ClearBridge Large Cap Growth Fund Q4 2024 Commentary

Summary

• The fund carefully manages its mega-cap exposure to promote diversification, control risk and promote long-term consistency, making it difficult to keep pace in a market when the index is up 30%.
• The primary detractor during the quarter was the fund’s exposure to the underperforming health care sector.
• The fund and the Russell 1000 Growth Index are coming off two years of historically robust performance.

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Key Takeaways

• Markets: Despite inklings of a market broadening sparked by Donald Trump’s election victory and further interest-rate cuts from the Federal Reserve (Fed), the post-election rally proved short-lived. The benchmark Russell 1000 Growth Index jumped 7.07% for the