ClearBridge is a leading global asset manager committed to active management. Research-based stock selection guides our investment approach, with our strategies reflecting the highest-conviction ideas of our portfolio managers.
Diversification in attractively-priced companies with quality fundamentals across all sectors of the mid cap market is a key characteristic of the Strategy. The portfolio’s overweight to industrials and solid execution by a handful of companies across the sector were the primary drivers of performance during the third quarter.
Mid cap performance was led by the health care sector (+11.07% in the benchmark). The sector’s success was broad-based and reflects something of a catch-up trade. Information technology (+10.57%) continued to perform strongly in the quarter, while industrials (+9.51%) rebounded after a modest start to the year.