VRTX - Aristotle Capital Core Equity Q4 2023 Commentary

2024-02-25 10:00:00 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.
• For the fourth quarter of 2023, Aristotle Atlantic’s Core Equity Composite posted a total return of 12.95% gross of fees (12.84% net of fees), outperforming the S&P 500 Index, which recorded a total return of 11.69%.
• Expectations for 2024 include rate reductions by the Fed and a high single-digit increase in S&P 500 earnings. Along with this positive view, we also expect a broadening of performance relative to the AI-focused returns in 2023.

Markets Review

The U.S. equity market rebounded, as the S&P 500 Index ( SP500 , SPX ) rose 11.69% during the period. Concurrently, the Bloomberg U.S. Aggregate Bond Index rallied, increasing 6.82% for the quarter. In terms of style, the Russell 1000 Value Index underperformed its growth counterpart by 4.66%....

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