Latest news with #MSCIACWIIndex
Yahoo
16-05-2025
- Business
- Yahoo
Cameco Corporation (CCJ) Fell Following President Trump's 10% Tariff on Canadian Energy Exports
Aristotle Capital Management, LLC, an investment management company, released its 'Global Equity Strategy' first quarter 2025 investor letter. A copy of the same can be downloaded here. Global equity markets experienced a negative Q1 return, while global fixed income grew. Value stocks outpaced growth, with the MSCI ACWI Value Index outperforming the Growth Index by 11.59%. Aristotle Capital Global Equity Strategy returned 1.12% gross of fees (1.02% net of fees) in the first quarter, outperforming the MSCI ACWI Index's -1.32% return and the MSCI World Index's -1.79% return. In addition, you can check the fund's top 5 holdings to determine its best picks for 2025. In its first-quarter 2025 investor letter, Aristotle Capital Global Equity Strategy highlighted stocks such as Cameco Corporation (NYSE:CCJ). Cameco Corporation (NYSE:CCJ) is a leading uranium producing company. One-month return of Cameco Corporation (NYSE:CCJ) was 25.28%, and its shares gained 3.53% of their value over the last 52 weeks. On May 15, 2025, Cameco Corporation (NYSE:CCJ) stock closed at $51.59 per share with a market capitalization of $22.458 billion. Aristotle Capital Global Equity Strategy stated the following regarding Cameco Corporation (NYSE:CCJ) in its Q1 2025 investor letter: "Cameco Corporation (NYSE:CCJ), one of the world's largest uranium producers, was a primary detractor during the quarter. Shares of the Canada based company declined following President Trump's 10% tariff on Canadian energy exports to the U.S., where Cameco is a major uranium supplier. However, we believe these tariff concerns are overstated given the inelastic nature of uranium demand and the lack of substitutes. Any incremental costs would be absorbed by utilities under existing contract structures. While the company's stock price may have followed the decline in uranium spot prices during the period, Cameco's business is largely insulated from short-term price swings due to its extensive use of long-term contracts rather than spot-market sales. A close up of the reactor core, highlighting the complexity of the uranium power process. Cameco Corporation (NYSE:CCJ) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 65 hedge fund portfolios held Cameco Corporation (NYSE:CCJ) at the end of the fourth quarter which was 60 in the previous quarter. While we acknowledge the potential of Cameco Corporation (NYSE:CCJ) 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 undervalued AI stock set for massive gains. In another article, we covered Cameco Corporation (NYSE:CCJ) and shared the list of small-cap energy stocks hedge funds are buying. Cameco Corporation (NYSE:CCJ) was a major contributor to Aristotle International Equity Strategy's performance during Q4 2024. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey.
Business Wire
13-05-2025
- Business
- Business Wire
MSCI Equity Indexes May 2025 Index Review
LONDON--(BUSINESS WIRE)--MSCI Inc. (NYSE: MSCI), a leading provider of critical decision support tools and services for the global investment community, announced the results of the May 2025 Index Review for the MSCI Equity Indexes. All changes will be implemented as of the close of May 30, 2025. Highlights include: MSCI Global Standard Indexes: Thirty securities will be added to and 61 securities will be deleted from the MSCI ACWI Index. The three largest additions to the MSCI World Index measured by full company market capitalization will be Ryanair Holdings (Ireland), Sigma Healthcare (Australia) and International Airlines Group (Spain). The three largest additions to the MSCI Emerging Markets Index measured by full company market capitalization will be ADNOC Gas (United Arab Emirates), Dubai Electricity & Water Authority (United Arab Emirates) and Sichuan Biokin Pharmaceutical A (HK-C) (China). MSCI Global Small Cap Indexes: There will be 147 additions to and 201 deletions from the MSCI ACWI Small Cap Index. MSCI Global Investable Market Indexes: There will be 123 additions to and 208 deletions from the MSCI ACWI Investable Market Index (IMI). MSCI Global All Cap Indexes: There will be 98 additions to and 108 deletions from the MSCI World All Cap Index. MSCI Frontier Markets Indexes: There will be twelve additions to and three deletions from the MSCI Frontier Markets Index. The three largest additions to the MSCI Frontier Markets Index measured by full company market capitalization