CNQ:CC - ClearBridge Canadian Dividend Strategy Q1 2024 Portfolio Manager Commentary
2024-04-17 09:00:00 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.
- Equity market returns accelerated throughout the first quarter with particular strength in March helping to propel the S&P/TSX Composite TRI to new all-time highs.
- Volatility in oil and natural gas commodities was mirrored by volatility in the stocks, providing trading opportunities.
- We believe valuations of some equities are embedding uncomfortably high expectations for profitability in the year to come, and our bottom-up process and fundamental approach to valuation position us well in this environment.
By Ryan Crowther, CFA, & Les Stelmach, CFA
Market Overview
The S&P/TSX Composite Total Return Index returned 6.6% in the first quarter, building on the 11.8% return for full-year 2023. Equity market returns accelerated throughout the first quarter, with particular strength in March helping to propel the S&P/TSX Composite TRI to new all-time highs....
ClearBridge Canadian Dividend Strategy Q1 2024 Portfolio Manager Commentary