ClearBridge Investments, an investment management company, released its “ClearBridge Select Strategy” first quarter 2024 investor letter. The positive momentum in 2023 continued in the first quarter of 2024, the stocks surged on the expectation of a soft landing of the economy and a slowdown in rate hikes by the Fed. Against this backdrop, the S&P Index surged 10.56% and the Russell 3000 Index gained 10.02%. The strategy underperformed its Russell 3000 Index benchmark in the quarter. IT and industrial sectors were the primary contributors while the real estate sector detracted. In...
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