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Large Cap Growth Update

July 28, 2020

Value and Fundamentals Remain Out of Favor

The second quarter risk rally saw the Russell 1000 Growth Index experience a historic surge, led by stocks with negative earnings and those with high price-to-earnings ratios. These conditions were challenging for the Glenmede Large Cap Growth Equity Strategy, which emphasizes value and attractive fundamentals. Portfolio Manager Val de Vassal, CFA, discusses performance, the environment which included the reconstitution of the Russell equity indexes, and the outlook for the second half of 2020.