Cooper Investors, an investment management firm, released its “Cooper Investors Global Equities Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund returned -5.5% in the second quarter, compared to a 3.2% return for the benchmark. Year to date, the fund returned 7.4% compared to 19.4% for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Cooper Investors Global Equities Fund highlighted stocks like Aon plc (NYSE:AON), in the second quarter 2024 investor letter. Aon plc (NYSE:AON) offers a range of risk and human capital solutions. The one-month return of Aon plc (NYSE:AON) was 10.45%, and its shares gained 3.56% of their value over the last 52 weeks. On August 12, 2024, Aon plc (NYSE:AON) stock closed at $328.86 per share with a market capitalization of $71.442 billion.
Cooper Investors Global Equities Fund stated the following regarding Aon plc (NYSE:AON) in its Q2 2024 investor letter:
“During the quarter the portfolio exited Aon plc (NYSE:AON), an exceptional performer over our 11-year holding period but one where we have observed VoF trends deteriorating in recent times: • Value Latency is not what it was; management have done a great job expanding margins and returns by over 1,000 basis points since our initial investment but that’s unlikely to repeat. • Operating and Industry trends have slowed with organic growth starting to lag peers and a hard insurance market starting to soften after years of a sweet spot for brokers. • Focused Management Behaviour appears to be slipping – the acquisition of mid-market platform NFP may drag on free cash flow, limit balance sheet optionality and act as a distraction at a time when a highly rated CFO is exiting.”
A group of multi-cultural professionals discussing the future of insurance services in a modern office.
Aon plc (NYSE:AON) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 51 hedge fund portfolios held Aon plc (NYSE:AON) at the end of the first quarter which was 57 in the previous quarter. In the second quarter, Aon plc (NYSE:AON) delivered exceptional results with a 6% rise in organic revenue. While we acknowledge the potential of Aon plc (NYSE:AON) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Aon plc (NYSE:AON) and shared the list of top companies in London. In addition, please check out our hedge fund investor letters Q2 2024 page for more investor letters from hedge funds and other leading investors.
READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.
Disclosure: None. This article is originally published at Insider Monkey.
