http://www.seafarerfunds.com/video/2016/03/quarterly-briefing/?utm_medium=email&utm_campaign=2016-04-06 Quarterly Briefing Individual Investor - Monthly&utm_content=2016-04-06 Quarterly Briefing Individual Investor - Monthly+CID_093448545840c6355a189d212fe43027&utm_source=E mail Campaign&utm_term=Quarterly Briefing
For those invested-- or who just like to watch-- here's one "interpretive reading" of the continuing EM turmoil. (Maybe) every little bit counts.

@kevindow, as much as I like MACSX in the past, I invest with Andrew Foster's new fund, SFGIX since inception. Better diversification and risk profile.

I'm down to 8% foreign. After sticking to my guns about Asia for years, it's just plain not making me much money, anymore. Lots of macro reasons for that, of course. SFGIX is a small bite of my stuff now, too. Started with it 3 years ago.

@Derf- for heaven's sake, I'm the very last person that you should ask for advice. I know nothing!!
All that I can tell you is that I'm still a few k ahead on MAPIX and ARTGX, and if they get any closer to breakeven I'm probably going to leave. SFGIX looks pretty sound, so far, but I'm watching our entire foreign exposure very closely.

I have been a fan of Matthews in general for many years and have owned both MAPIX when it first opened as an alternative to MACSX when that fund was closed to new investors. When MACSX reopened, I moved my MAPIX money to it. But when moving my 401k money to an IRA I was able to buy SFGIX. I moved that EM chunk of money again, to Andrew Foster.
At one time years back on this discussion board, many were saying Asia is the future - that's where the bulk of your money should be. Well, that was baloney then and it still is - at least I don't see it happening in my life time. Some exposure to Asia is great, but I for one don't think you need an Asia specific (especially China specific) fund. Not When Andrew Foster's fund is available. Who better then to determine an Asia allocation? And right now Foster is reducing Asia exposure. Matthews funds are the best of the Asian specific class, but are they needed other than for momentum bets? Here is a quote I pulled out of a different MFO post on SFGIX.

February 2016 – In his latest portfolio review, Andrew Foster discusses a shift in the Fund’s composition, away from the Asian region, and toward larger stocks at the expense of smaller ones. Next, he speculates as to the cause behind the collapse in China’s capital markets. While he does not offer a definitive explanation, he does suggest that circumstances may be serious enough to warrant attention from investors.

FYI: (Click On Article Title At Top Of Google Search) "How an Emerging-Market Fund Stays on Even Keel -"
Seafarer Overseas Growth & Income tries to smooth out the volatility associated with emerging lands.
Regards,
Ted
https://www.google.com/#q=How+an+Emerging-Market+Fund+Stays+on+Even+Keel+Barron's
M* Snapshot SFGIX:
http://www.morningstar.com/funds/xnas/sfgix/quote.html
Lipper Snapshot SFGIX:
http://www.marketwatch.com/investing/fund/sfgix
SFGIX Is Unranked In The (DEM) Fund Category By U.S. News & World Report:
http://money.usnews.com/funds/mutual-funds/diversified-emerging-mkts/seafarer-overseas-growth-and-income-fund/sfgix

Based on Seafarer's recent shift to have more focus on LA and less on Asia, there is clearly more diversification in owning MAPIX and SFGIX than there was previously. While SFGIX owned more mid and small cap stocks in the past, that is changing, too. In that regard, the market cap could well be closer to MAPIX. In terms of stock overlap, there was very little before, so probably even less now. Mr. Foster runs SFGIX in much the same way Matthews runs their funds...a good thing in my opinion. Owning both of these might fit in a conservative investor's portfolio, where some exposure to EM is desired, but in a cautious and conservative way.

Andrew Foster dropped a note in my mailbox this afternoon to inform me that the 4th Qtr Portfolio review for SFGIX has been posted. As most know, Mr. Foster worked in Asia for some time before his days at Mathews and reacts (and doesn't react) to Asian events in uncharacteristic ways. Always worth a glance, IMO, even if one isn't prepared to have him work with your money just yet.
http://www.seafarerfunds.com/fund/portfolio-review
His current stance on Asia--- and on emerging market stocks in general--- has taken a turn, and I think it's worth a smoke in the pipe:

February 2016 – In his latest portfolio review, Andrew Foster discusses a shift in the Fund’s composition, away from the Asian region, and toward larger stocks at the expense of smaller ones. Next, he speculates as to the cause behind the collapse in China’s capital markets. While he does not offer a definitive explanation, he does suggest that circumstances may be serious enough to warrant attention from investors.