will be Tien Phong Commercial (Vietnam), Credit Du Maroc (Morocco) and Sonasid (Morocco). There will be 16 additions to and eight deletions from the MSCI Frontier Markets Small Cap Index. In light of currently observed market accessibility issues, MSCI will continue to not implement changes as part of this Index Review for any securities classified in Bangladesh for the MSCI Bangladesh Indexes or impacted composite indexes. These changes, along with other changes across MSCI Equity Indexes including the MSCI US Equity Indexes, MSCI US REIT Index, MSCI China A Onshore Indexes and China All Shares Indexes are available on MSCI's "Index Review" web page: -Ends- About MSCI MSCI is a leading provider of critical decision support tools and services for the global investment community. With over 50 years of expertise in research, data and technology, we power better investment decisions by enabling clients to understand and analyze key drivers of risk and return and confidently build more effective portfolios. We create industry-leading research-enhanced solutions that clients use to gain insight into and improve transparency across the investment process. 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MSCI does not issue, sponsor, endorse, market, offer, review or otherwise express any opinion regarding any fund, ETF, derivative or other security, investment, financial product or trading strategy that is based on, linked to or seeks to provide an investment return related to the performance of any MSCI index (collectively, 'Index Linked Investments'). MSCI makes no assurance that any Index Linked Investments will accurately track index performance or provide positive investment returns. MSCI Inc. is not an investment adviser or fiduciary and MSCI makes no representation regarding the advisability of investing in any Index Linked Investments. Index returns do not represent the results of actual trading of investible assets/securities. MSCI maintains and calculates indexes, but does not manage actual assets. The calculation of indexes and index returns may deviate from the stated methodology. Index returns do not reflect payment of any sales charges or fees an investor may pay to purchase the securities underlying the index or Index Linked Investments. The imposition of these fees and charges would cause the performance of an Index Linked Investment to be different than the MSCI index performance. The Information may contain back tested data. Back-tested performance is not actual performance, but is hypothetical. There are frequently material differences between back tested performance results and actual results subsequently achieved by any investment strategy. Constituents of MSCI equity indexes are listed companies, which are included in or excluded from the indexes according to the application of the relevant index methodologies. Accordingly, constituents in MSCI equity indexes may include MSCI Inc., clients of MSCI or suppliers to MSCI. Inclusion of a security within an MSCI index is not a recommendation by MSCI to buy, sell, or hold such security, nor is it considered to be investment advice. Data and information produced by various affiliates of MSCI Inc., including MSCI ESG Research LLC and Barra LLC, may be used in calculating certain MSCI indexes. More information can be found in the relevant index methodologies on MSCI receives compensation in connection with licensing its indexes to third parties. MSCI Inc.'s revenue includes fees based on assets in Index Linked Investments. Information can be found in MSCI Inc.'s company filings on the Investor Relations section of MSCI ESG Research LLC is a Registered Investment Adviser under the Investment Advisers Act of 1940 and a subsidiary of MSCI Inc. Neither MSCI nor any of its products or services recommends, endorses, approves or otherwise expresses any opinion regarding any issuer, securities, financial products or instruments or trading strategies and MSCI's products or services are not a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such, provided that applicable products or services from MSCI ESG Research may constitute investment advice. MSCI ESG Research materials, including materials utilized in any MSCI ESG Indexes or other products, have not been submitted to, nor received approval from, the United States Securities and Exchange Commission or any other regulatory body. MSCI ESG and climate ratings, research and data are produced by MSCI ESG Research LLC, a subsidiary of MSCI Inc. MSCI ESG Indexes, Analytics and Real Estate are