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Institutional Investor Advisor Individual Investor
Total AUM Avg. PM Years Experience Years Since Inception
$91.9M 29 9
As of June 30 2021

Strategy Average Annual Total Returns

(%, Gross of Fees)2
YTD 1 Year 3 Years 5 Years 7 Years Since Inception
ClearBridge Global Growth Composite 5.09 33.69 19.48 20.22 14.08 15.71
MSCI AC World (Net) (USD) Index 12.30 39.26 14.57 14.61 9.75 11.89
As of June 30 2021

Overview

The Global Growth Strategy takes a diversified approach in search of mispriced growth companies across market capitalizations in global developed and emerging markets.

Strategy Overview Growth-oriented strategy offering exposure to U.S. and non-U.S. markets
Benchmark MSCI AC World (Net) (USD) Index
Total Strategy AUM $91.9M
Holdings Range 60-1001
Objective Long-term growth of capital while seeking to outperform the benchmark over a full market cycle3

Investment Philosophy

Investing in high-quality businesses with sustainable growth characteristics, when they are trading at a discount, will deliver superior returns over time.

Meet Our Managers

Elisa Mazen

Head of Global Growth, Portfolio Manager
36 Years experience
13 Years at ClearBridge

Thor Olsson

Portfolio Manager
24 Years experience
21 Years at ClearBridge

Michael Testorf, CFA

Portfolio Manager
34 Years experience
6 Years at ClearBridge

Pawel Wroblewski, CFA

Portfolio Manager
25 Years experience
13 Years at ClearBridge

Strategy Facts

The Strategy promotes diversification by targeting stocks at three different stages of their growth lifecycle: emerging, secular and structural growth companies.

Bottom-up global approach leads to significant differences in regional weightings compared to the benchmark.

The team of four portfolio managers brings a long tenure of global investment experience.

Literature & Perspectives

  • Technology Makes a Comeback
    Global Growth 2Q21: Recent Strategy performance has been broad-based, led by secular growth companies as well as rebounding emerging growth names.
  • Looking Past Recent Value Rotation
    Global Growth 1Q21: The long-term dynamics for growth companies remain compelling due to more attractive valuations in some regions and their key role in enabling digitalization.
  • Global Recovery Creates Cyclical Opportunities
    Global Growth Strategy 4Q20: Given strong performance through the year, we took the opportunity to trim more fully priced ideas and increase exposure to a recovering global economy.
  • AssetTV Global Market Outlook for 2021
    Portfolio Managers Margaret Vitrano, Michael Testorf and Mike Clarfeld share their views on large cap growth, international growth and dividend-paying stocks in the year ahead.
  • Rebalancing U.S. Exposure to Support Global Growth
    Global Growth 3Q20: With the U.S. continuing to dominate the benchmark and as the home to many leading growth companies, we have been increasing our U.S. exposure.

Investment Process

  • Generate ideas leveraging a proprietary factor model and the firm’s global research platform
  • Conduct detailed fundamental industry and company research, focusing on investment thesis, valuation, risk assessment, and ESG factors
  • Construct and monitor portfolio, guided by price, level of conviction and attention to risk management

Performance

A focus on mispriced growth stocks has led to above-average long-term results.

Average Annual Total Returns (%, Gross of Fees)2

YTD 1 Year 3 Years 5 Years 7 Years Since Inception
ClearBridge Global Growth Composite 5.09 33.69 19.48 20.22 14.08 15.71
MSCI AC World (Net) (USD) Index 12.30 39.26 14.57 14.61 9.75 11.89

Characteristics

The Strategy’s sector weights reflect its high active share approach to stock selection.

