LEGG MASON FUNDS ICVC FUND RANGE RENAMING

We have taken the decision to change the naming convention of the Legg Mason Funds ICVC* fund range in line with the approach taken in other Legg Mason fund ranges. The fund names will now reflect the Legg Mason subsidiary managing the funds. For example, Legg Mason US Equity Income Fund will be renamed Legg Mason IF ClearBridge US Equity Income Fund. This change is effective 28 June 2015.
By adding the relevant Legg Mason subsidiary to the fund name, we believe we will improve clarity around who is managing the underlined products that our clients invest in. While the addition of “IF” to the UK ICVC range will ensure the sub-funds are easily identifiable belonging to the UK onshore range.
The purpose of adding “IF” to the ICVC fund range will ensure the sub-funds are easily identifiable as funds belonging to the ICVC and avoid overlaps between the ICVC and Legg Mason’s other cross-border (“offshore”) funds.
The Authorised Corporate Director for the ICVC is Legg Mason Investment Funds Limited and the identifier – “IF”– reflects that involvement.
Commenting, Adam Gent, Head of UK Sales at Legg Mason, said: “We will be renaming the UK fund range to bring it in line with our wider fund range, which is to co-brand Legg Mason and our subsidiaries. We want to create consistency in our product range and ensure our clients have a solid understanding of who the underlying investment managers managing their money are.”
Summary of Legg Mason Funds ICVC sub-fund to be renamed:
OLD NAME NEW NAME (EFFECTIVE DATE 28.06.15)
Legg Mason Income Optimiser Fund Legg Mason IF Brandywine Global Income Optimiser Fund
Legg Mason US Equity Fund Legg Mason IF ClearBridge US Equity Fund
Legg Mason US Equity Income Fund Legg Mason IF ClearBridge US Equity Income Fund
Legg Mason Emerging Markets Equity Fund Legg Mason IF QS Emerging Markets Equity Fund
Legg Mason UK Equity Fund Legg Mason IF QS UK Equity Fund
Legg Mason US Smaller Companies Fund Legg Mason IF Royce US Smaller Companies Fund
Legg Mason Japan Equity Fund Legg Mason IF Japan Equity Fund1
Legg Mason Global Equity Income Fund Legg Mason IF ClearBridge Global Equity Income Fund
Legg Mason Global Blue Chip Bond Fund Legg Mason IF Western Asset Global Blue Chip Bond Fund
Legg Mason Global Multi Strategy Bond Fund Legg Mason IF Western Asset Global Multi Strategy Bond Fund
-ends-
1Please note: Legg Mason Japan Equity Fund is run by Shiozumi Asset Management, which is not a wholly owned subsidiary of Legg Mason.