New York-based ClearBridge is the Legg Mason group’s largest equity manager with around $60bn in assets under management.
UK investors are able to access the £42m US Equity Income Fund as well as four Dublin-domiciled vehicles: US Aggressive Growth, US Appreciation, US Fundamental Value and US Large Cap Growth funds.
Legg Mason Capital Management’s Baltimore-based team will retain its individual identity and will continue to be led by Sam Peters, who took over management of its Value Trust fund from Miller in May 2012.
Miller will continue to focus his time on the Opportunity Trust fund as a managing member of LMM, a separate legal entity that he and Legg Mason established in 1999.
In a statement, Legg Mason said: “ClearBridge has a proven ability to seamlessly integrate investment teams whose investment philosophies and processes are similar to its own, and the addition of the LMCM strategies will not have any impact on any existing ClearBridge portfolios or investment teams.”
