Here’s How SAP SE (SAP) is Navigating AI Challenges
Here’s How SAP SE (SAP) is Navigating AI Challenges Soumya Eswaran Tue, June 23, 2026 at 5:53 AM PDT 3 min read SAP Aoris Investment Management, a specialist international equity manager, released its Q1 2026 investor letter for Aoris International Fund . A copy of the letter is available to download here . The fund invests in high-quality, wealth-generating businesses managed by prudent and capable teams, targeting an annual return of 8 12% after fees over a 5 7-year market cycle. During the March quarter, international equity markets, as represented by the MSCI AC World Accumulation Index ex Australia, decreased by 5.8% in AUD terms. In local currencies, the decline was 2.8%. The Portfolio’s Class A (Unhedged) returned -13.7% after fees, underperforming its benchmark by 7.8%, while the Class C (Hedged) dropped 10.1%, 7.3% less than its benchmark. These results marked significant negative returns overall and against the benchmark. Investor concerns grew in the quarter, especially reg...