MPWR - ClearBridge Mid Cap Growth Strategy Portfolio Manager Commentary Q3 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.
• The Strategy delivered positive returns and outperformed the benchmark due to strength among our technology holdings, particularly in enterprise software.
• Our cohort of health care names demonstrated resilience as providers of key products and services to enable scientific breakthroughs in therapeutics and medical devices.
• The initial public offering market remained active with $27 billion in deals during the quarter, yet we maintained a selective approach in assessing new issues, participating in two IPOs.

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