Global Value Improvers Strategy

This Strategy invests in a diversified portfolio of listed companies across developed and emerging markets. It targets undervalued global equities that are actively improving their environmental, social, and governance (ESG) performance, either by transforming their own products and services or by enabling others to advance ESG objectives.

Why Invest in the Global Value Improvers Strategy

Key benefits of this Strategy include:

Targets companies which are both undervalued and underappreciated for their ESG progress, aligning financial returns with measurable ESG progress.

Value Approach

  • Low market expectations help reduce downside risk
  • Significant discount provides margin of safety

ESG Improvement

  • Identifies companies with catalysts for ESG change, before the market fully appreciates them
  • These improvements can unlock substantial value and drive portfolio appreciation

Rather than focusing on best-in-class ESG performers, the Strategy invests in companies actively improving their ESG profile. Companies are classified into three categories, each offering distinct ESG and valuation catalysts:
 

  • Enablers – Companies with products and services that help customers or industries further their ESG goals
  • Reformers – Historically ESG laggards that are transforming their sustainability profiles 
  • Promoters – Companies that are helping to further ESG initiatives via their own businesses

Traditional ESG strategies often concentrate in growth-style, best-in-class names, leading to crowded exposures and premium valuations. By targeting ESG improvers with value characteristics, the Strategy offers genuine diversification across sectors and ESG themes.

A disciplined stock selection supports strong performance in value-led markets. At the same time, exposure to high-quality ESG improvement stories, often long-term in nature, helps mitigate cyclicality and cushion downside volatility. This creates an asymmetrical return profile designed to deliver consistent performance through the cycle.

Portfolio Management Team

The ClearBridge Global Value Improvers Strategy is managed by an experienced investment committee comprising of the following members:

The Portfolio Management Team is employed by ClearBridge Investments, LLC.

Grace Su

Grace Su

Managing Director, Portfolio Manager
Jean Yu, CFA, PhD

Jean Yu, CFA, PhD

Managing Director, Portfolio Manager

What Makes Us Different

Managed by seasoned investors with deep experience in Value investing and uncovering mispriced opportunities across global markets.

This Strategy applies minimal exclusions to avoid unintended style, sector, or geographic biases. Instead of excluding companies with past ESG issues, we seek those on a credible path to improvement.

ESG analysis is forward-looking, identifying companies with the potential to improve rather than relying solely on historical data. This allows us to uncover opportunities that traditional ESG screens often miss.

A dual mandate underpins a structured and disciplined framework for building a concentrated, high-alpha generating portfolio.

ESG improvement is viewed as a source of alpha, not just a screen. The focus is on identifying ESG improvements that tie into revenue growth, margin improvement and ultimately, shareholder value over time.

Key Portfolio Information

Growth of AUD $10,000

31 March 2026
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As at 31 March 2026

Performance 1 Month 3 Months 1 Year 3 Years 5 Years Inception2
ClearBridge Global Value Improvers Strategy1 -3.9% -2.8% 8.4% 18.3% - 14.5%
MSCI World Value (Net) (AUD) Index -2.3% -1.5% 6.1% 13.8% - 10.1%
Excess Returns -1.6% -1.3% 2.3% 4.5% 0.0% 4.4%
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As at 31 March 2026

  • Global Value Improvers Strategy
  • MSCI World Value Index - Net Return AUD
Download current factsheet

