Baron Funds, an asset management company, released its “Baron International Growth Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund underperformed its benchmark index declining 16.18% in the second quarter compared to a 13.73% decline for the MSCI ACWI ex USA Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Baron Funds discussed stocks like DLocal Limited (NASDAQ:DLO) in the second quarter investor letter. Headquartered in Montevideo, Uruguay, DLocal Limited (NASDAQ:DLO) operates as a financial technology company. On September 8, 2022, DLocal Limited (NASDAQ:DLO) stock closed at $25.28 per share. One-month return of DLocal Limited (NASDAQ:DLO) was -15.65% and its shares lost 59.69% of their value over the last 52 weeks. DLocal Limited (NASDAQ:DLO) has a market capitalization of $7.458 billion.
Here is what Baron Funds specifically said about DLocal Limited (NASDAQ:DLO) in its Q2 2022 investor letter:
“During the quarter, we re-initiated a position in DLocal Limited (NASDAQ:DLO), as part of our fintech disruption theme. DLocal is a Uruguay-based financial technology company that facilitates cross-border and local-to-local e-commerce payments in emerging markets for global enterprise merchants. The company’s proprietary technology platform enables global merchants to connect seamlessly with millions of consumers across various geographies through a single API.
DLocal addresses several pain points for global merchants looking to expand sales in emerging markets. It facilitates adherence to complex regulatory and tax requirements, enables acceptance of the relevant local payment methods, increases authorization rates versus existing alternatives, and helps reduce fraud. In our view, these factors have allowed DLocal to create a strong competitive moat, which has led to high growth in merchant partners and an increase in wallet share for existing clients.
The company is also benefiting from secular trends including the globalization of commerce, growing penetration of alternative digital payment methods, and increasing purchasing power of middle-class consumers in the regions it serves. In addition, DLocal’s processed volumes are tied to the sales growth of the largest global enterprise merchants around the world. With strong tailwinds for revenue growth and improving operating leverage, we believe DLocal has the potential to deliver exciting earnings growth for many years to come.”
DLocal Limited (NASDAQ:DLO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held DLocal Limited (NASDAQ:DLO) at the end of the second quarter which was 19 in the previous quarter.
We discussed DLocal Limited (NASDAQ:DLO) in another article and shared the list of companies on investors’ radar after releasing their quarterly results. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
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