Polen Capital, an investment management company, released its “Polen Global Emerging Markets Growth” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 12.96% gross compared to a 9.70% return for the MSCI Emerging Markets Index. Stock selection in the communication services and financial sectors contributed to the fund’s performance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Polen Global Emerging Markets Growth highlighted stocks like DLocal Limited (NASDAQ:DLO) in the fourth quarter 2022 investor letter. Headquartered in Montevideo, Uruguay, DLocal Limited (NASDAQ:DLO) is a payment platform. On April 3, 2023, DLocal Limited (NASDAQ:DLO) stock closed at $17.37 per share. One-month return of DLocal Limited (NASDAQ:DLO) was 20.21%, and its shares lost 46.41% of their value over the last 52 weeks. DLocal Limited (NASDAQ:DLO) has a market capitalization of $4.804 billion.
Polen Global Emerging Markets Growth made the following comment about DLocal Limited (NASDAQ:DLO) in its Q4 2022 investor letter:
“DLocal Limited (NASDAQ:DLO) is a payments processing company headquartered in Uruguay that was founded in 2016. It focuses on processing online payments for large, multinational enterprise customers in Emerging Markets, enabling them to seamlessly make and receive payments in more than 35 countries across 700 payment methods in any currency. Solving this issue has allowed the business to proliferate to a Total Processing Volume of USD 6 billion in 2021, just five years after its formation. We expect the company to continue to compound at attractive rates over the coming years. Following recent negative sentiment around the stock, we took advantage of share price weakness to take a position in what we believe can be one of the fastest-growing and value-accretive companies in emerging markets.”
DLocal Limited (NASDAQ:DLO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held DLocal Limited (NASDAQ:DLO) at the end of the fourth quarter which was 26 in the previous quarter.
We discussed DLocal Limited (NASDAQ:DLO) in another article and shared Baron International Growth Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
