ClearBridge SMID Cap Growth Strategy Portfolio Manager Commentary Q4 2018

Feb. 06, 2019 8:20 AM ETMPWR, RP, ROLL, BE, IDTI, IMPV, DATA, FIVN, BURL, ATHN-OLD, JTKWY, SIVB, XPO, CVNA, FTNT, AMG, IIVI, FET

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.
  • During the quarter, the Russell 2000 Index declined 20.20%, while small and mid cap (SMID) growth stocks in the benchmark Russell 2500 Growth Index declined 20.08%. By comparison larger cap stocks (Russell 1000 Index) declined a more modest but still substantial 13.82%.
  • The SMID Cap Growth Strategy was not immune from the selling pressure, particularly in the financials and industrials sectors. However, the Strategy outperformed its Russell 2500 Growth Index benchmark during the fourth quarter.
  • Selling pressure in IT enabled us to diversify our exposure in the information technology and industrials sectors.

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

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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. We convey these ideas to investors on a frequent basis through investment commentaries and thought leadership and look forward to sharing the latest insights from our white papers, blog posts as well as videos and podcasts.
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