META - Diamond Hill Small Cap Fund Q1 2024 Market Commentary

2024-05-15 07:30:00 ET

Summary

• Diamond Hill invests on behalf of clients through a shared commitment to its valuation-driven investment principles, long-term perspective, capacity discipline and client alignment.
• In a volatile first quarter of 2024, markets moved choppily higher, delivering positive returns across most regions and countries.
• From a sector perspective, information technology (+13%), energy (+12%), industrials (+9%) and consumer discretionary (+6%) led the way.
• As has been the case in recent quarters, markets-related headlines in Q1 seemed to focus narrowly on global monetary policy and its future direction.

Market Commentary

In a volatile first quarter of 2024, markets moved choppily higher, delivering positive returns across most regions and countries. The Russell 3000 rose +10%, led by large cap stocks as measured by the Russell 1000 Index, up just over +10%. The Russell Midcap Index rose +9% and the Russell 2000 Index was up +5%. From a style perspective, the Russell 1000 Growth Index's +11% outpaced its value counterpart, which was up 9%. The Russell Midcap Growth and Value Indices rose 9% and 8% respectively. The Russell 2000 Growth Index rose +8%, while its value counterpart rose +3%....

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