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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
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"The fund delivered robust performance in Q2 2025 as emerging markets equities rallied on eased tariff tensions and artificial intelligence tailwinds, especially in South Korea and Taiwan."
During the second quarter of 2025, the American Century Emerging Markets Fund experienced sharp gains, outperforming its developed markets counterparts. The initial quarterly fallout from widespread tariffs subsided as the Trump administration paused most tariffs and finalized a trade deal between the U.S. and China in late June. Performance was heavily driven by South Korea and Taiwan, which benefited from artificial intelligence (AI) enthusiasm, easing recessionary fears, and strengthening local currencies. Industrials acted as a major tailwind, led by strong stock selection in companies like Hyundai Rotem and Embraer. Financials also proved to be a source of strength, bolstered by positions such as KB Financial Group, Credicorp, and Abu Dhabi Islamic Bank. Conversely, the consumer staples sector detracted from relative performance, pressured by positions in BIM Birlesik Magazalar, Kweichow Moutai, and Fomento Economico Mexicano. Key additions during the quarter included Mahindra & Mahindra and Elite Material Co., while positions in Meituan and Gruma were reduced or managed cautiously. The fund maintains a constructive outlook on emerging markets, citing strong economic data, robust growth differentials with developed markets, attractive valuations, and potential tailwinds from a weakening U.S. dollar and low global investor positioning.
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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 delivered robust performance in Q2 2025 as emerging markets equities rallied on eased tariff tensions and artificial intelligence tailwinds, especially in South Korea and ...
Growth Outlook
Market outlook remains high conviction: The fund delivered robust performance in Q2 2025 as emerging markets equities rallied on eased tariff tensions and artificial intelligence tailwinds, especially in South Korea and ...
Risk Appetite
Risk appetite posture is high conviction: The fund delivered robust performance in Q2 2025 as emerging markets equities rallied on eased tariff tensions and artificial intelligence tailwinds, especially in South Korea and ...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. The fund delivered robust performance in Q2 2025 as emerging markets equities rallied on eased tariff tensions and artificial intelligence tailwinds, especially in South Korea and ...
Forward Guidance
Forward guidance signal: The fund delivered robust performance in Q2 2025 as emerging markets equities rallied on eased tariff tensions and artificial intelligence tailwinds, especially in South Korea and ...
Language Signal
Tone analysis indicates high conviction language: The fund delivered robust performance in Q2 2025 as emerging markets equities rallied on eased tariff tensions and artificial intelligence tailwinds, especially in South Korea and ...
Perceived Risk
Perceived risk level is evaluated as moderate conviction. The fund delivered robust performance in Q2 2025 as emerging markets equities rallied on eased tariff tensions and artificial intelligence tailwinds, especially in South Korea and ...
Opportunity Density
Opportunity density index indicates high conviction actionable entry points. The fund delivered robust performance in Q2 2025 as emerging markets equities rallied on eased tariff tensions and artificial intelligence tailwinds, especially in South Korea and ...
Time Horizon
Investment time horizon reflects a high conviction orientation. The fund delivered robust performance in Q2 2025 as emerging markets equities rallied on eased tariff tensions and artificial intelligence tailwinds, especially in South Korea and ...
