ClearBridge Global Growth Strategy Portfolio Manager Commentary Q2 2019

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Includes: ALB, BLUE, BUD, DIS, KAOCF, LVMHF, MSFT, NKE, NTDOY, PXD, QCOM, STNE, TME, TSYHY, UBER, UMICF, VACNY, WORK
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 progressin the U.S.-China trade dispute supported a continued rebound of global growth stocks.

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

We increased our U.S. equity exposure through the purchase of several newly public companies, although we remain underweight the region.