abrdn Emerging Markets Fund Q4 2024 Commentary

2025-03-28 11:25:00 ET

Summary

• The abrdn Emerging Markets Fund fell by 8.13% over the quarter, underperforming the benchmark by 32 basis points, mainly due to stock selection in China and Hong Kong.
• Taiwan and India contributed positively, with Accton Technology and Delta Electronics leading gains due to AI trends and data center upgrades.
• China and Hong Kong holdings were mixed, with investor sentiment dampened by underwhelming policy measures and concerns over US tariffs on Chinese exports.
• The outlook for emerging markets remains constructive, supported by fiscal and monetary discipline, healthy debt levels, and structural tailwinds in global investment.

Fund performance

The Fund fell by 8.13% over the quarter, slightly lagging the benchmark by 32 basis points. Stock selection in China and the off-benchmark position in Hong Kong were key drivers of the underperformance, while selection effects in Taiwan and India were positive. ¹ ...

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