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According to Morningstar, William Maeck is no longer a portfolio manager for the Seafarer fund. His tenure ended 11/15/2013. I went to the Seafarer web site and there is no mention of him as a team member.
Andrew worked for Mr. Maeck, in Hong Kong if I recall correctly, before he joined Seafarer. He served as Seafarer's trader and part of the "if Andrew gets hit by a bus or he's out of contact and Stock X rises to level Y, then do the following" planning.
It's not clear that Seafarer is going to rush to replace him. It's one of those "of course, in time we'll ... but if somebody brilliant suddenly pops up sooner, then we'll ..." situations.
Reply to @reids: Of course, but that's true of any small business.
Two investment professionals in the field: Andrew and Kate Jaquet, whose background is in Latin America and fixed income. Michelle Foster runs the business end, but has pretty serious industry credentials (Litman/Gregory and Barclays Global Investors). And now Alex, the new guy handing the trading. He's got background as an investment analyst, but I don't know that he's currently in that role for Seafarer.
It concerns me, reids. There are other mutual funds that I otherwise like, AUXFX and PIVFX come to mind, for which I have the same concerns. Generally I'd like there to be a few people to bounce ideas off of each other. Vulcan Partners comes to mind as a small company that's big enough for me. Not even comfortable with a two man show, though. But of course, that's just me.
I don't think you stop investin big in funds who are so dependent on their managers. In fact I'm making a habit of it. That's how you keep managers accountable. And if manager gets hits by a bus, you just hop on to another bus...
Comments
Andrew worked for Mr. Maeck, in Hong Kong if I recall correctly, before he joined Seafarer. He served as Seafarer's trader and part of the "if Andrew gets hit by a bus or he's out of contact and Stock X rises to level Y, then do the following" planning.
It's not clear that Seafarer is going to rush to replace him. It's one of those "of course, in time we'll ... but if somebody brilliant suddenly pops up sooner, then we'll ..." situations.
For what it's worth,
David
Two investment professionals in the field: Andrew and Kate Jaquet, whose background is in Latin America and fixed income. Michelle Foster runs the business end, but has pretty serious industry credentials (Litman/Gregory and Barclays Global Investors). And now Alex, the new guy handing the trading. He's got background as an investment analyst, but I don't know that he's currently in that role for Seafarer.
David
It concerns me, reids. There are other mutual funds that I otherwise like, AUXFX and PIVFX come to mind, for which I have the same concerns. Generally I'd like there to be a few people to bounce ideas off of each other. Vulcan Partners comes to mind as a small company that's big enough for me. Not even comfortable with a two man show, though. But of course, that's just me.
I own AUXFX and PVIFX