MNDT - ClearBridge All Cap Growth Strategy Portfolio Manager Commentary Q4 2021

• 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.
• We were opportunistic in the face of recent market volatility, using pullbacks to initiate eight new positions as well as add to recently established ones.
• As liquidity is removed from the economy, we believe the Strategy is well-positioned for a return to normalized economic growth and equity returns where protecting capital through periods of volatility will be a significant contributor to performance.
• We remain committed to building a portfolio of our best growth ideas for the next three to five years and that is reflected in a dynamic level of trading activity.

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