Wasatch Global Opportunities Fund Q4 2024 Commentary

2025-03-24 22:26:00 ET

Summary

• Wasatch Global Opportunities Fund—Investor Class was down -2.25% but outperformed the benchmark MSCI AC (All Country) World Small Cap Index, which lost -3.26%.
• At the sector level, the Fund’s stock selection in health care and lack of exposure to real estate contributed most to relative performance.
• Within the U.S., small-cap stocks were up considerably after the November election.

OVERVIEW

Global small-cap equities lost ground in the fourth quarter. In November, returns among markets were mixed. In the U.S., small-caps were up sharply after the country’s presidential election as investors anticipated that a Trump presidency could lead to corporate tax cuts and less regulation for smaller companies. Equities from countries or sectors that are more likely to be in the crosshairs of potential tariffs did not fare as well and ended the month down. In December, macroeconomic and geopolitical concerns continued to weigh on markets. Additionally, the U.S. Federal Reserve signaled it may have to keep interest rates higher in 2025 than investors initially expected, which dampened investor sentiment....

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