BNTX - RGA Investment Advisors Q1 2024 Investment Commentary
2024-05-24 05:05:00 ET
Summary
- RGA Investment Advisors are an independent, fee-only investment management firm providing wealth management and financial planning for individuals, families, non-profit firms, and corporations of all sizes.
- In the first quarter, the macroeconomic environment was characterized by persistently strong economic growth alongside frustratingly resilient inflation.
- We sold down a portion of our stake in one of the world’s largest companies to finance investments in smaller-cap life science firms and an international life science company.
- As we continue to strengthen our team and enhance our capabilities, we are thrilled to announce that Ryan King has joined us as a Senior Investment Advisor and Analyst.
In the first quarter, the macroeconomic environment was characterized by persistently strong economic growth alongside frustratingly resilient inflation. Although small caps had regained some ground relative to large caps at the end of 2023, the first quarter once again saw large caps outperform their smaller counterparts. This may have resulted from a modest resurgence in inflation or possibly the continued influence of market momentum. Regardless of the underlying causes, these conditions have remained a focal point for us. Accordingly, we made several strategic adjustments during the first quarter that warrant-specific mention:
- We modestly increased our position in Maxcyte ( MXCT ) ( first dis cussed in our Q2 2022 commentary )
- We substantially increased our investment in Maravai LifeSciences ( MRVI )
- We sold a portion of our investment in Meta Platforms ( META )
- We commenced a position in Sartorius AG (SRT3) ([[SARTF]], [[SUVPF]])