PMCUF - Wasatch International Opportunities Fund Q1 2025 Commentary

2025-05-21 13:58:00 ET

Summary

• For Q1 2025, Wasatch International Opportunities Fund - Investor Class declined -0.34%, underperforming MSCI AC (All Country) World ex USA Small Cap Index, which was up 0.64%.
• The Fund’s investments in Taiwan detracted most from performance relative to the benchmark, while holdings in Japan contributed to relative performance.
• Currently, we believe tariffs won’t directly affect most of the companies in our portfolio.

OVERVIEW

Markets were volatile in the first quarter as investors weighed the impact of a potential trade war on the global economy. However, results varied considerably between markets. International stocks generally outperformed U.S. equities, and some European markets ended the period up as the outcome of the German election lessened uncertainty about the political environment in one of the region’s largest economies and as German lawmakers approved spending plans that could encourage growth....

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