Polen Capital, an investment management company, released its “Polen International Growth Strategy” first-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy returned 13.85% net in the first quarter compared to a 6.87% return for the MSCI ACWI (ex-USA). Most of the companies the fund owns continue to deliver steady growth, and the portfolio outperformed its benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Polen International Growth Strategy highlighted stocks like Aon plc (NYSE:AON) in the first quarter 2023 investor letter. Headquartered in Dublin, Ireland, Aon plc (NYSE:AON) is a professional service company that provides advice and solutions on risk, retirement, and health. On June 22, 2023, Aon plc (NYSE:AON) stock closed at $333.39 per share. One-month return of Aon plc (NYSE:AON) was 7.13%, and its shares gained 26.29% of their value over the last 52 weeks. Aon plc (NYSE:AON) has a market capitalization of $68.094 billion.
Polen International Growth Strategy made the following comment about Aon plc (NYSE:AON) in its first quarter 2023 investor letter:
“In order to fund the purchase of, and subsequent addition to, Teleperformance, we modestly trimmed our positions in Aon plc (NYSE:AON) and Accenture. We trimmed our weighting in Aon, though it remains a top three weighting in the Portfolio. We believed there was room to trim the position after significant relative outperformance by the stock in 2022. There is no change to our positive outlook for this business. We also trimmed our weighting in Accenture, our second trim in the past four months, as the company returns to a normal growth trajectory after an extended stretch of robust results brought about by the pandemic. In addition to growth normalizing, we see increased signs of slowing enterprise tech spending. We continue to believe Accenture is well positioned to grow in line with historical performance, meaning we see the business producing low-double digit total return growth from here.”
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Aon plc (NYSE:AON) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 48 hedge fund portfolios held Aon plc (NYSE:AON) at the end of first quarter 2023 which was 56 in the previous quarter.
We discussed Aon plc (NYSE:AON) in another article and shared the list of best insurance brokerage stocks to buy. In addition, please check out our hedge fund investor letters Q1 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.
