If you’re looking for investment ideas, check out HDFC Bank (HDB). It is a major holding of top-performing stock mutual funds.
The $207 million Wasatch Emerging India Fund (WAINX) was the top performing stock mutual fund. It jumped 37% year to date through July 10. It is actively managed. Among its best performing stocks were the ADRs of HDFC Bank (HDB), whose price rose 46%.
HDFC Bank On The Move
HDFC Bank has more than 4,500 branches in nearly 2,600 Indian cities.
The bank is ranked No. 1 in IBD’s Banks-Foreign industry group. Earnings per share rose 12% and 23% the past two quarters. It has racked up four straight years of EPS growth. Its pretax margin was 27.8% last year, the highest in at least nine years.
The top performing stock mutual funds, among those with more than $100 million in assets year to date through July 10, were those with portfolios in India, China, #Asia and technology.