products of MSCI Inc. that utilize information from MSCI ESG Research LLC. MSCI Indexes are administered by MSCI Limited (UK) and MSCI Deutschland GmbH. Please note that the issuers mentioned in MSCI ESG Research materials sometimes have commercial relationships with MSCI ESG Research and/or MSCI Inc. (collectively, 'MSCI') and that these relationships create potential conflicts of interest. In some cases, the issuers or their affiliates purchase research or other products or services from one or more MSCI affiliates. In other cases, MSCI ESG Research rates financial products such as mutual funds or ETFs that are managed by MSCI's clients or their affiliates, or are based on MSCI Inc. Indexes. In addition, constituents in MSCI Inc. equity indexes include companies that subscribe to MSCI products or services. In some cases, MSCI clients pay fees based in whole or part on the assets they manage. MSCI ESG Research has taken a number of steps to mitigate potential conflicts of interest and safeguard the integrity and independence of its research and ratings. More information about these conflict mitigation measures is available in our Form ADV, available at Any use of or access to products, services or information of MSCI requires a license from MSCI. MSCI, Barra, RiskMetrics, IPD and other MSCI brands and product names are the trademarks, service marks, or registered trademarks of MSCI or its subsidiaries in the United States and other jurisdictions. The Global Industry Classification Standard (GICS) was developed by and is the exclusive property of MSCI and S&P Dow Jones Indices. 'Global Industry Classification Standard (GICS)' is a service mark of MSCI and S&P Dow Jones Indices. MIFID2/MIFIR notice: MSCI ESG Research LLC does not distribute or act as an intermediary for financial instruments or structured deposits, nor does it deal on its own account, provide execution services for others or manage client accounts. No MSCI ESG Research product or service supports, promotes or is intended to support or promote any such activity. MSCI ESG Research is an independent provider of ESG data.
Reuters
04-04-2025
- Business
- Reuters
Shifting world order suits ‘inbetweener' economies
LONDON, April 4 (Reuters Breakingviews) - If there was any remaining doubt, the unipolar U.S. moment is over. On January 30 newly installed U.S. Secretary of State Marco Rubio called time, opens new tab on the country's three-decade-long run as the sole arbiter of global affairs, calling it an 'anomaly'. A fortnight later, Secretary of Defense Pete Hegseth explained, opens new tab clearly the new dynamic when he described China as a 'peer competitor' and told other members of the NATO alliance that the U.S. must henceforth focus on deterrence of its new superpower rival. Russia's invasion of Ukraine, the conflicts in the Middle East, and the U.S. insistence that allies from Canada to Panama reject what it claims to be Chinese infiltration were already symptoms of a new, fundamentally bipolar world order. President Donald Trump's blanket tariffs on global trading partners, which he unveiled on Wednesday, further underscore the shift. International investment allocations, however, remain glaringly out of sync with this epochal geopolitical shift. For the past decade and a half, American capital markets have been the only game in town. As of December, net foreign ownership of U.S. assets hit an all-time high of just over $26 trillion, or almost 90% of the United States' GDP, according to the U.S. Bureau of Economic Analysis. The U.S. stock market is so gargantuan – and richly valued – that it accounts for almost three-quarters of the MSCI World Index, opens new tab of developed market equities. Three companies – Apple (AAPL.O), opens new tab, Nvidia (NVDA.O), opens new tab and Microsoft (MSFT.O), opens new tab – each represent higher shares of the MSCI ACWI Index, opens new tab of global equities than the entire UK stock market. When it comes to investing, it is as if the American unipolar moment never ended. The net result of this almighty disconnect is the prospect of a generational shift in asset allocations as investors seek to realign their portfolios with the new geopolitical reality. Where they should redeploy their capital, however, is no simple question. On the one hand, the opportunity set is larger than ever. Unlike during the original Cold War, three decades of globalisation mean investors today have access, opens new tab to large, liquid financial markets on all sides of the new strategic divides. On the other, the new