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 Novo Nordisk A/S (NYSE:NVO) in the third quarter 2023 investor letter. Headquartered in Bagsvaerd, Denmark, Novo Nordisk A/S (NYSE:NVO) is a healthcare company. On December 20, 2023, Novo Nordisk A/S (NYSE:NVO) stock closed at $101.31 per share. One-month return of Novo Nordisk A/S (NYSE:NVO) was -1.89%, and its shares gained 51.64% of their value over the last 52 weeks. Novo Nordisk A/S (NYSE:NVO) has a market capitalization of $451.717 billion.
Mawer Investment Management made the following comment about Novo Nordisk A/S (NYSE:NVO) in its Q3 2023 investor letter:
“Novo Nordisk A/S (NYSE:NVO) had a strong quarter as its blockbuster obesity treatment was shown to result in markedly lower risk of cardiovascular events. Our initial investment thesis was predicated on what a strong culture and a focused research and development approach might deliver with respect to innovation. This appears to be playing out and is responsible for breakthroughs in diabetes-adjacent areas such as obesity.”
A scientist in a lab, researching for a breakthrough treatment for Alzheimer’s disease, diabetes nephropathy, asthma, COPD, NASH, and Type 1 Diabetes.
Novo Nordisk A/S (NYSE:NVO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 51 hedge fund portfolios held Novo Nordisk A/S (NYSE:NVO) at the end of third quarter which was 43 in the previous quarter.
We discussed Novo Nordisk A/S (NYSE:NVO) in another article and shared the list of best European dividend stocks to buy. 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.
