Ambitious capital spending on generative AI projects by hyperscalers, which we view as a once-in-a-decade cycle, represents a meaningful tailwind for technology infrastructure providers supplying the picks and shovels to run large language models.
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Anatomy of a Recession
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Infrastructure Insights
Infrastructure in the Rapidly Changing Policy Landscape
Accelerating policy-driven investment and AI-driven data centre growth are unlocking a multi-decade growth opportunity for listed utilities globally.
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Anatomy of a Recession
The Long View: Bubble or Boom?
Whether a stock market bubble is forming has become a key debate for investors. We believe a boom may be ahead, driven by a favourable policy mix and a healthy consumer supporting earnings growth.
Infrastructure Insights
Portfolio Insights
Data Centre Tailwinds Drive Steady Infrastructure Gains
Q3 2025 Global Infrastructure Income Strategy Commentary
U.S. utilities, renewables and North American natural gas and pipelines performed well, benefiting from elevated demand for power to support AI-focused data centres.
Infrastructure Insights
Portfolio Insights
AI, Reshoring Drive Power Demand
Q3 2025 Global Infrastructure Value Strategy Commentary
Reshoring and AI-focused data centres are requiring significant buildout of energy infrastructure, in particular for U.S. electric and gas utilities.
Australian Equity Insights
Consistent Alpha Through Fundamental "Active Insights"
The ClearBridge Australian Equity Investment team believe an active fundamental solution can offer significant risk-adjusted value-add relative to a traditional passive or systematic approach.
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Anatomy of a Recession
Does the Buck Stop Here?
What to Make of Recent U.S. Dollar Weakness
Whether a recent fall for the U.S. dollar portends a regime shift toward systematic weakness has key ramifications for global equity leadership.
Australian Equity Insights
Webinars
Webinar: Australian Equities Reporting Season Wrap
Expectations vs Impact: Will earnings get rewarded or punished this season? Reece Birtles, Head of Australian Equities and Portfolio Manager, presents his key takeaways from Australia's bi-annual reporting season.
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Anatomy of a Recession
AOR Update: U.S. Labor Market Bending, Not Broken
The U.S. labor market is in heightened focus as a sharp drop in immigration has contributed to slower but also lower churn employment growth, increasing the likelihood of modest interest rate cuts.
Anatomy of a Recession
AOR Update: Clarity Coming Into View
With clarity on tariffs emerging, a major source of macro and market uncertainty is waning. Combined with a tax and fiscal boost from new legislation, corporate animal spirits are poised to pick up.
Global Equity Insights
Market Outlook
Midyear U.S. Equity Outlook: Looking Toward 2026 for Upside
While we are neutral on stocks near-term due to tariff uncertainty and valuations, multiple catalysts could drive an earnings acceleration in 2026 as current risks dissipate.
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Anatomy of a Recession
The Long View: Push-Pull
Positive forces from One Big Beautiful Bill Act passage and future interest rate cuts should soon outweigh negative forces of tariff actions.
Global Equity Insights
Portfolio Insights
Global Improvers At Heart of Converging Trends
Q2 2025 Global Value Improvers Strategy Commentary
A weakening U.S. dollar and a repatriation of capital from the U.S. by overseas investors bolstered strong performance in international industrials and IT sectors.