Aristotle Capital Management, LLC, an investment management company, released its “International Equity Strategy” second quarter 2024 investor letter. A copy of the letter can be downloaded here. Aristotle Capital International Equity returned -0.85% gross of fees (-0.96% net of fees) in the second quarter lagging behind the MSCI EAFE Index’s -0.42% return, and the MSCI ACWI ex USA Index’s 0.96% return. Both allocation effects and security selection led the portfolio to relatively underperform the MSCI EAFE Index from a sector perspective. Regionally security selection drove the underperformance, while allocation effects had a positive impact. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Aristotle Capital International Equity Strategy highlighted stocks like Roche Holding AG (OTC:RHHBY), in the second quarter 2024 investor letter. Roche Holding AG (OTC:RHHBY) engages in the pharmaceuticals and diagnostics businesses. The one-month return of Roche Holding AG (OTC:RHHBY) was 2.80%, and its shares lost 8.29% of their value over the last 52 weeks. On July 15, 2024, Roche Holding AG (OTC:RHHBY) stock closed at $35.95 per share with a market capitalization of $231.549 billion.
Aristotle Capital International Equity Strategy stated the following regarding Roche Holding AG (OTC:RHHBY) in its Q2 2024 investor letter:
“Founded in 1896 and headquartered in Switzerland, Roche Holding AG (OTC:RHHBY) is one of the world’s largest biotechnology and diagnostics companies. The company produced over CHF 58 billion in revenue in 2023, just under half of which was generated in the United States. Roche’s drugs are used to treat conditions in a variety of areas, including oncology (~43% of pharmaceuticals sales), neuroscience (~19%), immunology (~14%), hemophilia (~9%) and others (~15%). The company is also the leading provider of in[1]vitro diagnostics, with approximately 20% global market share.
Roche’s scale and unique structure, having both a pharmaceutical portfolio (~75% of group revenue) and a diagnostics business (~25%), positions it as a pioneer in personalized healthcare. This evolving field uses diagnostic tests to determine which treatments will work best for patients. Approximately two-thirds of Roche’s R&D projects focus on combining targeted therapies with companion diagnostics…” (Click here to read the full text)
A scientist in a lab coat inspecting a flowchart on a computer monitor to diagnose and treat cardiovascular diseases.
Roche Holding AG (OTC:RHHBY) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 1 hedge fund portfolios held Roche Holding AG (OTC:RHHBY) at the end of the first quarter which was 2 in the previous quarter. While we acknowledge the potential of Roche Holding AG (OTC:RHHBY) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In addition, please check out our hedge fund investor letters Q2 2024 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.
