THE DIFFERENCE IS CLEAR

A High-Conviction Developed Market Portfolio Seeking to Invest in Mispriced Foreign Growth Stocks

ClearBridge International Growth Fund—Class I (LMGNX)

Overall Morningstar Rating1 As of date of February 28, 2021

Rating Category: Foreign Large Growth

Morningstar
The fund’s overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics.

Historical Morningstar Rating As of date of February 28, 2021

YearsRatingsFunds
in Category
3
391
5
319
10
229

Active Matters in International Equities

Average Annual Total Returns (%) as of December 31, 20202

  • ClearBridge International Growth Fund Class I (LMGNX)
  • Peer Group 50th Percentile2
  • MSCI EAFE Index (Net)3

Class I shares are only offered to certain eligible investors. As stated in the prospectus, they are offered without sales charge. The fund offers multiple share classes, which are subject to different fees and expenses that will affect their performance. Please see the prospectus for details. Total returns, yields and ratings, unless otherwise noted, reflect any applicable expense reductions, without which the results would have been lower.

Performance data represents past performance, which does not guarantee future results. Current performance may differ from figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or loss when you sell your shares. See the most recent month-end returns .

ALSO AVAILABLE AS AN SMA: CLEARBRIDGE INTERNATIONAL GROWTH ADR PORTFOLIOS*

Learn More: Access the Pitchbook.

This strategy is also available as a Collective Investment Trust.

When it comes to international equities, we believe active management matters.

  • We believe international markets are less efficient because of the large opportunity set with low analyst coverage.
  • In the short term, markets tend to misprice companies outside the U.S., where regulation, governance and business conditions differ.
  • Mispricing and inefficiency create exploitable opportunities for active managers.

Diversification Across the Spectrum of Growth

ClearBridge uses a fundamental bottom-up approach to invest in quality businesses across the spectrum of growth. Fund managers look for secular and cyclical growth stories, with a smaller allocation to companies in a transformative stage. The fund employs a research process centered on valuation, high active share, and a long-term investment horizon.

Source: ClearBridge, Internal Target Range. For informational purposes only.

Sample holdings include:4 As of December 31, 2020

STRUCTURAL

Nintendo Co. Ltd. (3.18%)

Roche Holding AG (2.17%)

Atlas Copco AB (0.97%)

SECULAR

Nestle S. A. Sponsored ADR (3.29%)

London Stock Exchange Group Co. (3.05%)

Rentokil Initial PLC (1.58%)

EMERGING

Adyen (2.26%)

Shopify (2.09%)

Spotify Technology SA (1.60%)

ClearBridge International Growth Fund Class I (LMGNX) Average Annual Total Returns (%) as of December 31, 2020

1-yr3-yr5-Yr10-yrEXPENSES (%) GROSSNET
LMGNX 24.92 14.17 14.79 11.97 1.84% 1.84%
MSCI EAFE Index (Net)3 7.82 4.28 7.45 5.51

Performance data represents past performance, which does not guarantee future results.

Global investment manager with a 50+ year legacy as a leader in active management

  • Committed to authentic active management focusing on a sole core competency: equity investing
  • Robust fundamental research platform
  • 30-year history of ESG investing with a fully integrated approach
  • Culture of longevity, consistency and risk awareness
  • Highly experienced and long-tenured investment professionals

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