2024-08-09 06:40:00 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.
- Mid cap growth stocks declined in the second quarter, as economic deceleration and the prospect of a higher-for-longer interest rate environment weighed on growth stocks.
- The Strategy underperformed its benchmark as detractors in the industrials and IT sectors overshadowed positive contributions from our consumer staples holdings.
- Rather than chase near-term winners, we continue to follow our philosophy of investing in companies with great business models, strong growth prospects and stellar balance sheets.
By Brian Angerame | Jeffrey Bailin, CFA | Aram Green | Matthew Lilling, CFA
Deceleration Creates Headwinds for Growth - Market Overview
The second quarter proved a challenging one for the mid cap market, as investors continued to narrow their focus on a small handful of AI, bitcoin and other "big picture" stocks, while economic deceleration and a higher-for-longer interest rate outlook weighed on the rest. The result was a broad retreat, with the benchmark Russell Midcap Growth Index returning -3.21%, slightly ahead of the Russell Midcap and Russell Mid Cap Value Indexes, which returned -3.35% and -3.40%, respectively....
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For further details see:
ClearBridge Mid Cap Growth Strategy Q2 2024 Commentary
