Artisan Partners, an investment management company, released its “Artisan Developing World Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund (Investor Class) returned -7.31% compared to -2.93% for the MSCI Emerging Markets Index. The fund has returned 74.89% cumulatively since June 30, 2015, compared to a 19.73% return for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Developing World Fund highlighted stocks like MakeMyTrip Limited (NASDAQ:MMYT) in the third quarter 2023 investor letter. Headquartered in Gurugram, India, MakeMyTrip Limited (NASDAQ:MMYT) is an online travel company. On October 11, 2023, MakeMyTrip Limited (NASDAQ:MMYT) stock closed at $42.44 per share. One-month return of MakeMyTrip Limited (NASDAQ:MMYT) was 9.66%, and its shares gained 41.75% of their value over the last 52 weeks. MakeMyTrip Limited (NASDAQ:MMYT) has a market capitalization of $4.504 billion.
Artisan Developing World Fund made the following comment about MakeMyTrip Limited (NASDAQ:MMYT) in its Q3 2023 investor letter:
“Top contributors to performance for the quarter included Indian online travel company MakeMyTrip Limited (NASDAQ:MMYT). MakeMyTrip benefited from strong domestic travel demand in India against a relatively fixed cost structure, and from an improved competitive backdrop that has allowed it to accelerate profitability.”
Image by Edeltravel_ from Pixabay
MakeMyTrip Limited (NASDAQ:MMYT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held MakeMyTrip Limited (NASDAQ:MMYT) at the end of the second quarter, which was 12 in the previous quarter.
We discussed MakeMyTrip Limited (NASDAQ:MMYT) in another article and shared the list of best African stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2023 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.