Here’s Why Brown Advisors Global Leaders Strategy Sold The Estée Lauder Companies Inc. (EL)

Brown Advisors, an investment management company, released its “Brown Advisors Global Leaders Strategy” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. In the letter the firm discusses its performance, four new investments made in 2024, lessons from one exit, and insights from its annual offsite. The strategy targets double-digit annualized returns over five years, aiming for 10%+ to double investors’ money every seven years. In 2024, the UCITS C-share USD returned 14.7% net of fees, while the MSCI ACWI benchmark returned 17.5%. Since inception, the...