The curated database of hedge funds that publish investor letters. Research by geography, strategy, and schools of thought.
| # | Fund | Strategy | Style | Geography | AUM | Latest Letter |
|---|---|---|---|---|---|---|
As of Jul 29, 2026
The Allspring Emerging Markets Equity Advantage Fund returned 22.82% in Q2 2026, underperforming the MSCI Emerging Markets Index which gained 24.05%. The quarter was characterized by strong performance in Taiwan (up 48.86%) and Korea (up 87.58%), driven by AI-related semiconductor opportunities, while China/Hong Kong declined 6.63% on soft domestic demand. Key contributors included MediaTek and ASE Technology, both benefiting from ramping AI ASIC and advanced packaging businesses with expanding margins. SK Hynix detracted as the fund maintained an underweight position despite strong memory demand. The managers remain constructive on emerging markets for the second half, citing improved political visibility, policy flexibility, and an economic growth premium versus developed markets. Leading companies have driven 40% earnings upgrades year-to-date. The fund's strategy focuses on quality dividend-paying companies with robust shareholder yields, providing a resilient framework to capture long-term opportunities in AI-driven technology growth and rising shareholder returns while navigating near-term volatility from geopolitical risks and market concentration.
The fund seeks long-term capital appreciation and current income by investing in dividend-paying emerging market equity securities with a focus on quality companies offering robust shareholder yields, positioned to benefit from AI-driven technology growth, particularly in Taiwan's semiconductor supply chain, while maintaining a resilient framework to navigate volatility through improved emerging market fundamentals and governance.
The managers remain constructive on emerging markets for the second half of 2026, citing improved political visibility, policy flexibility, and an economic growth premium versus developed markets. They believe emerging markets are better positioned to withstand shocks given solid macroeconomic fundamentals, stronger fiscal health, and meaningfully improved governance. Key competitive advantages include strength in advanced manufacturing and exports, particularly in the tech AI supply chain, as well as rich natural resources. The fund expects continued high earnings growth with upward revisions in the IT sector and rising buybacks and dividends to drive returns. The strategy will continue focusing on quality companies with robust shareholder yields as a resilient framework for long-term emerging markets investing.
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