IG Group Holdings Plc (LSE:IGG) in Ennismore European Smaller Companies Fund Q1 2023

Market Share Growth Amidst Weaker Trends

2 days ago

Summary

Issued a third-quarter update showing weaker year-on-year trends.
Cost the fund 46 basis points in March.
Expected to continue gaining market share despite current challenges.
Shares considered very cheap by fund managers.

In the Ennismore European Smaller Companies Fund 2023 Q1 letter, IG Group Holdings Plc (LSE:IGG, Financial) was discussed as a detractor from the fund's performance, costing 46 basis points in March. The company issued a third-quarter update that showed weaker year-on-year trends. Despite this, the fund managers expect IG Group to continue gaining market share and consider the shares to be very cheap, indicating potential for future growth.

"IG Group Holdings Plc cost the Fund 46bps after it issued a third quarter update which showed a weaker year-on-year trend than shown recently. This wasn't so surprising, and we still think the company will continue to take market share and the shares to be very cheap." — Ennismore Fund Management, Ennismore European Smaller Companies Fund, Q1 2023 Fund Letter

Read full letter at gurufocus Ennismore European Smaller Companies Fund 2023 Q1 page.

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