ClearBridge Global Growth Strategy Portfolio Manager Commentary Q1 2019

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Includes: AAIGF, ACWI, AMZN, AZPN, BABA, EQIX, GWRE, HNSBF, ICLR, JNJ, KYCCF, LVMHF, MONOY, MSFT, MTD, NOW, NVS, PFE, RTOKY, SHOP, SNMSF, SSDOY, TME, TSLA, TSM, 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.

Stimulative economic policies and a bounce back of growth stocks from oversold positions drove strong performance for the market and the portfolio.

We took advantage of performance gains to take profits and reposition the portfolio across the three types of growth companies we target.

We believe the resolution of global trade issues and continued consumer strength across the U.S., Chinese and European markets should support growth stocks going forward.