The India Fund Q1 2025 Commentary

2025-06-03 09:00:00 ET

Summary

• After a very strong 2024, it was a challenging start to the new year with the Fund contracting by 6.58% in US dollar terms, underperforming the benchmark by 363 basis points in NAV terms.
• Some of the key detractors this quarter had been among the best-performing stocks in 2024, succumbing to profit taking amid a sell-off in small- and mid-cap stocks in the first two months of the year.
• Stocks in the financials and industrials sectors, in particular, were the biggest drivers of underperformance.

Fund performance

After a very strong 2024, it was a challenging start to the new year with the Fund contracting by 6.58% in US dollar terms, underperforming the benchmark by 363 basis points (bps) in NAV terms. Some of the key detractors this quarter had been among the best-performing stocks in 2024, succumbing to profit taking amid a sell-off in small- and mid-cap stocks in the first two months of the year. Stocks in the financials and industrials sectors, in particular, were the biggest drivers of underperformance.[1]...

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