Published on 19 May 2024 on Insider Monkey · via Yahoo Finance
HDFC Bank (HDB) Fell on Weak Margin and Slow Deposit Growth
Polen Capital, an investment management company, released its “Polen Emerging Markets Growth Strategy” first quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund returned 1.48% gross and 1.25% net of fees in the quarter compared to 2.37% for the MSCI Emerging Markets Index. Emerging market securities rose in the quarter, carrying over the upward trend from the fourth quarter of 2023. Despite the strong returns of the asset class over the previous six months, emerging equities continued to underperform developed markets. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Polen Emerging Markets Growth Strategy 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. HDFC Bank Limited's (NYSE:HDB) one-month return was -1.00%, and its shares lost 14.47% of their value over the last 52 weeks. On June 4, 2024, HDFC Bank Limited (NYSE:HDB) stock closed at $55.51 per share with a market capitalization of $140.702 billion.