As at 31 March 2026

Top 10 Positions Region Sector Portfolio
Weight %		 Benchmark
Weight %		 Active
Weight %
Totalenergies Se Europe Ex Uk Energy 4.6% 0.4% 4.1%
Banco Bilbao Vizcaya Argenta Europe Ex Uk Financials 4.2% 0.3% 3.9%
Wells Fargo & Co North America Financials 4.1% 0.6% 3.5%
Alphabet Inc-Cl A North America Communication Services 4.1% 4.0% 0.1%
Schwab (Charles) Corp North America Financials 4.0% 0.2% 3.8%
Siemens Energy Ag Europe Ex Uk Industrials 4.0% 0.0% 4.0%
Eqt Corp North America Energy 3.7% 0.1% 3.6%
Astrazeneca Plc United Kingdom Health Care 3.6% 0.0% 3.6%
National Grid United Kingdom Utilities 3.5% 0.2% 3.3%
Johnson & Johnson North America Health Care 3.5% 1.4% 2.1%
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Portfolio Weighted Average March 2026
Avg Market Capitalisation 438.4bn (AUD)
PE Ratio (FY1 Est) 15.6
Price/Book 3.5
Est 3-5 Yr EPS Growth 12.5%
ROE 16.3%
Dividend Yield 2.3%
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Investing in the Global Value Improvers Strategy

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Franklin Templeton Australia Limited is the Responsible Entity and distributor for all ClearBridge managed Funds in Australia. To explore and access these Funds, you will be redirected to the Franklin Templeton website.

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Institutional Investors

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Disclaimer

1 Internal calculations for the Global Value Improvers Strategy. All index data sourced from FactSet. Strategy performance is composite performance, shown gross of fees. Results over one year annualised. All values in AUD and net of withholding taxes for benchmarks, if applicable. Non-AUD values converted into AUD using FactSet Forex data.
2 Performance inception date: 31 December 2021.

Past performance is not a reliable indicator of future performance.

Investment returns can be volatile and may be influenced by market movements, currency fluctuations, and other factors.

This information is provided for general informational purposes only and does not constitute financial product advice. It has been prepared without taking into account any investor’s objectives, financial situation, or needs. Investors should consider the appropriateness of the information in light of their own circumstances and seek independent financial advice before making any investment decision.

References to specific securities, industries, or sectors are not recommendations to buy, sell, or hold any particular investment. Any target returns, performance (and related information), and dividend yields are based on internal research and are subject to change without notice. There is no assurance that a Strategy will meet its objectives.

ClearBridge Investments, LLC claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. ClearBridge Investments, LLC ("ClearBridge") is a wholly owned indirect subsidiary of Franklin Resources, Inc. (“Franklin”). In July 2020 Legg Mason, Inc., its parent company, was purchased by Franklin. The investment advisory business now known as ClearBridge was registered in September 2005 to facilitate Legg Mason's acquisition of substantially all the equity asset management businesses known as Citigroup Asset Management. These former businesses serve as the foundation of ClearBridge and its claim of GIPS compliance for institutional accounts through predecessor firms, effective as of January 1997. In June 2008, ClearBridge combined this business with its retail business to form a single GIPS firm. As of April 1, 2013, January 1, 2016, May 1, 2020, and January 1, 2024 ClearBridge affiliates, Global Currents Investment Management, LLC, ClearBridge, LLC, ClearBridge Investments Limited (f/k/a RARE Infrastructure Limited), and Franklin Bissett Asset Management have become part of the ClearBridge GIPS firm.

The ClearBridge Global Value Improvers composite consists of institutional discretionary accounts with no account minimum. The Strategy will pursue its investment objective by investing in value-based companies globally, seeking to outperform the MSCI World Value Index. The main risks of this strategy are issuer risk, equity risk, market volatility risk, foreign security risk, economic risk and concentration risk. Results are calculated in U.S. dollars. The MSCI World Value Index captures large and mid cap securities exhibiting overall value style characteristics across 23 developed market countries. To receive a complete list and description of ClearBridge composites and/or a presentation that adheres to the GIPS standards, please contact us.

Franklin Templeton Australia Limited ("FTAL") is the issuer and Responsible Entity of all ClearBridge managed funds. Retail funds’ offering documents, factsheets and application materials are hosted exclusively on the FTAL website. Any links to the FTAL website are provided for convenience only and ClearBridge Investments is not responsible for the maintenance or content of those external pages. Linking does not imply an offer, recommendation or solicitation to purchase.