ClearBridge International Growth Strategy Portfolio Manager Commentary Q2 2019

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Includes: BABA, NSZTY, NTDOY, SAP, SHOP, SQM, STNE, TME, TMNSF, UMICF
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.

More accommodative central banks and signs of progress in the U.S.-China trade dispute supported a continued rebound of international growth stocks.

We believe our portfolio companies and the equity markets we target can manage around the myriad geopolitical and global growth risks in the current environment.

We added to our allocation in secular growth companies while trimming exposure to companies in the emerging and structural growth buckets.