ClearBridge Investments, an investment management company, released its "ClearBridge Mid Cap Growth Strategy" third quarter 2024 investor letter.
The Q3 2024 investor letter from ClearBridge Investments' Mid Cap Growth Strategy discusses the fund's performance and market conditions. The strategy returned 1.75% for the quarter, underperforming the Russell Midcap Growth Index which returned 3.47%. Despite this, the fund's year-to-date performance was strong, with a 15.77% return compared to the index's 14.55%. Key contributors to the quarter's performance included investments in technology and health care sectors, with notable mentions of companies like CrowdStrike Holdings and DexCom. However, the fund faced challenges from holdings in consumer discretionary and financial sectors. The letter also highlights the fund's focus on companies with strong growth potential, innovation, and market leadership, while navigating a complex economic environment characterized by inflation, interest rate fluctuations, and geopolitical tensions. ClearBridge remains optimistic about the mid-cap growth space, emphasizing a long-term investment approach.
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