heezafe,
Thanks for the information.
It sounds like you know a bit about the Matthews Funds as well a Seafarer Overseas Growth and Income.
If my research is correct and current, MAPIX is about 30% Japan and 35% China/Hong Kong, MACSX is about 36% China/Hong Kong and 6% Japan, and the last I looked SFGIX was about 17% China/Hong Kong and 3% Japan, with a total of 52% in Asia, so it is more diverse in the Asia space than MACSX or MAPIX. Also, SFGIX had a 13% position in Emerging Europe, 21% in Latin America, and 5% in South Africa.
Currently I own MACSX (seems to be the least risky of the three) in a retirement account and I am trying to figure out if owning SFGIX and or MAPIX gives me added diversification, or I just would be collecting funds.
Any thoughts would be appreciated.
Mona

Andrew Foster dropped a note in my mailbox this afternoon to inform me that the 4th Qtr Portfolio review for SFGIX has been posted. As most know, Mr. Foster worked in Asia for some time before his days at Mathews and reacts (and doesn't react) to Asian events in uncharacteristic ways. Always worth a glance, IMO, even if one isn't prepared to have him work with your money just yet.
http://www.seafarerfunds.com/fund/portfolio-review
His current stance on Asia--- and on emerging market stocks in general--- has taken a turn, and I think it's worth a smoke in the pipe:

February 2016 – In his latest portfolio review, Andrew Foster discusses a shift in the Fund’s composition, away from the Asian region, and toward larger stocks at the expense of smaller ones. Next, he speculates as to the cause behind the collapse in China’s capital markets. While he does not offer a definitive explanation, he does suggest that circumstances may be serious enough to warrant attention from investors.

None of the above for me. I like WAEMX, WAFMX, SFGIX, DRESX, NWFFX. Too many inefficiencies in EMs for me to use an index fund that owns more than 3,000 positions.

RSIVX WBMAX ARIVX PRPFX AQRNX MFLDX WAFMX SFGIX I just hope GPMCX is not the next.

Not arguing with your overall point, but I don't think WAFMX and SFGIX deserve to be on that list. Sure, they've lost a good amount of money on an absolute basis, but they have still performed much better than the rest of the emerging markets sector. Folks that "jumped on the bandwagon" for these funds are still better off than if they had put their money in almost any other emerging markets fund.

Completely agree and I apologize. They are five star funds and I can understand long term investors being in them. I just have a thing about holding losers over a long period of time as I want my capital compounding on a *consistent* basis. I realize though 3 years is not a "long period of time" for most investors. Unlike most here, I don't have a salary or pension to fall back on during the lean times.

RSIVX WBMAX ARIVX PRPFX AQRNX MFLDX WAFMX SFGIX I just hope GPMCX is not the next.

Not arguing with your overall point, but I don't think WAFMX and SFGIX deserve to be on that list. Sure, they've lost a good amount of money on an absolute basis, but they have still performed much better than the rest of the emerging markets sector. Folks that "jumped on the bandwagon" for these funds are still better off than if they had put their money in almost any other emerging markets fund.

RSIVX WBMAX ARIVX PRPFX AQRNX MFLDX WAFMX SFGIX I just hope GPMCX is not the next.

;-)

RSIVX WBMAX ARIVX PRPFX AQRNX MFLDX WAFMX SFGIX I just hope GPMCX is not the next.

Thanks. I'm not the first to mention it, but there is a sea-change going on. It tastes bad. Like green eggs and ham. Yux. I will hold onto SFGIX, anyhow.

Informative. Realistic. Candid. I did not get in right at the moment of Inception, but just several months after that, back in 2012. Am I holding dead money in this fund? SFGIX.

Just curious :-) I've been buying shares of SFGIX, FMIJX and GAOAX over the past few days.

Leverenz is a great EM manager, but don't expect him to be a cautious investor. He runs a concentrated portfolio of only about 100 positions, despite the funds huge asset base. We did use Thornburg until their hot manager left for Artisan. An option for those who want lower volatility is Seafarer SFGIX. We use it in our less aggressive accounts.

I dunno why M* does not include the ubiquitous horizontal bar-graph on their MAPIX page re: risk/reward. But FPBFX has an inverted risk/reward profile. I don't like that. However, look at Rank In Category. You might convince even ME to get into FPBFX. But I'm covering my international "piece" with SFGIX and PRIDX, now. I'm holding just 9% ex-USA in equities.

Andrew Foster SFGIX and SIGIX biggest chunks are in Latin Amer (23.62%) and Asia (57.87) and Europe/Middle East: 18.51. Emerging: 68.16%.
http://portfolios.morningstar.com/fund/details?t=SFGIX&region=usa&culture=en-US