ClearBridge Global Growth Strategy Portfolio Manager Commentary Q4 2018

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Includes: AAPL, AMZN, ASOMF, BURBY, CMCSA, FB, GOOG, GOOGL, HDB, ICLR, IDEXY, INFO, KO, LRLCF, MRK, NFLX, NTDOY, PBR, PFE, PIAIF, RHHBY, SSDOF, SU, TCEHY, TREX, TSLA, TWTR, TXHPF, VZ, WP
by: ClearBridge Investments
Summary

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.

Concerns about slowing global growth, tightening liquidity conditions and political rhetoric escalated through the final three months of 2018, driving global markets to sharp losses for the quarter and the year.

As volatility has risen, investors have continued to sell out of emerging market and European-focused strategies in favor of the perceived safety of the U.S.

Despite a difficult performance environment, the fourth-quarter correction did offer opportunities to purchase quality growers at a discount. We increased the portfolio’s exposure to secular growth stocks, companies with a consistent record of earnings and cash flow growth.

The ClearBridge Global Growth Strategy underperformed the benchmark MSCI All Country World Index for the fourth quarter but outperformed for the year and longer time periods.

Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.