Sustainable Growth Advisers
Sustainable Growth Advisers Emerging Markets Growth Strategy
Jun 2026 → Jun 2026
Our archive holds 1 letter from this strategy, behind 3 investment theses and positions in 15 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year — follow all of Sustainable Growth Advisers for every strategy.
Performance
as of Jun 30, 2026 · net of fees · USD
- YTD−11.5%
- 1Y−7.8%
- 3Y · /yr−0.2%
- 5Y · /yr−5.3%
- 10Y · /yr+4.7%
- Inception · /yr+3.5%
Index: MSCI EM Net TR Index
| YTD | 1Y | 3Yper year | 5Yper year | 10Yper year | Since inceptionper year | |
|---|---|---|---|---|---|---|
| Sustainable Growth Advisers Emerging Markets Growth Strategy | −11.5% | −7.8% | −0.2% | −5.3% | +4.7% | +3.5% |
| MSCI EM Net TR Index | — | — | — | — | — | — |
Calendar years
- 2025+22.8%index +33.6%
- 2024−7.8%index +7.5%
- 2023+6.3%index +9.8%
- 2022−13.1%index −20.1%
- 2021−15.1%index −2.5%
- 2020+30.1%index +18.3%
- 2019+29.9%index +18.4%
- 2018−11.8%index −14.6%
- 2017+35.2%index +37.3%
- 2016+1.2%index +11.2%
Disclaimer
These figures are copied from the manager’s latest letter, as of Jun 30, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.
Read full disclosures →What it bought and sold
We continued to build our position in Apollo Hospitals and added to positions in Sanlam, TSMC, and Yum China on weakness.
We continued to build our position in Apollo Hospitals and added to positions in Sanlam, TSMC, and Yum China on weakness.
New positions in Nu Bank and Disco were initiated; positions in Tencent Music, MakeMyTrip, Bank of Central Asia, and Tata Consultancy Services were sold due to forced attrition.
Given sovereign risk concerns and a more compelling opportunity available in Disco, the leading provider of cutting, grinding, and thinning equipment used in semiconductor manufacturing, the position was exited.
Tencent Music Entertainment (TME), a leading Chinese music streaming company, was liquidated during the quarter.
We continued to build our position in Apollo Hospitals and added to positions in Sanlam, TSMC, and Yum China on weakness.
New positions in Nu Bank and Disco were initiated; positions in Tencent Music, MakeMyTrip, Bank of Central Asia, and Tata Consultancy Services were sold due to forced attrition.
The position in MercadoLibre was trimmed on concerns over heightened competition.
During the quarter, we liquidated our position in Tata Consultancy Services (TCS), a leading global IT services provider.
We liquidated our position in MakeMyTrip during the quarter.
Also held
Its investment theses
- Nu HoldingsJun 2026Nu Holdings is a digital banking platform with structurally lower costs, strong customer engagement, and a long runway for market share gains and growth.
- DiscoJun 2026Disco is a dominant semiconductor equipment provider with recurring consumables revenue, strong pricing power, and exposure to AI-driven packaging complexity.
- Taiwan Semiconductor Manufacturing CompanyJun 2026TSMC is the leading foundry with technology leadership, scale, and secular demand from AI and advanced computing.