The Saratoga International Equity Fund posted solid outperformance for 1Q19. The stock market rally that started in late December 2018 continued its torrid pace during the first quarter of 2019 with global equity markets recording their largest advance in seven years. Every economic sector posted positive gains, led by mega-cap companies in the Information Technology sector.
Within the Saratoga International Equity Portfolio, on a sector basis, Information Technology and Real Estate holdings were the best performers on an absolute basis. Consumer Staples was the best benchmark relative performer; all portfolio holdings in the sector outpaced the benchmark. Consumer Discretionary and Communication Services companies were the worst performers on an absolute and relative basis. On a geographic region basis, the portfolio had favorable stock selection across six of seven regions. Emerging Asia was the top performing region on an absolute and relative basis. Five of the seven holdings in the region were positive relative contributors. Emerging EMEA (Europe, Middle East and Africa) was the worst performing sector, though the portfolio held only two positions in the region. The portfolio’s largest sector allocation on an absolute basis is to Financials, while Health Care is the largest relative overweight sector. From a regional standpoint, Developed Europe is the largest absolute allocation, while Developed Asia is the largest relative overweight.___________________________
Information contained herein was obtained from recognized statistical services and other sources believed to be reliable and we therefore cannot make any representation as to its completeness or accuracy. Any statements not of a factual nature constitute opinions which are subject to change without notice.
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