ClearBridge International Growth ADR Portfolios Q1 2026 Commentary
Franklin Templeton·2026-05-29·via All Articles on Seeking Alpha
Summary
International equities declined in March as the U.S.-Israel conflict with Iran escalated, resulting in mixed quarterly performance.
We reduced overall software exposure, including cutting Germany's SAP by roughly two thirds.
Geopolitical conflict has reshaped global cost dynamics, particularly for energy dependent Europe, increasing uncertainty around inflation, interest rates and consumer demand.
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Key Takeaways
Markets: International equities declined in March as the U.S.-Israel conflict with Iran escalated, resulting in mixed quarterly performance. The MSCI EAFE Index fell 1.2% but still outperformed the S&P 500 Index (4.3%). Value stocks continued to lead amid
