MSFT - ClearBridge Sustainability Leaders 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.
• Investors reacquainted themselves with several risks during the quarter, including higher interest rates, supply chain pressures on margins and policy legislative issues.
• Consistent with our fundamental approach that seeks balanced exposure to industries and the growth and value spectrum, performance was driven by companies from diverse sectors.
• Public equities are moving the needle on the four goals of COP26 and ClearBridge is spurring and guiding this activity through our role as large shareholder and trusted partner in advising on sustainable business practices.

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