Morningstar

ClearBridge Emerging Markets Fund Class A MACEX

Morningstar Medalist Rating
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  • NAV / 1-Day Return $19.60  /  −1.46 %
  • Fund Size $402.7M
  • Adjusted Expense Ratio 1.300%
  • Net Expense Ratio 1.310%
  • Fee Level: Distribution Average
  • Share Class Type Front Load
  • Morningstar Category Diversified Emerging Mkts
  • Equity Style Box (Funds) Large Growth
  • Minimum Initial Investment $1,000
  • Investment Status Open
  • TTM Yield 0.19%
  • Turnover Ratio 25%
NAV and 1-Day Return as of

Morningstar’s Analysis MACEX

Will MACEX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable MACEX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the MACEX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of MACEX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Proven process and established team deliver as style tailwinds reward conviction.

Cerise Bootsma

Cerise Bootsma

Summary

The ClearBridge Emerging Markets strategy, formerly branded under Martin Currie, is led by an experienced, tenured seven-person team that applies a consistent quality-growth process. Andrew Mathewson continues to lead the team from a people-management perspective. The team’s flat structure—where each member operates as both analyst and portfolio manager with equal voting rights—encourages rigorous debate and meaningfully mitigates key-person risk. Solid succession planning has been demonstrated in practice, with Robbie McNab joining in May 2026 as a deliberate, experience-matched replacement for retiring Paul Sloane. The strategy’s rebranding from Martin Currie to ClearBridge in 2025 has been smooth and provides the team with greater access to resources that is beneficial for investors.

by Cerise Bootsma
Rated on Published on

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Portfolio Holdings MACEX

More MACEX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 53.1
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Taiwan Semiconductor Manufacturing Co Ltd

15.46 65M
Technology

Samsung Electronics Co Ltd

10.62 45M
Technology

SK hynix Inc

7.40 31M
Technology

Tencent Holdings Ltd

4.85 20M
Communication Services

Shinhan Financial Group Co Ltd

2.96 12M
Financial Services

Delta Electronics Inc

2.93 12M
Technology

MediaTek Inc

2.46 10M
Technology

Taiwan Semiconductor Manufacturing Co Ltd ADR

2.24 9M
Technology

Capitec Ltd

2.09 9M
Financial Services

ICICI Bank Ltd ADR

2.08 9M
Financial Services

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