Large Cap Core Update
October 22, 2020
Well Positioned Versus Benchmark
Key indexes continued to be driven primarily by just five mega capitalization stocks during the third quarter. With holdings concentration limits and a bias toward lower valuations, Glenmede Quantitative U.S. Large Cap Core Equity Strategy underperformed for the quarter overall. However, the strategy’s diversified portfolio is in a strong position across a range of valuation and fundamental metrics compared to its benchmark. Quantitative Equity Portfolio Manager Alexander Atanasiu, CFA, reviews performance and an analysis of Russell 1000 Growth and Russell 1000 Value relative valuation spreads, which are at or near the highest levels since 1993.