ClearBridge Investments, an investment management company, released its “ClearBridge International Value Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. During the quarter, the strategy outperformed its MSCI All Country World Ex-U.S. Index. The strategy gained in 10 of the 11 sectors it invested in the quarter, on an absolute basis. The financials, industrials, and energy sectors were the leading contributors while communication services and real estate sectors detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge International Value Strategy highlighted stocks like Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) in the fourth quarter 2022 investor letter. Headquartered in Tokyo, Japan, Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) is a bank holding company. On March 14, 2023, Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) stock closed at $6.27 per share. One-month return of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) was -15.38%, and its shares lost 2.03% of their value over the last 52 weeks. Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) has a market capitalization of $75.92 billion.
ClearBridge International Value Strategy made the following comment about Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) in its Q4 2022 investor letter:
“We also initiated a position in Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG), a Japanese financial company that provides retail and commercial banking, investment banking, capital markets, and asset management services globally. We believe the Bank of Japan’s Yield Curve Control policies have proved a major headwind to Japanese banking earnings since first introduced in 2016. However, as Japan finds itself facing the same rising inflationary pressures that have forced most other global central banks to embark on a path of interest rate normalization, we believe the Bank of Japan is likely to follow suit. This should help remove the headwinds that have weighed on Mitsubishi UFJ’s net interest income for the last six years and help to spur greater increases in income, margins, and profitability.”
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Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) at the end of the fourth quarter which was 12 in the previous quarter.
We discussed Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) in another article and shared the list of high growth financial stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 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.
