Fiduciary Management Inc. (FMI), a distinguished investment management firm, recently disclosed the results of its Focused Global Equity portfolios for the second quarter of 2024. The firm's consistent application of a value-oriented investment strategy, characterized by a meticulous examination of business fundamentals and management efficacy, continues to yield compelling returns. This report underscores FMI's steadfast dedication to long-term investing, typically holding assets for three to five years, maintaining an average portfolio turnover between 20% and 40% annually.
Fiduciary Management Inc. Reports Strong Q2 2024 Global Equity Performance and Strategic Investment
In a significant announcement from Milwaukee, Wisconsin, Fiduciary Management Inc. has reported an impressive performance for its Focused Global Equity portfolios in the second quarter of 2024. The quarter saw the portfolio achieve a gross return of 6.60%, contributing to a year-to-date return of 2.01%. Over longer horizons, the portfolio has demonstrated sustained strength, with 1-year returns at 5.17%, 3-year returns at 13.09%, 5-year returns at 13.52%, and a remarkable 10.41% over a decade. Since its inception, the portfolio has generated an annualized return of 10.52%.
A notable strategic move during this period was the acquisition of a substantial 5.0% position in Ashtead Group within the Focused Global portfolios. This investment aligns perfectly with FMI's core philosophy of adopting a 'business owner's' perspective, delving deep into the economic underpinnings of target companies and assessing the caliber of their leadership. The firm's approach emphasizes rigorous fundamental research, aiming to identify companies with strong, sustainable business models and competent, trustworthy management teams capable of navigating complex market dynamics.
This proactive investment in Ashtead Group reflects FMI's confidence in the company's long-term prospects and its fit within a concentrated global equity strategy. Fiduciary Management Inc., established in 1980, currently manages approximately $16.1 billion in assets under advisement, with $15.8 billion in assets under management as of March 31, 2024.
From a journalist's vantage point, FMI's consistent performance and disciplined investment strategy offer valuable lessons. In a volatile market landscape, their commitment to in-depth research and a long-term outlook stands out. The strategic acquisition of Ashtead Group highlights the importance of identifying robust businesses with strong management, rather than succumbing to short-term market fluctuations. This approach not only generates impressive returns but also provides a sense of stability and foresight, which is increasingly rare and commendable in today's fast-paced financial world.