Artisan Partners, an investment management company, released its “Artisan Developing World Fund” second quarter 2024 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund (Investor Class) returned 4.72% compared to 5.00% for the MSCI Emerging Markets Index. The Artisan Developing World Fund has returned 127.46% cumulatively, since June 30, 2015, compared to 38.81% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Artisan Developing World Fund highlighted stocks like HDFC Bank Limited (NYSE:HDB), in the second quarter 2024 investor letter. HDFC Bank Limited (NYSE:HDB) is a banking and financial services provider. HDFC Bank Limited’s (NYSE:HDB) one-month return was 4.86%, and its shares lost 7.87% of their value over the last 52 weeks. On July 8, 2024, HDFC Bank Limited (NYSE:HDB) stock closed at $61.92 per share with a market capitalization of $157.032 billion.
Artisan Developing World Fund stated the following regarding HDFC Bank Limited (NYSE:HDB) in its Q2 2024 investor letter:
“To reduce the range of investment outcomes further, we may seek investments not only with low revenue variability but with low incremental margin structures. For example, HDFC Bank Limited (NYSE:HDB) in India will have to fund every loan it makes with deposits, and will have to invest incremental profitability in acquiring and servicing customers.”
A business owner tallying their profits in the back office of a local banking branch.
HDFC Bank Limited (NYSE:HDB) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 44 hedge fund portfolios held HDFC Bank Limited (NYSE:HDB) at the end of the first quarter which was 41 in the previous quarter. HDFC Bank Limited’s (NYSE:HDB) net revenues for the quarter were at INR 396 billion, increased by 25.8% over prior year. While we acknowledge the potential of HDFC Bank Limited (NYSE:HDB) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
We discussed HDFC Bank Limited (NYSE:HDB) in another article and shared Ave Maria World Equity Fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
