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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
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"The fund achieved stellar outperformance across 2025, fueled by high-conviction exposure to AI infrastructure and hardware components in Asia."
The American Century Emerging Markets Fund outperformed major benchmarks in Q4 and throughout the full year 2025. This performance represents the first calendar year since 2017 that EM stocks outgained U.S. and developed market equities. Drivers of performance were heavily concentrated in the Information Technology sector, specifically through exposure to AI-related hardware (SK Hynix, Zhongji Innolight) and semiconductors in South Korea and Taiwan. Financials weighed on relative returns. Notable portfolio changes included entering Radico Khaitan and Rasan Information Technology, while exiting Sun Pharmaceutical Industries over tariff and drug pricing concerns.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
High-conviction positioning: The fund achieved stellar outperformance across 2025, fueled by high-conviction exposure to AI infrastructure and hardware components in Asia....
Growth Outlook
Market outlook remains high conviction: The fund achieved stellar outperformance across 2025, fueled by high-conviction exposure to AI infrastructure and hardware components in Asia....
Risk Appetite
Risk appetite posture is above average conviction: The fund achieved stellar outperformance across 2025, fueled by high-conviction exposure to AI infrastructure and hardware components in Asia....
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. The fund achieved stellar outperformance across 2025, fueled by high-conviction exposure to AI infrastructure and hardware components in Asia....
Forward Guidance
Forward guidance signal: The fund achieved stellar outperformance across 2025, fueled by high-conviction exposure to AI infrastructure and hardware components in Asia....
Language Signal
Tone analysis indicates high conviction language: The fund achieved stellar outperformance across 2025, fueled by high-conviction exposure to AI infrastructure and hardware components in Asia....
Perceived Risk
Perceived risk level is evaluated as moderate conviction. The fund achieved stellar outperformance across 2025, fueled by high-conviction exposure to AI infrastructure and hardware components in Asia....
Opportunity Density
Opportunity density index indicates high conviction actionable entry points. The fund achieved stellar outperformance across 2025, fueled by high-conviction exposure to AI infrastructure and hardware components in Asia....
Time Horizon
Investment time horizon reflects a above average conviction orientation. The fund achieved stellar outperformance across 2025, fueled by high-conviction exposure to AI infrastructure and hardware components in Asia....
