Here’s What Makes Karooooo Ltd. (KARO) an Impressive Investment

Polen Capital, an investment management company, released its “Polen Global Emerging Markets Growth Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned -9.27% net of fees compared to a -11.44% return for the MSCI Emerging Markets Index. Global economic concerns impacted the fund’s performance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

In the second quarter 2022 investor letter, Polen Capital discussed stocks like Karooooo Ltd. (NASDAQ:KARO). Headquartered in Singapore, Karooooo Ltd. (NASDAQ:KARO) is a mobility SaaS platform provider. On September 29, 2022, Karooooo Ltd. (NASDAQ:KARO) stock closed at $24.00 per share. One-month return of Karooooo Ltd. (NASDAQ:KARO) was -5.88% and its shares lost 18.70% of their value over the last 52 weeks. Karooooo Ltd. (NASDAQ:KARO) has a market capitalization of $742.826 million.

Here is what Polen Capital specifically said about Karooooo Ltd. (NASDAQ:KARO) in its Q2 2022 investor letter:

Karooooo Ltd. (NASDAQ:KARO) is a leading South African and Southeast Asian provider of highly precise vehicle tracking services that help its customers improve their logistics operations’ efficiency, safety, and security. Despite the price weakness during the quarter and year-to-date, the company continues to deliver solid operating results, with subscribers and revenues for the full year ending February 2021 increasing by 17% and 20%, respectively. During the quarter, we spoke with Zak Calisto, CEO of Karoooo, about the business and its plans for the future. Following our discussion, we remain very impressed with the company’s strategy, quality of management, and ability to continue compounding cash flows for many years.”

Karooooo Ltd. (NASDAQ:KARO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 3 hedge fund portfolios held Karooooo Ltd. (NASDAQ:KARO) at the end of the second quarter which was 4 in the previous quarter. 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.