We have removed Legg Mason ClearBridge Aggressive Growth from our Recommended list.

This is a specialist, all-cap US equity fund that invests in companies that are deemed to have above average, defensible growth prospects.  Whilst seeking growth, the managers believe that the price paid is critical to the value creation for investors.  This, combined with a willingness to be contrarian, reinforces the fund’s idiosyncratic nature.

The managers’ stylised approach, together with the concentrated nature of the portfolio, means that the risk and return outcome follows a distinctive path.  Recent years have been difficult in performance terms and, whilst not entirely unexpected given the investment approach, it has been a challenging time for holders of the fund.

Following a period of consideration, we have concluded that the fund has limited appeal for our core client base and therefore, we have decided to remove it from our service.