world disorder is comprehensively upending global investment risk. Public finances are straining, opens new tab from myriad new stresses, trade and finance are facing dramatic new disruptions, and capital flows are undergoing sharp adjustments, opens new tab. One compelling category of investment destinations might be termed 'inbetweeners': those major emerging markets which combine investable financial markets with the economic and geopolitical heft to avoid wholesale alignment with either the U.S. or China. Investors will doubtless disagree about exactly which jurisdictions meet these two criteria. But at a minimum Brazil, Turkey, South Africa, the Gulf Cooperation Council countries, India, and Indonesia make the grade. That group alone makes the inbetweeners too big to ignore. They collectively account for more than a quarter of the globe's working-age population; nearly a fifth of world GDP measured at purchasing power parity; just under a sixth of global active military personnel; and around a tenth of world trade and defence spending, respectively. The thesis that strategic neutrality can yield tangible economic advantages, meanwhile, has historical precedent to back it up. In 1961, the leaders of 25 developing countries founded the Non-Aligned Movement, opens new tab (NAM) with the express intent of preserving autonomy in trade, technology, and financial relations with the Cold War's two superpowers. Over the next two decades, that strategy paid off. Per-capita income growth in NAM countries notably outperformed the world average. Leading members which maximised the opportunity to borrow from and trade with both east and west pocketed even larger rewards. Egypt, Yugoslavia, and Indonesia grew their economies at average annual rates of 6.0%, 5.7%, and 5.4% a year, respectively, for 20 years straight. In today's era of far more integrated global trade and capital markets, the benefits of being on good terms with both the world's superpowers are undoubtedly even bigger. For a taste of the advantages, look no further than financial centres such as Dubai and Singapore – the boomtowns luring international bankers from London and New York – or former backwaters such as Kazakhstan which have become vibrant hubs of east-west trade. Playing the middleman in a global economy 10 times the size it was in the days of the original NAM is at least 10 times as valuable. Forget the regulatory and tax arbitrage that has been the key to optimising corporate capital structures and supply chains for the last three decades. It is geopolitical arbitrage which will unlock resilience and profitability in the new Cold War – and it is inbetweeners that offer the obvious go-to locations for that service. Yet while non-alignment served the original NAM very nicely in the 1960s and 70s, its members' performance in the 1980s was less impressive. Between 1981 and 1991, the group's per-capita income growth began to lag competitors in the western and eastern blocs. In Yugoslavia, which had enjoyed the most liberal access to trade and finance from both sides, income per head actually shrank. It turned out that the independence afforded by being indispensable to both sides in a polarised world could easily slip into policy indiscipline. That is a cautionary tale for investors attracted to today's inbetweeners. Between 2000 and 2014, Saudi Arabia ran an average fiscal surplus of nearly 8% of GDP. For the last decade, extravagant investment projects such as the $500 billion NEOM development project have converted that into an average annual deficit of 6% of GDP. Last month, Turkish President Tayyip Erdogan's main challenger Ekrem Imamoglu was detained on corruption charges, sending the country's financial markets into free-fall. The disintegration of the unipolar world order may mean that valuable external constraints on inbetweener governance and public finances will evaporate as well. The biggest threat to the inbetweeners' bid for a share of the coming reconfiguration of global capital flows comes from an entirely different direction, however. The starkest difference between the original Cold War and the latest superpower showdown is the sudden U.S. repudiation of its long-time allies in Europe, North America, and Asia. That raises an obvious possibility. Maybe the real inbetweeners are now closer to home than developed-market investors think. The investment destinations that offer the biggest geopolitical arbitrage opportunity to refugees from the U.S.'s out-of-sync unipolar markets are none other than Europe, Canada, and Japan.
