Published on 27 May 2024 on Insider Monkey via Yahoo Finance
Is HDFC Bank Limited (HDB) Facing Temporary Headwinds?
Baron Funds, an investment management company, released its “Baron Emerging Markets Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. In the first quarter, the fund returned 2.50% (Institutional Shares) compared to a 2.37% return for the MSCI EM Index (primary benchmark Index) and a 2.98% gain for the MSCI EM IMI Growth Index (the Proxy Benchmark). The fund performed in line with the primary benchmark while modestly underperformed the proxy benchmark. The recent strength in equities is due to the Fed's indication that it will proceed with multiple rate cuts this year. To know the best picks for the fund in 2024, please check the top five holdings of the fund.
Baron Emerging Markets Fund highlighted stocks like HDFC Bank Limited (NYSE:HDB), in the first quarter 2024 investor letter. HDFC Bank Limited (NYSE:HDB) is a banking and financial services provider with a market capitalization of $146.993 billion. The one-month return of HDFC Bank Limited (NYSE:HDB) was -0.58%, and its shares lost 10.51% of their value over the last 52 weeks. On May 24, 2024, HDFC Bank Limited (NYSE:HDB) stock closed at $58.00 per share.