Aoris Investment Management, a specialist international equity manager, released its “Aoris International Fund” Q2 2024 investor letter. A copy of the letter can be downloaded here. In the quarter, Portfolio’s Class A (Unhedged) returned -2.9% compared to 0.5% return for the MSCI AC World Accum Index ex-Australia (AUD). The fund’s Class C (Hedged) returned -1.0% compared to a 3.3% return for the MSCI AC World Accum Index ex-Australia 100% Hedged (AUD). In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Aoris International Fund highlighted stocks like LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY), in the second quarter 2024 investor letter. LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) is a luxury goods company. The one-month return of LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) was 3.13%, and its shares lost 11.65% of their value over the last 52 weeks. On August 20, 2024, LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) stock closed at $150.73 per share with a market capitalization of $376.444 billion.
Aoris International Fund stated the following regarding LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) in its Q2 2024 investor letter:
“LVMH Moët Hennessy – Louis Vuitton, Société Européenne’s (OTC:LVMUY) revenue increased at an unusually rapid rate over the 2021 to 2023 period. The impact of this on LVMH’s earnings was amplified by an increase in its profit margin to levels far above its historical average.
While we initially believed the company could sustain its revenue and margins at this elevated level, after doing so for three consecutive years, a weaker than expected result in the March quarter led us to question these assumptions and hence our valuation.
We sold LVMH as its elevated earnings growth over the last few years creates a wide range of future outcomes and makes it di¢cult for us to value the business with confidence.”
A stunning jewelry display with diamonds and gold, highlighting the company’s commitment to quality.
LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 1 hedge fund portfolios held LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) at the end of the second quarter which was 2 in the previous quarter. While we acknowledge the potential of LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) and shared the list of ‘Super 7’ European Stocks Jim Cramer likes. In addition, please check out our hedge fund investor letters Q2 2024 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.
