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Alger International Opportunities Fund Q3 2024 Commentary


Published on 2024-12-18 03:01:09 - Seeking Alpha
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  • Class A shares of the Alger International Opportunities Fund recorded a 5.62% net return for the third quarter of 2024. Click here to read the full commentary.

The Alger International Opportunities Fund's Q3 2024 commentary discusses the fund's performance and market conditions. The fund experienced a slight decline of -0.2% in the third quarter, underperforming the MSCI ACWI ex USA Index which rose by 0.7%. Despite this, the fund's year-to-date performance was positive at 10.2%, though it lagged behind the benchmark's 12.7%. Key contributors to the fund's performance included strong stock selection in the Industrials sector, particularly in Japan, and positive contributions from the Information Technology sector. However, the fund was negatively impacted by its exposure to the Financials sector and an overweight position in China, where economic recovery has been slower than anticipated. The commentary also highlights the fund's focus on companies with strong growth potential, innovation, and sustainable business models, with specific mention of investments in companies like ASML Holding N.V. and MercadoLibre, Inc. The outlook remains cautiously optimistic, with expectations of continued volatility but potential opportunities in sectors like technology and healthcare due to ongoing global trends.

Read the Full Seeking Alpha Article at:
[ https://seekingalpha.com/article/4744990-alger-international-opportunities-fund-q3-2024-commentary ]