ClearBridge SMID Cap Growth Strategy Portfolio Manager Commentary Q1 2019

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Includes: ATHN, BERY, BJ, BURL, CPRT, CVNA, GRUB, IMPV, LYV, MELI, NOW, PINC, ROLL, SBAC, SMMD, WIX, XPO
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.

Small and mid cap growth companies led a sharp rebound for equities in the first quarter which was supported by the Fed’s signal that interest rates will stay low for longer.

Solid results from companies across the portfolio, centered in stocks exposed to the consumer, drove returns.

We are unperturbed by the near-term noise around capital investments made by portfolio companies and remain confident in their long-term growth opportunities.