Yahoo
22-03-2025
- Business
- Yahoo
Novo Nordisk A/S (NVO) Dropped as Trial Results Fell Short of Expectations
Polen Capital, an investment management company, released its 'Polen Global Growth Strategy' fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. Over the past two years, global equities (2023-2024) showed a historic +45% cumulative return as per the MSCI ACWI Index (the "Index"), emphasizing market unpredictability and the futility of macroeconomic projections. The Strategy returned 2.58% gross (2.27% net) in the quarter compared to the MSCI ACW Index's -0.99% return. In addition, please check the fund's top five holdings to know its best picks in 2024. In its fourth quarter 2024 investor letter, Polen Global Growth Strategy emphasized stocks such as Novo Nordisk A/S (NYSE:NVO). Novo Nordisk A/S (NYSE:NVO) engages in the research and development, manufacture, and distribution of pharmaceutical products. The one-month return of Novo Nordisk A/S (NYSE:NVO) was -2.90%, and its shares lost 37.88% of their value over the last 52 weeks. On March 18, 2025, Novo Nordisk A/S (NYSE:NVO) stock closed at $80.98 per share with a market capitalization of $357.034 billion. Polen Global Growth Strategy stated the following regarding Novo Nordisk A/S (NYSE:NVO) in its Q4 2024 investor letter: "The largest relative detractors in the quarter were Novo Nordisk A/S (NYSE:NVO), Novo Nordisk, and Adobe. The largest absolute detractors were ICON plc, Novo Nordisk, and L'Oreal. An elderly couple receiving insulin from a pharmacist, representing healthcare company's successful pharmaceutical products. Novo Nordisk A/S (NYSE:NVO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 64 hedge fund portfolios held Novo Nordisk A/S (NYSE:NVO) at the end of the fourth quarter compared to 61 in the third quarter. While we acknowledge the potential of Novo Nordisk A/S (NYSE:NVO) 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 Novo Nordisk A/S (NYSE:NVO) and shared the list of stocks market experts are talking about these days. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
04-03-2025
- Business
- Yahoo
Here's Why JD.com (JD) Slid in Q4
Ariel Investments, an investment management company, released its 'Ariel Global Fund' fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. In 2024, global markets surpassed expectations, driven by U.S. tech companies and AI-themed stocks. However, Eurozone challenges, uncertainty over interest rates, and a strengthening U.S. dollar impacted MSCI ACWI and EAFE Indices. Against this backdrop, the Ariel Global fund traded -3.66% lower compared to the -0.99% return of its primary benchmark, the MSCI ACWI Index, and -4.71% return of its secondary benchmark, the MSCI ACWI Value Index. The fund returned +7.14% over the trailing one-year period compared to +17.49% and +10.76% returns for the indexes. Ariel follows a non-consensus approach to identify undervalued, out-of-favor franchises that are misunderstood and mispriced. In addition, please check the fund's top five holdings to know its best picks in 2024. In its fourth quarter 2024 investor letter, Ariel Global Fund emphasized stocks such as Inc. (NASDAQ:JD). Based in the People's Republic of China, Inc. (NASDAQ:JD) is a supply chain-based technology and service provider. The one-month return of Inc. (NASDAQ:JD) was -2.24%, and its shares gained 87.69% of their value over the last 52 weeks. On March 3, 2025, Inc. (NASDAQ:JD) stock closed at $40.24 per share with a market capitalization of $63.199 billion. Ariel Global Fund stated the following regarding Inc. (NASDAQ:JD) in its Q4 2024 investor letter: "China-based E-commerce company, Inc. (NASDAQ:JD) also detracted from performance over the quarter. The stock came under pressure as some investors took profits on solid earnings performance, while others became concerned with the implications tariffs could have on the Chinese economy. In our view, this share price action runs counter to the company's solid business fundamentals. The home appliance trade-in program and popular shopping event, Singles' Day, generated significant consumer spending across various product categories. Additionally, the company's strategic decision to diversify general merchandise product offerings, expand its third-party marketplace business and monetize advertising streams continues to aid the top- and bottom-lines. Despite the near-term noise, we continue to view the company's strategic positioning favorably and like long-term growth prospects." Inc. (NASDAQ:JD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 78 hedge fund portfolios held Inc. (NASDAQ:JD) at the end of the fourth quarter compared to 75 in the third quarter. While we acknowledge the potential of Inc. (NASDAQ:JD) 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 Inc. (NASDAQ:JD) and shared the list of retail stocks are skyrocketing so far in 2025. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey.
