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Rating:Legg Mason Clears One Fund Swallowing Another Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, February 16, 2011

Legg Mason Clears One Fund Swallowing Another

News summary by MFWire's editors

Legg Mason's [see profile] mutual fund roster is about to shrink by one. Earlier this month the Baltimore-based asset manager revealed plans to merge the Legg Mason ClearBridge Diversified Large Cap Growth Fund into the much larger Legg Mason Clearbridge Appreciation Fund [see filing]. (The former has $95.27 million, while the latter has $4.45 billion.)

Pending shareholder approval (proxy materials will go out in April), Legg expects to combine the funds on June 24. The Diversified Large Cap Growth Fund's A, C and I shares will close on June 22 and its B shares on February 18. The FI, R and R1 shares are already closed.

Legg did not offer a reason for the move. 

Edited by: Neil Anderson, Managing Editor

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