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Large Cap Core Update

October 25, 2022

Strategy underperforms benchmark in Q3 but outperforms year to date

The strategy underperformed the benchmark in Q3, with most of the drag coming from lower valuations, but has outperformed year to date due to positive contributions from valuation factors and market cap. Negative effects of  underexposure to mega cap names was more than offset by relative market cap exposure in the rest of the cap spectrum.