ABNB - ClearBridge Aggressive Growth Strategy Q1 2024 Portfolio Manager Commentary

2024-04-12 07:20:00 ET

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.
• The positive momentum of 2023 extended into the first quarter as increased likelihood of an economic soft landing combined with a relatively favorable monetary backdrop sent stocks broadly higher.
• Despite the growing chorus for a soft landing, equities still face an uncertain macro backdrop.
• Relative to the benchmark, overall stock selection detracted from performance.

By Evan Bauman & Aram Green

Consistently Targeting Mid Cap Plus Growth Opportunities - Market Overview

The positive momentum of 2023 extended into the first quarter as increased likelihood of an economic soft landing combined with a relatively favorable monetary backdrop sent stocks broadly higher. The S&P 500 Index ( SP500 , SPX ) advanced 10.56% for its best start since 2019, boosted by solid corporate earnings and continued enthusiasm for generative artificial intelligence ((AI)). After the market showed signs of broadening in the fourth quarter, mega cap growth stocks flexed their leadership yet again to start the year, with the Russell Top 200 Growth Index (11.70%) being the best-performing segment for the quarter....

For further details see: