Aoris Investment Management, a specialist international equity manager, released its “Aoris International Fund” Q2 2024 investor letter. A copy of the letter can be downloaded here. In the quarter, Portfolio’s Class A (Unhedged) returned -2.9% compared to 0.5% return for the MSCI AC World Accum Index ex-Australia (AUD). The fund’s Class C (Hedged) returned -1.0% compared to a 3.3% return for the MSCI AC World Accum Index ex-Australia 100% Hedged (AUD). In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Aoris International Fund highlighted stocks like Visa Inc. (NYSE:V) in the second quarter 2024 investor letter. Visa Inc. (NYSE:V) is a payment technology company. The one-month return of Visa Inc. (NYSE:V) was -1.23%, and its shares gained 11.42% of their value over the last 52 weeks. On August 20, 2024, Visa Inc. (NYSE:V) stock closed at $268.04 per share with a market capitalization of $521.574 billion.
Aoris International Fund stated the following regarding Visa Inc. (NYSE:V) in its Q2 2024 investor letter:
“Visa Inc. (NYSE:V) operates the world’s largest payments network, which facilitates the movement of money between merchants, financial institutions, consumers, businesses, and governments.
The company is best known for enabling consumers to make debit and credit card payments. In the year to September 2023, 4.3 billion Visa cardholders made 213 billion transactions on its network, to a total value of US$12.1 trillion.
Compared to cash and cheques, which are still widely used around the world, Visa’s network is a more convenient, secure, and ubiquitous way for consumers to pay. Visa has invested to reduce friction and fraud in the payments experience, to the benefit of both merchants and consumers…” (Click here to read the full text)
A close-up of a credit card being swiped on a payment terminal, reflecting the company’s payments technology.
Visa Inc. (NYSE:V) is in 6th position on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 163 hedge fund portfolios held Visa Inc. (NYSE:V) at the end of the second quarter which was 166 in the previous quarter. Visa Inc. (NYSE:V) delivered strong results in the Fiscal Third Quarter 2024, with net revenue of $8.9 billion, up 10% year over year, and EPS rising by 12%. While we acknowledge the potential of Visa Inc. (NYSE:V) 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 another article, we discussed Visa Inc. (NYSE:V) and shared the list of stocks that Warren Buffett and hedge funds are crazy about. 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.
