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November 30, 2025
Large Cap Growth Monthly Update

Large Cap Growth November 2025: Technology stocks led a growth selloff in a month that saw sentiment turn decidedly negative over the near-term payoff from AI spending as well as future funding concerns.

November 30, 2025
Emerging Markets Monthly Update

November 2025: Brazil was a primary driver of performance and positioning in a month marked by AI headwinds in Asian markets.

October 31, 2025
Emerging Markets Monthly Update

Emerging Markets October 2025 Commentary: The Strategy’s technology exposure in Asia drove outperformance in a month where AI momentum continued to support emerging markets.

September 30, 2025
Leaning on Financials Amid Cyclical Leadership

International Growth ADR 3Q25:We meaningfully repositioned our bank exposure, adding three new positions while closing out of two others, highlighting an energetic period of activity.

September 30, 2025
Diversifying to Lower Downside Risk

Dividend Strategy 3Q25: Amid complacency in the face of historically high valuations, we continue to emphasize companies committed to meaningful dividend growth trading at more modest valuations.

September 30, 2025
Finding Disciplined Gains Amid Speculation

Small Cap 3Q25: The dominance of speculative winners and the narrowness of leadership made it difficult for fundamental strategies to keep pace.

September 30, 2025
Cyclical Strength Sparks Canadian Rally

Canadian Equity Strategy 3Q25: The Strategy delivered solid returns but underperformed the benchmark due to an underweight to strong-performing gold stocks and general weakness in materials and energy.

September 30, 2025
Improvers Positioned Where Energy and Efficiency Converge

Global Value Improvers 3Q25: Global equities advanced on tariff clarity and easing policy uncertainty, while the Strategy maintained its focus on undervalued companies with structural growth drivers.

September 30, 2025
Discipline Key to Adding AI Growth Ideas

Large Cap Growth ESG 3Q25:While acknowledging both the euphoria among so-called winners and gloom around so-called losers, we are not chasing momentum but adding new AI-indexed growth ideas in a disciplined way.

September 30, 2025
Backdrop for Risk Assets Is Positive

Appreciation ESG 3Q25: The backdrop for stocks remains constructive, although speculative risks are building alongside untenable valuations.

Blogs

AOR Update: Is AI a Clear and Present Danger?
The ClearBridge Recession Risk Dashboard remains firmly in green expansionary territory; despite AI labor fears, supportive fiscal and monetary policy should power the U.S. economy and corporate earnings in 2026.
Infrastructure Outlook: AI, Decarbonization and Policy Tailwinds in 2026
Structural tailwinds like decarbonization, network upgrades and climate-proofing, along with AI’s need for power, are fueling long-term capital expenditure cycles for infrastructure.
Emerging Markets Equity Outlook: Tides are Turning
Structural market drivers remain, with technology surging on strong earnings, China recovering and India offering long term opportunities.
Canadian Equity Outlook: Finding Opportunity Beyond the Headlines
We continue to find value in high-quality companies temporarily out of favor in areas including materials, energy and financials as well as select industrial and IT names.
Under the Radar: Why Now is the Time for Emerging Markets
Structural growth factors such as advancements in technology, compelling relative valuations as well as a stable U.S. dollar enhance the attractiveness of emerging markets.