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Andrew Foster, ex-Matthews Asian Growth and Income (MACSX) sighting

Dear friends,

As many of you know, Mr. Foster guided Matthews Asian Growth & Income (MACSX) for six years before leaving a couple weeks ago. The fund, whose archived profile will be available in a few days, was famous for pairing reasonable returns with its peer group's lowest volatility. When he left, Matthews posted the obligatory "to pursue other interests" boilerplate.

Andrew wrote this morning, to let me know that he's launched his own firm (Seafarer Capital Partners) with the hope, in the foreseeable future, of being able to launch a new mutual fund or two. The imagined fund would have an international focus and would be consciously designed to incorporate shareholder-friendliness. In the interim, Andrew is posting a weekly commentary. (

He's on the road now, but we'll try to talk before my May commentary about his plans. I'm confident that we'll also manage a profile of the fund once it's launched.

For what interest it holds,



  • David:

    This is an example of why we followed you here. I have held Matthews Asian Growth and Income from before Mr. Foster managed the fund; I have felt little reason to panic about his departure. Still, he did a solid job at Matthews. It is great to know that we will be getting the earliest possible word about his new fund(s).

  • Hi, Greg!

    I'd been searching the Internets for him, to no avail. Then he shot a couple emails off this morning with no warning. It's nice to be near, if not in, the loop!

  • Thanks for updating the gang here, David. (MFO will be as close as I ever get to the loop.)

    Noticed that there's a sign-in to receive e-mail updates the Seafarers may issue from time to time, if that's of interest to folks.
  • Given his positive outlook on the future of this country, I was thinking and hoping this may evolve into more of a global fund. Maybe w an international focus but willing to go where the value lies. Was this your sense or are we looking at building a better mousetrap on an Asian only basis? Anyway, I have bookmarked the site and requested to be put on a mailing list. Will be following with some interest.

    Thanks for the headsup!!

  • Matthews Asian Growth & Income (MACSX) is one of my core funds, I intend to continue with the fund. Thanks for the headsup.
  • Thanks for the info David.

  • Hi, guys.

    Mr. Foster and I haven't yet had time to chat, and he's certainly not near to registering the fund yet. As a result, the best I can offer by way of the fund's focus is his plan for a "new public mutual fund focused on overseas markets" and "incorporates the best ideas available today." From the context of the note, those "ideas" aren't limited to the fund's investing discipline.

    I'll try to have more details in the May commentary.

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