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Institutional Investor Advisor Individual Investor
Total AUM Avg. PM Years Experience Years Since Inception
$8.2M 27 6
As of March 31 2019

Strategy Average Annual Total Returns

(%, Gross of Fees)2
YTD 1 Year 3 Years 5 Years Since Inception
ClearBridge Global Growth Composite 14.85 7.58 15.08 9.32 12.84
MSCI AC World (Net) (USD) Index 12.18 2.60 10.67 6.45 9.68
As of March 31 2019

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 $8.2M
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
33 Years experience
11 Years at ClearBridge

Thor Olsson

Portfolio Manager
22 Years experience
19 Years at ClearBridge

Michael Testorf, CFA

Portfolio Manager
32 Years experience
4 Years at ClearBridge

Pawel Wroblewski, CFA

Portfolio Manager
23 Years experience
11 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

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 Since Inception
ClearBridge Global Growth Composite 14.85 7.58 15.08 9.32 12.84
MSCI AC World (Net) (USD) Index 12.18 2.60 10.67 6.45 9.68

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 22.41 15.71
Financials 14.28 16.59
Consumer Discretionary 11.84 10.76
Industrials 11.82 10.44
Health Care 11.37 11.65
Communication Services 10.13 8.74
Consumer Staples 10.06 8.37
Materials 5.67 4.88
Real Estate 1.66 3.29
Energy 0.32 6.27
Utilities 0.00 3.29
Cash 0.43 0.00
Portfolio Characteristics1,2
Characteristics Representative Portfolio MSCI AC World (Net) (USD) Index
P/E Ratio (trailing 12 mos.) 25.4 16.8
P/E Ratio (forward 12 mos.) 21.8 15.3
Price/Book 5.3 3.5
EPS Growth Next 3-5 Years (%) 12.5 10.7
Weighted Median Market Cap ($ bn) 64.8 55.2
Weighted Average Market Cap ($ bn) 152.5 146.7
ROE 20.0 17.6
Dividend Yield 1.4 2.5
Turnover (trailing 12 mos.) 59.6
Risk Statistics1
5 Year Risk Statistics Composite MSCI AC World (Net) (USD) Index
Annualized Returns (5 Years) 9.32 6.45
Standard Deviation (%) 12.32 11.06
Sharpe Ratio 0.73 0.56
Tracking Error (%) 3.78
R2 0.91
Alpha (%) 2.48
Beta 1.06
Top 10 Holdings1
Characteristics % of Total Representative Portfolio
Microsoft Corp 2.68
salesforce.com Inc 2.50
AIA Group Ltd 2.20
Diageo PLC 2.16
LVMH Moet Hennessy Louis Vuitton SE 2.13
Shiseido Co Ltd 2.10
Apple Inc 2.09
Amazon.com Inc 2.09
Roche Holding AG 1.82
Alibaba Group Holding Ltd 1.71
Total 21.50
Total Number of Holdings 82
  • 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.

  • Annualized Returns

    1 Yr (12/31/18)

    3 Yrs (12/31/18)

    5 Yrs (12/31/18)

    Since Inception (12/31/18)

    Net of Fees

    -5.8% 8.4% 6.1% 10.2%

    Gross of Fees

    -5.1% 9.2% 6.9% 11.0%

    MSCI AC World (Net) (USD)

    -9.4% 6.6% 4.3% 8.1%
  • 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 and January 1, 2016, ClearBridge's affiliates, Global Currents Investment Management, LLC, and ClearBridge, LLC, respectively, have become part of the ClearBridge GIPS firm. 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.