Renaissance Investment Management, an investment management company, released its Q4 2024 “International Small Cap Strategy” investor letter. A copy of the letter can be downloaded here. In 2024, international equities experienced a second consecutive year of growth but underperformed their U.S. counterparts due to weak economic growth, political turmoil, tariff threats, and a strong U.S. dollar. The portfolio generated negative returns in the fourth quarter but outperformed the benchmark. For more information on the fund’s best picks in 2024, please check its top five holdings.
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