Polen Capital, an investment management firm, published its “Polen U.S. SMID Company Growth Fund” third quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly net return of 1.42% was delivered by the fund for the third quarter of 2021, outperforming its Russell 2500 Growth benchmark that delivered a -3.53% return for the same period.
U.S. SMID Company Growth Fund, in its Q3 2021 investor letter, mentioned Farfetch Limited (NYSE: FTCH) and discussed its stance on the firm. Farfetch Limited is a London, United Kingdom-based online luxury fashion retail company with a $12.9 billion market capitalization. FTCH delivered a -42.13% return since the beginning of the year, while its 12-month returns are down by -31.05%. The stock closed at $36.93 per share on November 23, 2021.
Here is what U.S. SMID Company Growth Fund has to say about Farfetch Limited in its Q3 2021 investor letter:
"Farfetch, an e-commerce luxury retailer, traded down during the quarter despite beating earnings expectations. We continue to believe Farfetch is well-positioned to capitalize on growth in ecommerce luxury retail because of its scale and carefully cultivated partnerships with leading luxury brands. We added to our position."
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Based on our calculations, Farfetch Limited (NYSE: FTCH) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. FTCH was in 51 hedge fund portfolios at the end of the third quarter of 2021, compared to 63 funds in the previous quarter. Farfetch Limited (NYSE: FTCH) delivered a -13.65% return in the past 3 months.
Disclosure: None. This article is originally published at Insider Monkey.