Published on 6 Mar 2024 on Insider Monkey via Yahoo Finance
HDFC Bank Limited (HDB) Benefitted From the Strong Growth of the Indian Economy
Polen Capital, an investment management company, released its “Polen International Growth Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy rose 15.23% (net of fees) in the fourth quarter compared to a 9.75% return for the MSCI ACWI (ex-USA) index. Investor sentiment hit its lowest point in October, paving the way for a strong rally in the final months of the year. Quarterly portfolio performance was driven by share price appreciation in the information technology, healthcare, and consumer discretionary sectors. For the full year, the strategy appreciated 27.73% (net of fees) compared to a 15.62% return for the index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Polen International Growth Strategy featured stocks like HDFC Bank Limited (NYSE:HDB) in its Q4 2023 investor letter. Headquartered in Mumbai, India, HDFC Bank Limited (NYSE:HDB) offers banking and financial services. On March 5, 2024, HDFC Bank Limited (NYSE:HDB) stock closed at $54.93 per share. One-month return of HDFC Bank Limited (NYSE:HDB) was -1.26%, and its shares lost 19.22% of their value over the last 52 weeks. HDFC Bank Limited (NYSE:HDB) has a market capitalization of $139.09 billion.
Polen International Growth Strategy stated the following regarding HDFC Bank Limited (NYSE:HDB) in its fourth quarter 2023 investor letter: