In the second quarter of 2025, the Macquarie Global Growth Fund’s Institutional Class shares showcased a commendable performance, achieving positive returns and outperforming its designated benchmark, the MSCI ACWI (All Country World Index) Index (net). This period was characterized by notable contributions from specific holdings within the portfolio, signaling the fund's effective strategy amidst evolving market conditions.
The financial landscape during the second quarter of 2025 experienced a significant uplift. Global markets, as represented by the MSCI ACWI Index (gross), registered an impressive 11.7% return. Following an initial phase of volatility in April, largely influenced by U.S. trade tensions, the markets staged a robust recovery. This resurgence occurred even as new geopolitical uncertainties emerged, underscoring the resilience of global equities.
Among the individual stock holdings that significantly bolstered the fund's performance, Howmet Aerospace Inc., KB Financial Group Inc., and SK Hynix Inc. stood out as the strongest positive contributors. Their strong performances were instrumental in driving the fund's overall gains and its ability to surpass the benchmark. Conversely, NTPC Ltd., UnitedHealth Group Inc., and Aon plc were identified as the primary detractors from the fund's performance during this quarter.
This period's success for the Macquarie Global Growth Fund underscores the importance of strategic asset allocation and rigorous stock selection in navigating complex market environments. Despite prevailing global uncertainties, the fund's ability to capitalize on specific growth opportunities enabled it to deliver superior returns for its investors.