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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
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"The abrdn Emerging Markets Fund outperformed its benchmark by 350 bps in Q3 2025, returning 14.83% due to strong AI-related stock selection in China and Taiwan, and remains constructive on EM going forward."
For the quarter ended September 30, 2025, the abrdn Emerging Markets Fund returned 14.83%, outperforming its benchmark by 350 basis points. Outperformance was heavily driven by strong stock selection in Chinese and Taiwanese tech holdings (such as TSMC, Alibaba, and capex-related plays) benefiting from the broadening AI theme, alongside Grupo Mexico. Conversely, Indian and South African holdings detracted due to US tariff pressures, domestic slowdown concerns, and specific corporate weaknesses. During the quarter, the fund added seven new holdings, including Giant Biogene, NAURA Technology, and Xiaomi, while exiting six positions including Femsa and Meituan. The manager maintains a constructive outlook for emerging markets, supported by rate cuts and key capex trends, despite risks of a potential AI bubble and trade tensions.
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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 abrdn Emerging Markets Fund outperformed its benchmark by 350 bps in Q3 2025, returning 14.83% due to strong AI-related stock selection in China and Taiwan, and remains constru...
Growth Outlook
Market outlook remains above average conviction: The abrdn Emerging Markets Fund outperformed its benchmark by 350 bps in Q3 2025, returning 14.83% due to strong AI-related stock selection in China and Taiwan, and remains constru...
Risk Appetite
Risk appetite posture is above average conviction: The abrdn Emerging Markets Fund outperformed its benchmark by 350 bps in Q3 2025, returning 14.83% due to strong AI-related stock selection in China and Taiwan, and remains constru...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. The abrdn Emerging Markets Fund outperformed its benchmark by 350 bps in Q3 2025, returning 14.83% due to strong AI-related stock selection in China and Taiwan, and remains constru...
Forward Guidance
Forward guidance signal: The abrdn Emerging Markets Fund outperformed its benchmark by 350 bps in Q3 2025, returning 14.83% due to strong AI-related stock selection in China and Taiwan, and remains constru...
Language Signal
Tone analysis indicates above average conviction language: The abrdn Emerging Markets Fund outperformed its benchmark by 350 bps in Q3 2025, returning 14.83% due to strong AI-related stock selection in China and Taiwan, and remains constru...
Perceived Risk
Perceived risk level is evaluated as above average conviction. The abrdn Emerging Markets Fund outperformed its benchmark by 350 bps in Q3 2025, returning 14.83% due to strong AI-related stock selection in China and Taiwan, and remains constru...
Opportunity Density
Opportunity density index indicates above average conviction actionable entry points. The abrdn Emerging Markets Fund outperformed its benchmark by 350 bps in Q3 2025, returning 14.83% due to strong AI-related stock selection in China and Taiwan, and remains constru...
Time Horizon
Investment time horizon reflects a high conviction orientation. The abrdn Emerging Markets Fund outperformed its benchmark by 350 bps in Q3 2025, returning 14.83% due to strong AI-related stock selection in China and Taiwan, and remains constru...