Sector Weights1,2

Representative Portfolio MSCI AC World (Net) (USD) Index
Information Technology 25.30 21.89
Industrials 16.64 9.86
Consumer Discretionary 12.73 12.75
Health Care 11.40 11.57
Communication Services 10.41 9.41
Financials 9.08 14.09
Consumer Staples 8.22 6.85
Materials 3.89 4.92
Utilities 1.12 2.63
Energy 0.00 3.40
Real Estate 0.00 2.62
Cash 1.21 0.00
Portfolio Characteristics1,2
Characteristics Representative Portfolio MSCI AC World (Net) (USD) Index
P/E Ratio (trailing 12 mos.) 31.4 22.4
P/E Ratio (forward 12 mos.) 30.2 19.0
Price/Book 8.1 6.2
EPS Growth Next 3-5 Years (%) 23.4 17.0
Weighted Median Market Cap ($ bn) 74.6 86.4
Weighted Average Market Cap ($ bn) 346.1 330.8
ROE 14.2 15.6
Dividend Yield 0.8 1.7
Turnover (trailing 12 mos.) 54.3 --
Risk Statistics1
7 Year Risk Statistics Composite MSCI AC World (Net) (USD) Index
Annualized Returns (7 Years) 14.08 9.75
Standard Deviation (%) 14.21 14.02
Sharpe Ratio 0.94 0.68
Tracking Error (%) 4.20 --
R2 0.91 --
Alpha (%) 4.32 --
Beta 0.97 --
Top 10 Holdings1
Characteristics % of Total Representative Portfolio
Microsoft Corp 3.94
Apple Inc 3.54
Amazon.com Inc 2.82
Alphabet Inc 2.33
T-Mobile US Inc 2.11
Union Pacific Corp 2.06
Nestle SA 2.01
Procter & Gamble Co/The 1.98
salesforce.com Inc 1.83
United Parcel Service Inc 1.78
Total 24.40
Total Number of Holdings 74
  • 1

    Source: FactSet. Representative portfolio characteristics, holdings, sector weightings and market cap are based on a representative portfolio and are subject to change at any time. Holdings, sector weightings, market cap and portfolio characteristics of individual client portfolios may differ, sometimes significantly, from those shown. This information does not constitute, and should not be construed as, investment advice or recommendations with respect to the securities and sectors listed.

  • 2

    Past performance is no guarantee of future results. See GIPS endnotes. Performance is preliminary and subject to change.

  • 3

    There is no guarantee that the Strategy's objective will be met.

  • ClearBridge Investments, LLC claims compliance with the Global Investment Performance Standards (GIPS®). ClearBridge Investments, LLC ("ClearBridge") is a wholly owned subsidiary of Legg Mason, Inc. ("Legg Mason"). The investment advisory business now known as ClearBridge was registered in September 2005 to facilitate Legg Mason's acquisition of substantially all the equity asset management businesses known as Citigroup Asset Management. These former businesses serve as the foundation of ClearBridge and its claim of GIPS compliance for institutional accounts through predecessor firms, effective as of January 1997. In June 2008, ClearBridge combined this business with its retail business to form a single GIPS firm. As of April 1, 2013, January 1, 2016 and May 1, 2020, ClearBridge affiliates, Global Currents Investment Management, LLC, ClearBridge, LLC and ClearBridge Investments Limited (f/k/a RARE Infrastructure Limited) have become part of the ClearBridge GIPS firm. In July 2020 Legg Mason, Inc. was purchased by Franklin Resources Inc. The ClearBridge Global Growth Composite invests in common stocks of U.S. and non-U.S. companies that, in the portfolio manager's opinion, appear to offer above average growth potential and trade at a significant discount to the portfolio manager's assessment of their intrinsic value. Intrinsic value, according to the portfolio manager, is the value of the company measured, to different extents depending on the type of company, on factors such as, but not limited to, the discounted value of its projected future free cash flows, the company's ability to earn returns on capital in excess of its cost of capital, private market values of similar companies and the costs to replicate the business. Results calculated in U.S. dollars. The MSCI ® All Country World Index (ACWI) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets net of reinvested dividend withholding taxes. The MSCI ACWI consists of various country i ndices comprising both developed and emerging markets.To receive a complete list and description of ClearBridge composites and/or a presentation that adheres to the GIPS standards, please contact ClearBridge Institutional Marketing.