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TSM - abrdn Emerging Markets Equity Income Fund Q4 2024 Commentary
Taiwan Semiconductor Manufacturing Company Ltd.
2025-03-28 11:15:00 ET
Summary
The abrdn Emerging Markets Equity Income Fund fell by 7.31% over the quarter but outperformed the benchmark by 57 basis points, driven by strong performance in Taiwan and Vietnam.
Key contributors included Accton Technology, Delta Electronics, and Taiwan Semiconductor, while Chinese equities faced mixed results amid muted investor sentiment.
Emerging market equities lagged developed markets due to higher tariffs, a strong US dollar, and political instability in South Korea and Brazil.
The outlook for emerging markets remains constructive, with structural tailwinds, fiscal and monetary discipline, and attractive valuations supporting a potential recovery.