Madison Investments, an investment advisor, released its “Madison Sustainable Equity Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. During the fourth quarter, equity markets ended the year on a high note, with the S&P 500 achieving an 11.7% increase. This brought the full-year return to 26.3%. The Fund (Class Y) returned 18.0% for the year, but had a Q4 return of 11.9%, trailing the S&P 500. The fourth quarter’s strength can be attributed to the yield curve’s downward shift. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Madison Sustainable Equity Fund featured stocks such as JPMorgan Chase & Co. (NYSE:JPM) in its Q4 2023 investor letter. Headquartered in New York, New York, JPMorgan Chase & Co. (NYSE:JPM) is a financial services company. On February 1, 2024, JPMorgan Chase & Co. (NYSE:JPM) stock closed at $173.73 per share. The one-month return of JPMorgan Chase & Co. (NYSE:JPM) was 0.85%, and its shares gained 23.13% of their value over the last 52 weeks. JPMorgan Chase & Co. (NYSE:JPM) has a market capitalization of $499.769 billion.
Madison Sustainable Equity Fund stated the following regarding JPMorgan Chase & Co. (NYSE:JPM) in its fourth quarter 2023 investor letter:
“We updated the sustainable scorecard for JPMorgan Chase & Co. (NYSE:JPM). JP Morgan continues to have an Average rating across Governance, Social and Environmental factors. JP Morgan is using its business to improve climate change. JP Morgan has targeted $2.5 trillion in financing between 2021 and 2030 to advance long-term solutions to address climate change and sustainable development. The Board has oversight of corporate responsibility and ESG matters, but ESG and Sustainability are addressed across the firm. JPM does listen to shareholders. After a 31% For Vote on executive compensation in 2022, the Board will not be granting any special awards to Jamie Dimon or Daniel Pinto and if awarded to other Named Executive Officers, there will be a direct performance condition associated with the award. The Compensation Committee limited the cash percentage of Dimon and Pinto’s compensation.”
pcruciatti / Shutterstock.com
JPMorgan Chase & Co. (NYSE:JPM) is in 18th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 109 hedge fund portfolios held JPMorgan Chase & Co. (NYSE:JPM) at the end of third quarter which was 106 in the previous quarter.
We discussed JPMorgan Chase & Co. (NYSE:JPM) in another article and shared the list of most profitable blue chip stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 15 Navies with the Most Submarines in the World
- 40 Richest Countries in the World by Per Capita Net Worth
- 25 Largest Banks in the US by Total Deposits
Disclosure: None. This article is originally published at Insider Monkey.
