Fiduciary Management Inc.’s Q1 2025 Investor Letter

Fiduciary Management Inc. (FMI), an independent money management firm, released its first-quarter 2025 investor letter. US stock markets experienced a decline in Q1 due to changing trade policies and skepticism about AI, with the S&P 500 Index and Russell 2000 Index falling 4.27% and 9.48%, respectively. Consumer confidence fell to a 12-year low amid uncertainty. International stock markets performed better. Value equities are outperforming the growth stock so far in 2025, which is...