MSCI (MSCI, Financial) was a notable contributor to the Baron FinTech Fund's performance in Q1 2023. The company, a leading provider of investment decision support tools, reported resilient fourth-quarter earnings and offered a cautiously optimistic outlook for the year. MSCI benefited from improved performance in global equity markets, which positively impacted its asset-based fee revenue. The fund retains conviction in MSCI due to its strong "all weather" franchises and numerous secular tailwinds in the investment industry.
"Shares of MSCI Inc., a leading provider of investment decision support tools, contributed to performance. The company reported resilient fourth-quarter earnings results and gave a cautiously optimistic outlook for 2023. MSCI also benefited from improved performance in the global equity markets in the quarter, which most directly impacts MSCI’s asset-based fee revenue. We retain conviction as MSCI owns strong 'all weather' franchises and should benefit from numerous secular tailwinds in the investment industry." — Baron FinTech Fund, Q1 2023 Fund Letter
Read full letter at gurufocus Baron FinTech Fund 2023 Q1 page.
