MSCI (MSCI) Posted Solid Growth Despite a Tough Industry Environment
Baron Funds, an investment management company, released its “Baron Partners Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. Despite the market volatility, the fund performed well and returned 23.41% in the first quarter, which exceeds the Russell Midcap Growth Index’s 9.14% return and the S&P 500 Index’s 7.50% return in the same period. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Partners Fund highlighted stocks like MSCI Inc. (NYSE:MSCI) in the first quarter 2023 investor letter. Headquartered in New York, New York, MSCI Inc. (NYSE:MSCI) is an investment decision support tools provider for clients. On May 23, 2023, MSCI Inc. (NYSE:MSCI) stock closed at $460.10 per share. One-month return of MSCI Inc. (NYSE:MSCI) was -2.35%, and its shares gained 10.97% of their value over the last 52 weeks. MSCI Inc. (NYSE:MSCI) has a market capitalization of $36.837 billion.
Baron Partners Fund made the following comment about MSCI Inc. (NYSE:MSCI) in its Q1 2023 investor letter:
"While Tesla was the largest holding, gainer, and contributor in the period, other large positions representing diverse business categories performed well. Real/Irreplaceable Asset Hyatt Hotels Corporation, Financials holding MSCI Inc. (NYSE:MSCI), and Core Growth company IDEXX Laboratories, Inc. are all top holdings in the Fund, and each appreciated by more than 20%. Despite tough macroeconomic factors, each of these companies increased prices for their highly demanded or integral products without experiencing a decline in demand. Despite a tough financial industry backdrop that resulted in fewer net new subscriptions, MSCI had solid organic growth and increased prices for its valuable services. We believe the company can continue to show meaningful and consistent growth in its core public equity index business. We believe the company can also become a vital part of investment departments’ risk and analytics, private markets, and climate initiatives."
Investments, Finance
MSCI Inc. (NYSE:MSCI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 50 hedge fund portfolios held MSCI Inc. (NYSE:MSCI) at the end of first quarter 2023 which was 50 in the previous quarter.
We discussed MSCI Inc. (NYSE:MSCI) in another article and shared Aristotle Atlantic Partners' views on the company. 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.