2024-07-26 08:00:00 ET
Summary
- For the second quarter of 2024, Aristotle Atlantic’s Large Cap Growth Composite posted a total return of 8.77% gross of fees, outperforming the 8.33% return of the Russell 1000 Growth Index.
- During the second quarter, the portfolio’s outperformance relative to the Russell 1000 Growth Index was primarily due to security selection.
- The equity markets in the second quarter posted positive returns, led by the broadening secular trend in AI.
Markets Review
The U.S. equity market achieved record highs, as the S&P 500 Index rose 4.28% during the period. Gains were once again driven by the “Magnificent 7.” This narrow group of stocks was responsible for the majority of the S&P 500’s return during the quarter. Concurrently, the Bloomberg U.S. Aggregate Bond Index returned 0.07% for the quarter. In terms of style, the Russell 1000 Value Index underperformed its growth counterpart by 10.50%....
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Aristotle Large Cap Growth Q2 2024 Commentary