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Article: Legg Mason to seek approval for UK retail fund mergers.
- Article from:
- Fund Strategy
- Article date:
- January 23, 2006
CopyrightCOPYRIGHT 2006 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Legg Mason Investments is to seek unitholder approval for two mergers of its UK retail funds, reducing its range of funds from 10 to eight.
If approved at a shareholder meeting on February 15, it will amalgamate the #30.97m UK Opportunities fund into the #54.80m UK Equity fund and merge the #8m European TMT fund into #14m Continental European Equity fund.
All four funds are managed by Batterymarch Investment Management, which is an affiliate company of the group's American parent company Legg Mason.
As a result there will be no departures as a result of the mergers, which if approved will become effective on March 1.
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