The firm, which was founded by Andrew and Michelle Foster in 2011 and had $2.0 billion in assets as of November 2022, is 100% employee-owned and offers two diversified emerging-markets strategies. Andrew Foster, who serves as CIO and as a portfolio manager, is a seasoned and skilled investor with considerable emerging-markets expertise. Michelle Foster, who serves as CEO, has a strong resume as well. Seafarer has grown its investment and operations/executive teams wisely over the years—and expanded the roles of several individuals along the way—and the firm is well staffed overall.
Both Seafarer funds use sound and distinctive processes that have a lot in common with one that Foster used to earn good long-term risk-adjusted returns at a previous charge. Seafarer Overseas Growth & Income, which has nearly all of the firm’s assets, has suffered relatively modest volatility and delivered strong risk-adjusted returns since its early 2012 inception, while Seafarer Overseas Value has accomplished the same since opening in mid-2016.
The firm closed Seafarer Overseas Growth and Income for roughly two years to preserve capacity and protect the interests of fundholders, it has made the institutional share classes of both funds exceptionally accessible, and both funds are attractively priced.
United States