Here’s Why Fiduciary Management Sold its Accenture (ACN) Position

Fiduciary Management Inc., an investment management firm, published its “International Equity” first quarter 2021 investor letter – a copy of which can be downloaded here.  A return of 7.2% (currency hedged) was reported by the FMI International portfolios for the Q1 of 2021, compared to its MSCI EAFE benchmark that delivered a 7.59% return in local currency (LOC) and 3.48% in U.S. Dollars (USD) over the same period. You can view the fund’s top 5 holdings to have a peek at their top...