HYBE - Artisan Sustainable Emerging Markets Fund Q2 2024 Commentary
2024-07-23 11:30:00 ET
Summary
- Emerging markets equities advanced in Q2, building on a strong start to the new year. Economic growth was broadly positive for EM countries as attempts to fight rising inflation showed initial signs of success.
- Top relative contributors for the quarter included Cosmax, MediaTek and Havells India.
- During the quarter, we exited our positions in Noah Holdings and HYBE.
Portfolio Discussion
Emerging markets ((EM)) equities advanced in Q2, building on a strong start to the new year. Economic growth was broadly positive for EM countries as attempts to fight rising inflation showed initial signs of success. Despite a more relaxed interest rate environment, the anticipation of critical EM general elections contributed to market volatility. Furthermore, unresolved geopolitical conflict in Ukraine and the Middle East continued to impact millions of lives and affect global value chains. Taiwan and China were the main contributors to the MSCI Emerging Markets Index, while Brazil and Mexico were the primary detractors in Q2. Our portfolio underperformed the benchmark for the quarter....
Artisan Sustainable Emerging Markets Fund Q2 2024 Commentary