(PUB) Investing 2016

23

June 2016

Morningstar FundInvestor

Data through May 31, 2016 FINRA members: For internal or institutional use only. Seafarer Overseas Gr and Income Investor

Ticker SFGIX

Yield 1.0%

Total Assets $1,244 mil

Mstar Category DiversifiedEmergingMkts

Benchmark 1: MSCI EM NR USD Benchmark 2: MSCI ACWI Ex USA NR USD Morningstar Analyst Rating 05-11-16 ´

Investment Style Equity

Historical Profile Return Risk Rating High Average QQQQQ Highest

4 4 5 4 4

10.0 11.0 12.0 13.0 14.0 9.0

Growth of $10,000

Investment Values of Fund Investment Values of Benchmark 1

Morningstar Pillars Process

∞ Positive ∞ Positive ∞ Positive ¶ Neutral ∞ Positive

Performance

People Parent

8.0

Performance Quartile (within Category)

& * & &

Price

History

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 05-16

Morningstar Analyst Rating Morningstar evaluates mutual funds based on five key pillars, which its analysts believe lead to funds that are more likely to outperform over the long term on a risk-adjusted basis. Analyst Rating Spectrum Œ „ ´ ‰ Á

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 . . . . . . 21

11.34 11.35 10.95 10.35 11.03

NAV

4.93 -0.52 -4.32 6.57 7.53 1.66 10.59 4.25 -10.36 3.34 1.34 6.05 1.71 1.72 1.01 0.00 3.22 -2.25 -5.33 6.57

Total Return % +/- Bmark 1 +/- Bmark 2 Income Return % Capital Return % Capital Gains $ Expense Ratio % Income Ratio % Turnover Rate % Net Assets $mil Total Rtn % Rank Cat Income $

Pillar Spectrum ∞ Positive

17

26

3

10

§ Negative

¶ Neutral

0.11 0.19 0.19 0.11 0.00 0.00 0.35 0.15 0.02 0.00

Performance 05-31-16 1st Qtr 2nd Qtr

. . .

18.96 2.82 1.78 1.30 2.61 0.90 1.66 1.19

3rd Qtr

4th Qtr

Total

2012 2013 2014 2015 2016

— -2.61 8.63 5.28

—

39 28

51 31

28

3.17 -4.39 3.17 3.10 4.93 0.62 4.14 -2.03 -3.10 -0.52 8.58 2.08 -14.57 1.03 -4.32

395

622

Rating and Risk Time Period Load-Adj Return %

Portfolio Analysis 03-31-16 Total Stocks: 38 Share change since 12-31-15 R Bank Bradesco SA ADR T Samsung Electronics Co Lt

8.50

— — — —

Morningstar Rtn vs Cat

Morningstar Risk vs Cat

Morningstar Risk-Adj Rating

Sector

Country

% Assets

Trailing

Total Return%

+/- Bmark 1

+/- Bmark 2

%Rank Cat

Growth of $10,000

Finan Svcs Brazil

5.03 4.60 4.56 4.39 4.23 4.14 4.09 3.98 3.03 2.87 2.77 2.70 2.65 2.62 2.59 2.42 2.31 2.08 2.07 2.06

1 Yr 3 Yr 5 Yr

-9.67 0.58

3 Mo 6 Mo

9.97 0.37 0.87 4.14 4.10 5.51 -9.67 7.96 1.72 0.58 5.53 0.39

39 10,997 6 10,414 11 9,033 3 10,176

Technology South Korea

Avg QQQQQ

High

T Bank Pekao SA

Finan Svcs Poland

— — — — — — — —

1 Yr

T Sanlam Ltd

Finan Svcs South Africa

10 Yr Incept

3 Yr Avg 5 Yr Avg 10 Yr Avg 15 Yr Avg

T Infosys Ltd ADR

Technology India

4.74

— — — — — — — — — — — — — — —

T Singapore Telecommunicati T Hang Lung Properties Ltd T PT Astra International Tb T Hisamitsu Pharmaceutical T Grupo Financiero Banorte T Odontoprev SA

Comm Svcs Singapore

Real Est

Hong Kong

Other Measures

Standard Index

Best Fit Index

Cnsmr Cyc Indonesia Hlth Care Brazil Hlth Care Japan Finan Svcs Mexico

Alpha

0.6

4.0

Beta

0.96

0.86

Tax Analysis

Tax Adj Rtn% %Rank Cat Tax-Cost Rat %Rank Cat

R-Squared

77

93

3 Yr (estimated) 5 Yr (estimated) 10 Yr (estimated)

-0.53

3

1.11

83

— — — — — — — —

Standard Deviation

14.68

T Shandong Weigao Group Med Hlth Care China T Taiwan Semiconductor Manu Technology Taiwan

