GH - Aristotle Capital Core Equity Q1 2024 Commentary

2024-05-15 09:00:00 ET

Summary

• Aristotle Capital Management is an independent/employee-owned investment management organization that specializes in equity and fixed income portfolio management for institutional and advisory clients worldwide.
• U.S. economic growth remained positive, as real GDP increased at an annual rate of 3.4% in the fourth quarter, though less than the third quarter’s 4.9% reading.
• For the first quarter of 2024, Aristotle Atlantic’s Core Equity Composite posted a total return of 12.02% gross of fees, outperforming the S&P 500 Index, which recorded a total return of 10.56%.
• During the first quarter, the portfolio’s outperformance relative to the S&P 500 Index was due to security selection.

Markets Review

The U.S. equity market continued to rally, as the S&P 500 Index rose 10.56% during the period. Concurrently, the Bloomberg U.S. Aggregate Bond Index fell, returning -0.78% for the quarter. In terms of style, the Russell 1000 Value Index underperformed its growth counterpart by 2.42%....

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