Here’s Why VMH Moët Hennessy – Louis Vuitton, Société Européenne (LVMUY) Declined in Q3

Mawer Investment Management, an asset management company, released its third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, Mawer Investment Management’s International Equity Fund, U.S. Equity Fund, U.S. Mid Cap Equity Fund, Global Equity Fund, Global Small Cap Fund, Emerging Markets Equity Fund, EAFE Large Cap Fund, Canadian Equity Fund and New Canada Fund returned -2.9%, 0.1%, 0.8%, -0.7%, -0.2%, 3.9%, -3.4%, -2.0% and -3.9% respectively. In this quarter, there was a difference in the performance of holdings across the firm’s various portfolios, which could be an indication of the economy’s fragility and the vulnerabilities clouding the global growth forecast. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Mawer Investment Management highlighted stocks like LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) in the third quarter 2023 investor letter. Headquartered in Paris, France, LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) is a luxury goods company. On December 20, 2023, LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) stock closed at $161.67 per share. One-month return of LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) was 4.10%, and its shares gained 11.51% of their value over the last 52 weeks. LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) has a market capitalization of $406.762 billion.

Mawer Investment Management made the following comment about LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) in its Q3 2023 investor letter:

“On the other hand, not all businesses were able to hold up well this quarter; certain names were hit by short-term market sentiment and expectations. Macroeconomic uncertainty impacted sentiment in luxury conglomerate LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY). The company has been on an exceptional growth path over the last few years but has begun to see demand subside.”

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LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 2 hedge fund portfolios held LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) at the end of third quarter which was 3 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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 Disclosure: None. This article is originally published at Insider Monkey.