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ARGNF - ClearBridge International Growth Fund Q1 2025 Commentary
Argen X SE
2025-04-30 22:55:00 ET
Summary
The MSCI EAFE Growth Index was up 2.13% while the MSCI EAFE Value Index, home to many of the companies expected to lead a resurgence in manufacturing activity, surged 11.56%.
Stock selection in health care and industrials held back performance with particular weakness among biopharmaceutical holdings Novo Nordisk and Argenx.
Inflation in the Eurozone has remained below 3% for 18 months, giving the European Central Bank greater latitude than the U.S. Federal Reserve in continuing to cut interest rates.