CIO Commentary
Thanks to a robust final quarter, the HS Management Partners Composite increased 17.1% in 2023. 2023 was a year of recovery, and the Composite is back within striking distance (4%) of portfolio values prior to 2022’s bear market. While absolute returns – our primary investment objective – were strong, relative returns fell short of the S&P 500’s 26.3% gain in 2023.
To read more, download the full Fourth Quarter 2023 Investment Perspective.