DESP - Artisan International Explorer Fund Q1 2024 Commentary

2024-04-28 12:35:00 ET

Summary

• Artisan Partners is an independent investment management firm focused on providing high value-added, active investment strategies to sophisticated clients globally.
• We outperformed our benchmark by about 225bps this quarter.
• Our top two contributors in Q1 were Despegar.com and Hensoldt.
• Our bottom two detractors in Q1 were Medmix and IQE.

Is There Wealth Creation Outside of the US?

It appears the Magnificent Seven has supplanted FAANG stocks as the poster child for investing in US equities. Investors can be forgiven for increasingly ignoring international markets given the continuing outperformance of the US market. Just when the US market seemed to be running out of steam due to valuation concerns at multiple junctures in recent years, it again surged ahead of the international market....

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