Longtime comanager Scott Glasser is stepping off this strategy effective Dec. 31, 2024, to focus his energies solely on his role as chief investment officer of ClearBridge. Glasser began managing this portfolio at the end of 2001, and over his 20-plus years at the helm, this strategy’s I shares effectively matched the Russell 1000 Index, albeit with lower volatility, and thus, better risk-adjusted results. This move is not very surprising; Glasser is nearing the end of his career, and Stephen Rigo was named a portfolio manager in September 2022 in what was a succession-planning move. Glasser’s experience will be missed, but Michael Kagan, who began managing this portfolio alongside Glasser in August 2009, remains as a veteran comanager beside Rigo. Like Glasser, Kagan is also closer to the end of his career than the beginning. However, he probably has a bit longer runway than Glasser, and he expressed to Morningstar in early 2023 that he has no imminent plans of retirement. ClearBridge is committed to a multimanager model for running portfolios, so even in the event of Kagan’s departure, investors should expect ClearBridge to name a replacement to manage alongside Rigo.