ClearBridge Large Cap Value Strategy Portfolio Manager Commentary Q4 2018

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Includes: AMT, BTI, C, CMCSA, DIS, DISH, FCX, FOX, HAL, JPM, MKC, MRK, SCHW, SKYAY, SLB, SU, UTX
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.

Equities declined sharply in the fourth quarter. The decline was broad based, with only the defensive utilities sector generating a positive return.

As the market selloff continued, we were able to deploy cash toward attractive investment opportunities. There is no change to our disciplined investment approach that focuses on competitively well-positioned companies with strong business franchises capable of generating superior returns across cycles.

The ClearBridge Large Cap Value Strategy outperformed its Russell 1000 Value Index benchmark during the fourth quarter.

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