Is ClearBridge Select Fund A (LCLAX) a Strong Mutual Fund Pick Right Now?

If you've been stuck searching for Large Cap Blend funds, you might want to consider passing on by ClearBridge Select Fund A (LCLAX) as a possibility. LCLAX holds a Zacks Mutual Fund Rank of 4 (Sell), which is based on various forecasting factors like size, cost, and past performance.ObjectiveWe note that LCLAX is a Large Cap Blend option, an area loaded with different options. More often than not, Large Cap Blend mutual funds invest in companies with a market cap of over $10 billion. Buying stakes in bigger companies offer these funds more stability, and are well-suited for investors with a " buy and hold " mindset. Additionally, blended funds mix large, more established firms into their portfolios, giving investors exposure to value and growth opportunities.History of Fund/ManagerFranklin is based in San Mateo, CA, and is the manager of LCLAX. Since ClearBridge Select Fund A made its debut in September of 2013, LCLAX has garnered more than $1.45 billion in assets. Aram Green is the fund's current manager and has held that role since September of 2013.PerformanceOf course, investors look for strong performance in funds. This fund in particular has delivered a 5-year annualized total return of 10.61%, and it sits in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 11.33%, which places it in the middle third during this time-frame.It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Compared to the category average of 15.01%, the standard deviation of LCLAX over the past three years is 19.46%. Over the past 5 years, the standard deviation of the fund is 19.73% compared to the category average of 14.78%. This makes the fund more volatile than its peers over the past half-decade.Risk FactorsInvestors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. LCLAX has a 5-year beta of 1.1, which means it is likely to be more volatile than the market average. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. LCLAX's 5-year performance has produced a negative alpha of -5.37, which means managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.HoldingsExploring the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is mostly on equities that are traded in the United States.Currently, this mutual fund is holding 85.92% in stocks, and these companies have an average market capitalization of $187.02 billion. The fund has the heaviest exposure to the following market sectors: Technology Retail Trade Turnover is 17%, which means, on average, the fund makes fewer trades than its comparable peers.ExpensesAs competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, LCLAX is a load fund. It has an expense ratio of 1.33% compared to the category average of 0.96%. LCLAX is actually more expensive than its peers when you consider factors like cost.Investors should also note that the minimum initial investment for the product is $1,000 and that each subsequent investment needs to be at $50Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.Bottom LineOverall, ClearBridge Select Fund A ( LCLAX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and higher fees, ClearBridge Select Fund A ( LCLAX ) looks like a poor potential choice for investors right now.For additional information on this product, or to compare it to other mutual funds in the Large Cap Blend, make sure to go to www.zacks.com/funds/mutual-funds for additional information. 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