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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Recorded by our fund managers; they share their views on what’s happening in global economies, the markets and our strategies.
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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.
Global Equity Insights
Portfolio Insights
Upgrading Exposures to Secular Growth Trends
Q3 2025 Global Growth Strategy Commentary
We meaningfully repositioned our weightings to banks and companies with vital roles in the buildout of generative AI workloads.
Global Equity Insights
Portfolio Insights
Improvers Positioned Where Energy and Efficiency Converge
Q3 2025 Global Value Improvers Strategy Commentary
Global equities advanced on tariff clarity and easing policy uncertainty, while the Strategy maintained its focus on undervalued companies with structural growth drivers.
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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Australian Equity Insights
Australian Equities Reporting Season - September 2025
Australian equity valuations continue to be near record highs. The gap between
the most expensive and cheapest stocks remains at extreme levels, and index-driven flows continue to push up the prices (and index weights) of the largest Australian stocks.
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.