PGIM Jennison Global Opportunities Fund Q4 2024 Commentary

2025-03-31 11:15:00 ET

Summary

• U.S. equities were mostly positive in Q4, driven by optimism over Trump's re-election and campaign promises, despite global market and emerging market underperformance.
• The PGIM Jennison Global Opportunities Fund outperformed the MSCI ACWI Index in 2024, with strong contributions from Communication Services and Information Technology sectors.
• New positions in Information Technology and Communication Services sectors, including Taiwan Semiconductor, Snowflake, and Reddit, were added, while ASML and L’Oreal were eliminated.
• The Fund remains anchored in profit growth and long-term opportunities, particularly in generative AI, despite economic uncertainties and potential tariff impacts from the new administration.

Market Review

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