Hartford International Growth Fund Q4 2024 Commentary

2025-03-30 08:27:00 ET

Summary

• The Hartford International Growth Fund (I Share) outperformed the MSCI ACWI ex USA Growth Net Index during the quarter.
• Prospects for a soft landing remained intact as markets navigated central-bank policy updates, heightened geopolitical risks, and political uncertainty.
• At the end of the period, our largest overweights were to information technology and consumer discretionary. We were most underweight to consumer staples and industrials.

Market Overview

Global equities rose in the fourth quarter. Prospects for a soft landing remained intact as markets navigated central-bank policy updates, heightened geopolitical risks, and political uncertainty. Global economic data remained largely resilient, accompanied by measured inflation and a general decline in policy rates. Germany’s government coalition collapsed, and Francois Bayrou was named the new prime minister of France after a no-confidence motion ousted PM Michel Barnier. Japan’s Liberal Democratic Party-led coalition lost its parliamentary majority in national elections. Geopolitical risks remained elevated as the Russia/Ukraine war raged on, the war in the Middle East reached its one-year mark, and President Bashar al-Assad’s regime collapsed after rebels captured the capital of Damascus....

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