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ClearBridge Small Cap Strategy exited its stake in Abacus Global Management (ABL) in Q2 due to declining conviction in the company and concerns over performance. A short report alleging ABL inflated policy values through a conflict of interest with its valuation partner also prompted the exit. The strategy underperformed the benchmark, with the Russell 2000 returning 8.5% compared to the 11.1% of the Russell 1000 Index.
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