • Portfolio summary: drivers of performance; top holdings Section II: An outlook for the year ahead – walk on, but tre
Slide 4: Section 1: What sort of fund do you own?
Section 1: What sort of fund do you own? 3
Slide 5: Portfolio Composition – Regions
Portfolio Composition – Regions 100% Cash and Other Assets, Less 90% Liabilities 80% Other Markets 70% Middle East & Africa 60% Latin America 50% 40% Eastern Europe 30% East & South Asia 20% 10% 0% Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Data shown for the period 3/31/1
Slide 6: Portfolio Composition – Sectors
Portfolio Composition – Sectors 100% Cash and Other Assets, Less Liabilities 90% Utilities 80% Telecommunication Services Other 70% Materials 60% Information Technology 50% Industrials 40% Health Care 30% Financials Energy 20% Consumer Staples 10% Consumer Discretionary 0% Data shown for the period
Slide 7: Portfolio Composition – Capitalization Size
Portfolio Composition – Capitalization Size 100% Cash and Other Assets, Less 90% Liabili=es 80% Not applicable 70% 60% Small Cap (under $1 billion) 50% 40% Mid Cap ($1 -‐$10 billion) 30% 20% Large Cap (over $10 billion) 10% 0% Data shown for the period 3/31/12 – 12/31/12 on monthly intervals. Portf
Slide 8: Portfolio Valuation Characteristics
Portfolio Valuation Characteristics Gross PorNolio Yield (%) * (LeQ Axis) Price / Book** -‐ Prior Year (LeQ Axis) Price / Earnings** -‐ This Year (Right Axis) 8 16 Axis for Gross Por2olio Yield, Price / Book 7 14 6 12 Axis for Price / Earnings 5 10 4 8 3 6 2 4 1 2 0 0 30-Day SEC Yield: SFGIX 1.67%
Slide 9: First Year Milestones
First Year Milestones Seafarer Overseas Growth and Income Fund $12.00 Net Asset Value (2/15/12 - 1/15/13) $30 million $11.50 AUM Voluntary $11.00 Fee Launch: Reduction ~ $2 million $10.50 AUM* 2nd Distribution 1st Distribution 8.7¢ per share 3.5¢ per share $10.00 $10 million AUM $9.50 $9.00 Past per
Slide 10: Fund Performance
Fund Performance As of 31 December 2012 Cumulative Total Return NAV / Index Level Since Inception Net Expense 1 Month 3 Month (12/31/12) Inception Date Ratio1 SFGIX (Investor Class) $11.34 4.60% 5.28% 14.61% 2/15/12 1.40% SIGIX (Institutional Class) $11.34 4.66% 5.24% 14.70% 2/15/12 1.25% MSCI Emerg
Slide 11: Sources of Performance - Regions
Sources of Performance - Regions NAV Contribu=on By Region (SFGIX) 2/15/12 (Incept) -‐ 12/31/12 $12.00 $0.21 $0.06 $11.50 $0.38 $0.01 $11.34 $0.13 $0.04 $0.11 $11.00 $0.96 $10.50 $10.00 $10.00 $9.50 $9.00 Past performance does not guarantee future results. Sources: Bloomberg, Seafarer. 10
Slide 12: Top Holdings
Top 10 Holdings As of 31 December 2012 % Net Issuer Market Price / Price / Forecast Holding Sector Country Assets Cap ($B) Yield 1 Book Earnings EPS Growth SIA Engineering Co., Ltd. Industrials Singapore 4.9% $4.0 5.0% 4.0 17 5% PGE Polska Grupa Utilities Poland 4.7% $11.0 10.1% 0.8 8 -28% Energetyc
Slide 13: Section 2: Outlook – walk on, but tread carefully
Section 2: Outlook – walk on, but tread carefully 12
Slide 14: Emerging Markets – Sales Growth
Emerging Markets – Sales Growth MSCI Emerging Markets Index: Annual Sales Growth, Trailing 12 Months (1/31/03 -‐ 12/31/12) 35% Sales growth not especially strong relative to history 30% 25% 20% 15% 10% 5% 0% -‐5% Past performance does not guarantee future results. 13 Source: MSCI Global, via Facts
Slide 15: Emerging Markets – Earnings Forecasts
Emerging Markets – Earnings Forecasts MSCI Emerging Markets Index: Consensus Forecast for Growth in Nominal Earnings per Share (1/31/03 -‐ 12/31/12) 80% 70% Consensus forecasts are 60% beginning to creep upward Unrealistic forecasts, again, in contrast to weak 50% ~25% - 30% earnings growth, top-li
Slide 16: Emerging Markets – P/E Multiples
Emerging Markets – P/E Multiples MSCI Emerging Markets Index: Price / Earnings, Trailing 12 Months (1/31/03 -‐ 12/31/12) 25 Meanwhile, investors are being asked to pay more for 20 shares, despite weak top-line growth 15 10 5 0 Past performance does not guarantee future results. Source: MSCI Global,
Slide 17: Around the World in 5 Minutes
Around the World in 5 Minutes • China: the country is caught between bright prospects for the future and the sobering reality of the present. China is facing a structural decline in the rate of economic growth; yet it has plenty of room to expand its domestic service sector, potentially offsetting m
Slide 18: Section 3: Question and Answer Session
Section 3: Question and Answer Session To ask a question, press *1 on your phone. To withdraw your question, press *2. 17
Slide 19: Glossary
Glossary Dividend Yield (Trailing 12-Mo) a measure of the sum of the dividends paid per share during the trailing 12 months divided by the current share price. Earnings Per Share Growth (EPS Growth) forecast growth rate of earnings per common share this year (or, if noted, next year), expressed as a
Slide 20: seafarerfunds.com
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