ClearBridge Investments, an investment management company, released its “ClearBridge Mid Cap Strategy” third quarter 2024 investor letter. A copy of the letter can be downloaded here. Beginning in July, a significant shift away from large caps fueled a rebound and helped the Russell Midcap Index beat its peers with larger sizes. The Russell Midcap Index returned 9.21% in the quarter compared to a 6.08% gain of the large-cap Russell 1000 Index. During the quarter, the strategy underperformed its Russell Midcap Index. Detractors in the industrial and communication services sectors...
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