Mean

0.58 0.10

Sharpe Ratio

T Totvs SA

Technology Brazil

Potential Capital Gain Exposure: -7% of assets

T Dongsuh Companies Inc T Texwinca Holdings Ltd

Cnsmr Def

South Korea

Morningstar's Take by William Samuel Rocco 05-11-16 There is a seasoned and skilled skipper at the helm of Seafarer Overseas Growth and Income. Lead manager and chief investment officer Andrew Foster spent one dozen years at Matthews International Capital Management before he co-founded Seafarer Capital Partners in 2011. Foster had an effective term as director of research as well as successful tenures as a comanager and lead manager at the firm. He has a solid four-person investment team here--with significant Latin American and global emerging-markets expertise--which is encouraging given that he focused on investing in Asia while at Matthews. The overall strength of Foster and the investment team is one reason that this diversified emerging-markets fund earns a Morningstar Analyst Rating of Bronze. Meanwhile, Foster follows a sound strategy on this fund that is quite similar to the one that he and other managers have used to produce good risk-adjusted returns at Silver-rated Matthews Asian Growth & Income MACSX. Specifically, he invests in a mix of dividend- paying common and preferred stocks and convertible and other bonds. He considers developed-markets securities

Cnsmr Cyc Hong Kong

T Sun Pharma Advanced Resea Hlth Care India

as well as emerging-markets issues. He regularly allows his security selection to lead to atypical geographic and sector weightings. And he takes an all-cap approach and focuses on a few dozen names. Foster has executed this distinctive process deftly thus far, and this fund has handily outpaced the average diversified emerging-markets offering and the MSCI Emerging Markets Index on both a total-return and risk- adjusted-return basis since opening in February 2012. This fundalsohasa relativelyattractiveexpense ratio that gives it a leg up going forward. There is a significant amount of key-man risk here, and the atypical asset mix could well hold this fund back in certain types of equity rallies in the future. But emerging-markets fans who are comfortable with those risks and have long time horizons have ample grounds to check this fund out.

T Bolsa Mexicana de Valores

Finan Svcs Mexico Technology Turkey

T Arcelik AS

T Aselsan Elektronik Sanayi

Industrl

Turkey

Current Investment Style

Sector Weightings h Cyclical r BasicMat t CnsmrCyc y FinanSvcs u Real Est j Sensitive i CommSrvs o Energy p Industrl a Technlgy k Defensive s CnsmrDef d Hlthcare f Utilities

% of Stocks

Rel Bmark 1

Market Cap % Giant 33.9 Large 23.8 Mid 27.8 Small 14.1 Micro 0.4 Avg $mil: 6,534

Value Blend Growth

Large Mid Small

42.92 0.97 1.13 0.15 13.57 1.40 23.06 0.96 5.16 1.68 38.06 0.92 4.87 0.72 0.00 0.00 11.05 2.12 22.14 0.99 19.01 1.33 4.30 0.52 12.83 4.70 1.88 0.58

Value Measures

Rel Category

Price/Earnings 14.28

1.09 0.97 1.30 1.18 1.21 0.78 7.76 -2.33 0.92 -0.04

Price/Book Price/Sales

1.64 1.71

Price/Cash Flow 6.33 Dividend Yield % 3.88

Growth Measures

% Rel Category

Long-Term Erngs 9.70

Regional Exposure % Stock UK/W. Europe 0 N. America 0 Japan 3 Latn America 23 Asia X Japan 53 Other 21

Book Value

4.51 3.91 -2.36

Sales

Address:

Financial Investors Trust (Seafarer)

Minimum Purchase: Min Auto Inv Plan:

$2500 Add: $100 IRA: $1000

Cash Flow

Denver, CO 80203

$1500 Add: $100

Historical Erngs 0.36

855-732-9220

Sales Fees:

No-load, 2.00%R

Country Exposure 16 South Korea 9 India 9 Brazil

% Stock

Web Address:

www.seafarerfunds.com

Management Fee:

0.75%

Composition - Net Cash

Poland 9 Hong Kong 8

Inception:

02-15-12

Actual Fees:

Mgt:0.75% Dist:—

8.8 Bonds

4.3 1.9

Advisor:

Seafarer Capital Partners, LLC

Expense Projections: 3Yr:$365 5Yr:$633 10Yr:$1396

Stocks 85.0 Other

Subadvisor:

None

Income Distribution:

Annually

Foreign (% of Stock)

100.0

A

ß ® Mutual Funds

©2016Morningstar, Inc.All rights reserved. The information herein is not represented orwarranted to be accurate, complete or timely. Past performance is no guarantee of future results.Access updated reports at www.morningstar.com . To order reprints, email reprints@morningstar.com