Brown Advisors, an investment management company, released its “Brown Advisors Global Leaders Strategy” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. In the letter the firm discusses its performance, four new investments made in 2024, lessons from one exit, and insights from its annual offsite. The strategy targets double-digit annualized returns over five years, aiming for 10%+ to double investors’ money every seven years. In 2024, the UCITS C-share USD returned 14.7% net of fees, while the MSCI ACWI benchmark returned 17.5%. Since inception, the Global Leaders UCITS C-share USD has delivered an annualized 11.4% net after fees, surpassing firm’s target, compared to the MSCI ACWI’s 8.9%. In addition, please check the fund’s top five holdings to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Brown Advisors Global Leaders Strategy emphasized stocks such as HDFC Bank Limited (NYSE:HDB). Incorporated in 1994, HDFC Bank Limited (NYSE:HDB) offers banking and financial services to individuals and businesses. The one-month return of HDFC Bank Limited (NYSE:HDB) was 2.92%, and its shares gained 13.11% of their value over the last 52 weeks. On February 28, 2025, HDFC Bank Limited (NYSE:HDB) stock closed at $61.62 per share with a market capitalization of $157.145 billion.
Brown Advisors Global Leaders Strategy stated the following regarding HDFC Bank Limited (NYSE:HDB) in its Q4 2024 investor letter:
“HDFC Bank Limited (NYSE:HDB) has shown robust fundamental business drivers, but the shares have relatively underperformed since its merger with former parent HDFC Ltd. This merger enhances HDFC Bank’s long-run business opportunities, particularly mortgages, in the Indian market but comes with short-term sub-optimal funding which we expect to unwind over the next couple of years. With an enhanced competitive position, we feel it unlikely this remains an issue over time. HDFC Bank has also shown good downside protection historically when the credit cycle turns, and the bank’s defensive lending practices allow it to outperform peers. Impressively, management has expanded lending at the right time historically too. We believe these characteristics remain intact.”
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 30 Most Popular Stocks Among Hedge Funds. As per our database, 50 hedge fund portfolios held HDFC Bank Limited (NYSE:HDB) at the end of the fourth quarter compared to 41 in the third quarter. 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.
In another article, we discussed HDFC Bank Limited (NYSE:HDB) and shared the list of best international dividend stocks to buy. In addition, please check out our hedge fund investor letters Q4 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.