Advertisement
Singapore markets close in 36 minutes

  • Straits Times Index

    3,175.35
    -12.31 (-0.39%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • FTSE 100

    7,829.61
    -47.44 (-0.60%)
     

  • Bitcoin USD

    64,900.23
    +3,981.74 (+6.54%)
     

  • CMC Crypto 200

    1,337.69
    +25.07 (+1.91%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • Dow

    37,775.38
    +22.07 (+0.06%)
     

  • Nasdaq

    15,601.50
    -81.87 (-0.52%)
     

  • Gold

    2,397.60
    -0.40 (-0.02%)
     

  • Crude Oil

    82.92
    +0.19 (+0.23%)
     

  • 10-Yr Bond

    4.6470
    0.0000 (0.00%)
     

  • FTSE Bursa Malaysia

    1,550.24
    +5.48 (+0.35%)
     

  • Jakarta Composite Index

    7,092.92
    -73.89 (-1.03%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

Baron FinTech Fund Exited DLocal Limited (DLO) on Uncertainty

Soumya Eswaran
·2-min read

Baron Funds, an investment management company, released its “Baron FinTech Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund rose 4.83% (Institutional Shares) compared to an 8.24% gain for the FactSet Global FinTech Index and a 7.50% gain for the S&P 500 benchmark index. Against a confusing market backdrop, the Fund appreciated during the first quarter yet trailed the Benchmark and the broader market. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Baron FinTech Fund highlighted stocks like DLocal Limited (NASDAQ:DLO) in the first quarter 2023 investor letter. Headquartered in Montevideo, Uruguay, DLocal Limited (NASDAQ:DLO) is a payment processing platform. On June 5, 2023, DLocal Limited (NASDAQ:DLO) stock closed at $9.82 per share. One-month return of DLocal Limited (NASDAQ:DLO) was -31.95%, and its shares lost 66.03% of their value over the last 52 weeks. DLocal Limited (NASDAQ:DLO) has a market capitalization of $2.885 billion.

Baron FinTech Fund made the following comment about DLocal Limited (NASDAQ:DLO) in its Q1 2023 investor letter:

"We also exited DLocal Limited (NASDAQ:DLO) and Nuvei Corporation due to slowing earnings growth and greater uncertainty about the sustainability of both companies’ competitive advantages in an increasingly crowded payments market."

U.K. Dividend Aristocrats List: 2023 Rankings by Yield
U.K. Dividend Aristocrats List: 2023 Rankings by Yield

Photo by Clay Banks on Unsplash

ADVERTISEMENT

DLocal Limited (NASDAQ:DLO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 16 hedge fund portfolios held DLocal Limited (NASDAQ:DLO) at the end of first quarter 2023 which was 22 in the previous quarter.

We discussed DLocal Limited (NASDAQ:DLO) in another article and shared Polen Global Emerging Markets Growth's views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

 

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.