CME Group (CME) Benefitted from Unique Diversification

Mawer Investment Management, an asset management company, released its third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, Mawer Investment Management’s International Equity Fund, U.S. Equity Fund, U.S. Mid Cap Equity Fund, Global Equity Fund, Global Small Cap Fund, Emerging Markets Equity Fund, EAFE Large Cap Fund, Canadian Equity Fund and New Canada Fund returned -2.9%, 0.1%, 0.8%, -0.7%, -0.2%, 3.9%, -3.4%, -2.0% and -3.9% respectively. In this quarter, there was a difference in the performance of holdings across the firm’s various portfolios, which could be an indication of the economy’s fragility and the vulnerabilities clouding the global growth forecast. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Mawer Investment Management highlighted stocks like CME Group Inc. (NASDAQ:CME) in the third quarter 2023 investor letter. Headquartered in Chicago, Illinois, CME Group Inc. (NASDAQ:CME) operates contract markets for the trading of futures and options on futures contracts. On December 20, 2023, CME Group Inc. (NASDAQ:CME) stock closed at $211.05 per share. One-month return of CME Group Inc. (NASDAQ:CME) was -2.45%, and its shares gained 21.87% of their value over the last 52 weeks. CME Group Inc. (NASDAQ:CME) has a market capitalization of $75.977 billion.

Mawer Investment Management made the following comment about CME Group Inc. (NASDAQ:CME) in its Q3 2023 investor letter:

“CME Group Inc. (NASDAQ:CME), an operator of derivatives and futures exchanges, posted a strong return. The company adds unique diversification as it tends to benefit during macro uncertainty which may lead to higher activity on its various platforms.”

A view of a financial exchange, showcasing the trading activities of the company’s futures and options contracts.

CME Group Inc. (NASDAQ:CME) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 53 hedge fund portfolios held CME Group Inc. (NASDAQ:CME) at the end of third quarter which was 55 in the previous quarter.

We discussed CME Group Inc. (NASDAQ:CME) in another article and shared the top stock picks of GuardCap Asset Management. In addition, please check out our hedge fund investor letters Q3 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.