Reasons for the Rise of F&G Annuities & Life (FG) in Q3

Investment management company Ave Maria recently released its “Ave Maria World Equity Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -4.88% compared to the MSCI All Country World Index’s -3.40% return. Year-to-date the fund returned 9.62% compared to the 10.06% 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 highlighted stocks like F&G Annuities & Life, Inc. (NYSE:FG) in the third 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 December 13, 2023, F&G Annuities & Life, Inc. (NYSE:FG) stock closed at $47.42 per share. One-month return of F&G Annuities & Life, Inc. (NYSE:FG) was 18.38%, and its shares gained 139.04% of their value over the last 52 weeks. F&G Annuities & Life, Inc. (NYSE:FG) has a market capitalization of $5.952 billion.

Ave Maria World Equity Fund made the following comment about F&G Annuities & Life, Inc. (NYSE:FG) in its Q3 2023 investor letter:

F&G Annuities & Life, Inc. (NYSE:FG) is a fixed income annuity provider, which is majority owned by Fidelity National Financial (FNF). 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 their strong relationships with leading banks and broker dealers.”

An image of a man and a woman signing an annuity agreement, showing the commitment of the company.

F&G Annuities & Life, Inc. (NYSE:FG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 9 hedge fund portfolios held F&G Annuities & Life, Inc. (NYSE:FG) at the end of third quarter which was 10 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

 Disclosure: None. This article is originally published at Insider Monkey.