Polen Capital, an investment management firm, published its “Polen Global Growth Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. During the first quarter of 2022, the Polen Global Growth Composite Portfolio (the “Portfolio) was down -13.30% and -13.54%, gross and net of fees, versus a decline of -5.35% for the MSCI ACWI (the “Index”). Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, Polen Global Growth Fund mentioned Accenture plc (NYSE:ACN) and explained its insights for the company. Founded in 1989, Accenture plc (NYSE:ACN) is a Dublin, Ireland-based information technology company with a $191.8 billion market capitalization. Accenture plc (NYSE:ACN) delivered a -27.00% return since the beginning of the year, while its 12-month returns are up by 7.28%. The stock closed at $302.64 per share on June 08, 2022.
Here is what Polen Global Growth Fund has to say about Accenture plc (NYSE:ACN) in its Q1 2022 investor letter:
“Accenture’s business is firing on all cylinders and continue to enjoy an acceleration in their respective fundamentals because of the increase in digitization around the world. Nearly every company today is searching for ways to become more digital, and Accenture is positioned to provide many of the solutions these companies seek. This inflection in fundamentals was not lost on the market, and each business’s stock performed exceptionally well in 2021. In fact, they represented two of the three top absolute performers for the Global Growth Portfolio last year. As a result, its stock is currently more fully priced. As such, we lowered Accenture to an average weight. We maintain high conviction in the business and plan to own it for many years, but recognize the increase in their prices.”
Our calculations show that Accenture plc (NYSE:ACN) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Accenture plc (NYSE:ACN) was in 63 hedge fund portfolios at the end of the first quarter of 2022, compared to 50 funds in the previous quarter. Accenture plc (NYSE:ACN) delivered a -2.19% return in the past 3 months.
In May 2022, we also shared another hedge fund’s views on Accenture plc (NYSE:ACN) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.