NVZMF - Mar Vista Global Quality Q4 2024 Commentary
2025-02-16 21:25:00 ET
Summary
- The MSCI World Net Index climbed 18.7% for the year, marking its second consecutive annual gain above 15%, and capping a remarkable two-year run with a 47% total return.
- Mar Vista’s Global Quality strategy returned -3.31% net-of-fees in the fourth quarter of 2024. The MSCI World Net Index and the MSCI All Country World Net Index returned -0.16% and -0.99%, respectively.
- The fourth quarter’s top portfolio contributors were Broadcom, Salesforce, and Amazon. The top detractors were American Tower, Nestle, and Novonesis.
- During the quarter, we increased our investments in Alphabet, Brookfield Corp, Danaher, Intuit, Meta Platforms, and established a new position in ASML Holdings. We reduced our position in American Tower and completely liquidated our investments in Disney and Roper Technologies.
- The global market expects low-double-digit growth in MSCI World earnings for 2025.
Commentary
The global stock market climbed in 2024 as investors embraced lower interest rates and inflation in developed markets. The MSCI World Net Index climbed 18.7% for the year, marking its second consecutive annual gain above 15%, and capping a remarkable two-year run with a 47% total return....
Mar Vista Global Quality Q4 2024 Commentary