Published on 13 Sep 2023 on Insider Monkey via Yahoo Finance
Multiple Reasons for the Positive Performance of Credicorp Ltd. (BAP)
Ariel Investments, an investment management company, released its “Ariel Global Fund” second-quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the Ariel Global fund traded +3.32% higher, trailing the +6.18% return of the MSCI ACWI Index and outperforming the MSCI ACWI Value Index’s +2.98% gain. The fund’s lack of exposure to Materials and Energy was the greatest source of positive attribution in the quarter, while Communication Services holdings and choices within Information Technology detracted. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Ariel Global Fund highlighted stocks like Credicorp Ltd. (NYSE:BAP) in the second quarter 2023 investor letter. Headquartered in Lima, Peru, Credicorp Ltd. (NYSE:BAP) offers financial, insurance, and health services and products. On September 12, 2023, Credicorp Ltd. (NYSE:BAP) stock closed at $137.28 per share. One-month return of Credicorp Ltd. (NYSE:BAP) was -3.68%, and its shares gained 7.90% of their value over the last 52 weeks. Credicorp Ltd. (NYSE:BAP) has a market capitalization of $10.918 billion.
Ariel Global Fund made the following comment about Credicorp Ltd. (NYSE:BAP) in its Q2 2023 investor letter: