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Loomis Sayles, an investment management company, released its “International Growth Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund returned 13.10% vs. 8.06% for the MSCI ACWI Ex USA Index (Net) in the quarter. Stock selection in consumer discretionary, information technology, financials, consumer staples, and communication services sector, as well as allocation s to the consumer discretionary and consumer staples sectors, all positively impacted the fund’s relative performance. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Loomis Sayles International Growth Fund highlighted stocks like Adyen N.V. (OTC:ADYEY), in the third quarter 2024 investor letter. Adyen N.V. (OTC:ADYEY) is a payment platform company headquartered in Amsterdam, the Netherlands. The one-month return of Adyen N.V. (OTC:ADYEY) was 2.86%, and its shares gained 16.20% of their value over the last 52 weeks. On December 26, 2024, Adyen N.V. (OTC:ADYEY) stock closed at $14.98 per share with a market capitalization of $47.04 billion.
Loomis Sayles International Growth Fund stated the following regarding Adyen N.V. (OTC:ADYEY) in its Q3 2024 investor letter:
"Adyen N.V. (OTC:ADYEY) is a global merchant acquisition and payment solutions provider based in Amsterdam. Surinamese for “to start over again,” the company was founded in 2006 by executives who previously founded Bibit, which was sold to Worldpay in 2004 and became the e-commerce platform for the world’s largest merchant acquisition company. Adyen was created to serve as a next-generation, integrated provider of payment solutions to merchants, and today the company supports over 250 payment methods globally across online, mobile, and point-of-sale (POS) transactions for clients that include Facebook, Microsoft, Netflix, and Uber.