HEES - abrdn U.S. Small Cap Equity Fund Q1 2025 Commentary
2025-06-03 08:00:00 ET
Summary
- The Fund fell (gross of fees) but outperformed the Russell 2000 Index.
- At the stock level, Corcept Therapeutics’ shares outperformed after the company’s key drug achieved positive study results for the treatment of a new condition, significantly increasing its addressable market.
- US small caps ended the quarter notably down and generated a lower return than the broader US equities asset class, which also fell.
- After the quarter end, the Trump administration announced a new trade policy introducing 10% tariffs on all goods imported to the US, with additional tariffs that were calculated by country to capture the size of the trade deficit with the US.
Fund performance
The Fund fell (gross of fees) but outperformed the Russell 2000 Index.
Total Returns (as of 03/31/25)
Class A w/o sales charges |
Class A with sales charges |
Institutional Class |
Russell 2000 Index |
10 Years (p.a.) |
8.77 |
8.13 |
9.14 |
6.30 |
5 Years (p.a.) |
14.70 |
13.35 |
15.14 |
13.27 |
3 Years (p.a.) |
2.15 |
0.15 |
2.56 |
0.52 |
1 Year |
6.44 |
0.32 |
6.86 |
-4.01 |
Year to Date |
-3.73 |
-9.27 |
-3.66 |
-9.48 |
3 Months |
-3.73 |
-9.27 |
-3.66 |
-9.48 |
1 month |
-4.53 |
-10.02 |
-4.49 |
-6.81 |