ClearBridge Investments, an investment management company, released its “ClearBridge International Growth EAFE Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. Holdings in Europe and the United Kingdom made significant contributions to the Strategy’s performance, which exceeded its benchmark, the MSCI EAFE Index. The strategy generated gains across nine of the ten sectors in which it was invested during the quarter, on an absolute basis. Overall sector allocation contributed to the performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge International Growth EAFE Strategy featured stocks such as Accenture plc (NYSE:ACN) in the fourth quarter 2023 investor letter. Headquartered in Dublin, Ireland, Accenture plc (NYSE:ACN) is a professional services company that provides management consulting, technology, and outsourcing services. On January 9, 2024, Accenture plc (NYSE:ACN) stock closed at $342.75 per share. One-month return of Accenture plc (NYSE:ACN) was -0.26%, and its shares gained 21.94% of their value over the last 52 weeks. Accenture plc (NYSE:ACN) has a market capitalization of $214.902 billion.
ClearBridge International Growth EAFE Strategy stated the following regarding Accenture plc (NYSE:ACN) in its fourth quarter 2023 investor letter:
“Another welcome change has been the recognition of generative artificial intelligence (AI) opportunities for companies outside the U.S. While our IT holdings trailed their mega cap U.S. counterparts for most of the year, semiconductor equipment makers ASML and Tokyo Electron, which we consider enablers of AI, as well as enterprise software maker SAP and IT consultant Accenture plc (NYSE:ACN), which we see as facilitators of AI adoption in new product lines and/or enhanced business models, rose strongly in the quarter. These companies are rolling out new, AI-enhanced products at higher prices which should positively impact earnings in the near term.”
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Accenture plc (NYSE:ACN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 55 hedge fund portfolios held Accenture plc (NYSE:ACN) at the end of third quarter which was 56 in the previous quarter.
We discussed Accenture plc (NYSE:ACN) in another article and shared the list of best January dividend stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 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.
