Is F&G Annuities & Life (FG) Gaining Significant Market Share?

Investment management company Ave Maria recently released its “Ave Maria World Equity Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 13.99% compared to the MSCI All Country World Index’s 11.03% return. The fund returned 24.96% for the full year compared to the 22.20% return for the index. You can check the top 5 holdings of the fund to know its best picks in 2023.

Ave Maria World Equity Fund featured stocks like F&G Annuities & Life, Inc. (NYSE:FG) in the fourth quarter 2023 investor letter. Headquartered in Des Moines, Iowa, F&G Annuities & Life, Inc. (NYSE:FG) is a fixed annuity and life insurance products provider. On March 11, 2024, F&G Annuities & Life, Inc. (NYSE:FG) stock closed at $36.37 per share. One-month return of F&G Annuities & Life, Inc. (NYSE:FG) was -16.29%, and its shares gained 100.28% of their value over the last 52 weeks. F&G Annuities & Life, Inc. (NYSE:FG) has a market capitalization of $4.593 billion.

Ave Maria World Equity Fund stated the following regarding F&G Annuities & Life, Inc. (NYSE:FG) in its fourth quarter 2023 investor letter:

“F&G Annuities & Life, Inc. (NYSE:FG) is a fixed income annuity provider, which is majority owned by Fidelity National Financial. The fixed income annuity business is benefiting from the graying of America and the disappearance of the traditional pension plan. F&G is gaining significant market share under FNF ownership by capitalizing on Fidelity National Financial’s strong relationships with leading banks and broker dealers.”

A close-up of a life insurance policy with a middle-and lower-income family in the background.

F&G Annuities & Life, Inc. (NYSE:FG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, F&G Annuities & Life, Inc. (NYSE:FG) was held by 7 hedge fund portfolios, compared to 9 in the previous quarter, according to our database.

We discussed F&G Annuities & Life, Inc. (NYSE:FG) in another article and shared Ave Maria World Equity Fund’s views on the company in the previous quarter. 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.