Polen Capital, an investment management company, released its “Polen Global Emerging Markets Growth” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -9.94% net of fees compared to a -11.57% return for the MSCI Emerging Markets Index. Global economic uncertainty dragged 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 Capital discussed stocks like Karooooo Ltd. (NASDAQ:KARO) in its third-quarter investor letter. Headquartered in Singapore, Karooooo Ltd. (NASDAQ:KARO) is a mobility SaaS platform provider. On November 17, 2022, Karooooo Ltd. (NASDAQ:KARO) stock closed at $23.55 per share. One-month return of Karooooo Ltd. (NASDAQ:KARO) was 2.56%, and its shares lost 30.48% of their value over the last 52 weeks. Karooooo Ltd. (NASDAQ:KARO) has a market capitalization of $728.898 million.
Polen Capital made the following comment about Karooooo Ltd. (NASDAQ:KARO) in its third-quarter 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. The company reported record quarterly revenues and earnings, despite a challenging backdrop. The company saw a notable improvement in its southeast Asia business as covid-19 disruptions eased. After meeting the CEO this quarter, we remain very impressed with the company’s strategy, quality of management, and ability to continue compounding cash flows for many years.”
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Karooooo Ltd. (NASDAQ:KARO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 4 hedge fund portfolios held Karooooo Ltd. (NASDAQ:KARO) at the end of the third quarter which was 3 in the previous quarter.
We discussed Karooooo Ltd. (NASDAQ:KARO) in another article and shared SaltLight Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q3 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.