Pzena Investment Management recently released its third-quarter 2025 commentary for “Pzena Focused Value Strategy.” A copy of the letter can be downloaded here. Driven by optimism about AI and a September rate cut, US broad-based indexes surged in the third quarter. The technology sector was the strongest performer, with growth outpacing value. The Pzena Focused Value strategy gained but underperformed the Russell 1000 Value Index, returning 1.1% gross and 0.9% net vs. 5.3% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its...
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