Diamond Hill Capital, an investment management firm, published its “Diamond Hill International Fund” first-quarter 2022 investor letter – a copy of which can be downloaded here. During a volatile quarter, the portfolio held up better than the Morningstar Global Markets ex-US Index by a decent margin. After a strong rebound in 2021, the fund expects the global GDP growth to moderate in 2022. Try to take some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, Diamond Hill International Fund mentioned Credicorp Ltd. (NYSE:BAP) and explained its insights for the company. Founded in 1995, Credicorp Ltd. (NYSE:BAP) is a Lima, Peru-based financial company with a $9.1 billion market capitalization. Credicorp Ltd. (NYSE:BAP) delivered a -5.77% return since the beginning of the year, while its 12-month returns are down by -3.17%. The stock closed at $115.03 per share on July 14, 2022.
Here is what Diamond Hill International Fund Concentrated Fund has to say about Credicorp Ltd. (NYSE:BAP) in its Q1 2022 investor letter:
"Credicorp shares outperformed on continued fundamental improvements, better-than-expected FY2022 guidance, positive sentiments on rising rates and higher commodities prices globally, of which Peru is a beneficiary."
Our calculations show that Credicorp Ltd. (NYSE:BAP) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Credicorp Ltd. (NYSE:BAP) was in 20 hedge fund portfolios at the end of the first quarter of 2022, compared to 17 funds in the previous quarter. Credicorp Ltd. (NYSE:BAP) delivered a -20.56% return in the past 3 months.
In August 2021, we published an article that includes Credicorp Ltd. (NYSE:BAP) in the 5 Best 52-Week Low Stocks to Buy Now. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.