Overview
All Cap Value investment portfolios, headed by John Goode and Peter Hable, focus on large-, medium- and small-company stocks. The lead senior portfolio managers have spent their entire careers with ClearBridge Advisors and its predecessor firms.
Investment Objective
The All Cap Value strategy seeks to:
- achieve growth of capital by investing in stocks of varying capitalizations which offer long-term investment value; and
- deliver above-average returns while also providing downside protection.
Investment Philosophy
We believe that:
- Investing in large-, mid- and small-cap stocks, whose
market prices are attractive in relation to their underlying
fundamentals, reduces risk through diversification1 and
provides potential for long-term capital appreciation.
Key Differentiators
- Portfolio managers may decide to invest portfolios gradually or all at once based on market conditions, valuations and/or other factors they consider to be relevant
- Strong emphasis on technical and fundamental analysis of securities to identify ideal prices at which to invest
Portfolio Positioning
- Designed for investors seeking a value portfolio, with the ability to invest in all market capitalizations
- A core value portfolio
- Offers a long-term buy-and-hold strategy, which may reduce portfolio turnover2
Investment Process
We seek to:
- Define the investment universe
- identify quality equity investments in different categories, which may include common stocks in the Russell 3000 Value Index3, and to a lesser extent, ETFs4 and ADRs
- Evaluate stocks using proprietary discipline;
- emphasize market and industry themes and trends
- stress long-term value in analyzing quantitative, fundamental and technical factors
- Apply fundamental analysis to select securities
- emphasize companies with healthy balance sheets selling at or near book value and at prices that do not accurately reflect cash flows, tangible assets or management skills;
- Construct a diversified portfolio;
- build a portfolio of best ideas with target allocations of approximately 60% large-, 20% medium-sized- and 20% small-company stock5 ; and
- Review holdings continuously
- re-examine a current holding when fundamentals or technical factors deteriorate, full growth potential is reached, or there is unusual insider buying/selling.
Investment Risks
All investments involve risk, including loss of principal and there is no guarantee that investment objectives will be met.
Investments may be made in small- and mid-cap companies, which involve a higher degree of risk and volatility than investments in large-cap companies.
Investments may also be made in ADRs and other securities of non-U.S. companies in developed and emerging markets which involve risks in addition to those ordinarily associated with investing in domestic securities, including the potentially negative effects of currency fluctuation, political and economic developments, foreign taxation and differences in auditing and other financial standards. These risks are magnified in emerging markets.
The managers may sometimes hold significant portion of portfolio assets in cash equivalents while waiting for buying opportunities.
Investments may include ETFs representing U.S. securities markets, industry and market capitalization sectors, non-U.S. country and regional markets, and other types of non-U.S. markets and sectors. In addition, a client will bear a proportionate share of the separate fees and expensed incurred by any ETF in which the clients' account is invested.
Management Team
Established in 2005, ClearBridge Advisors has over 45 years of asset management experience. The firm is known for its research-driven, fundamental approach to investing, offering actively managed U.S. equity products in a wide range of capitalizations and styles.
Investment Management
John Goode
Managing Director
- Senior Portfolio Manager
- 43 years of investment industry experience
Peter Hable
Managing Director
- Senior Portfolio Manager
- 29 years of investment industry experience