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Rating:Legg Mason Puts Another Fund in Miller's Hands Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, December 19, 2008

Legg Mason Puts Another Fund in Miller's Hands

by: Armie Margaret Lee

Legg Mason is entrusting another fund to Bill Miller. In addition to running Legg Mason Value and Legg Mason Opportunity, Miller will become part of a team that manages Legg Mason Partners All Cap starting January 1, Wenli Tan reports in Morningstar's Fund Times column.

Since the fund hit the market in February 2007, its record, Tan notes, has been "extremely poor." Like its peers, the fund has placed the wrong bet on financials.

Meanwhile, Tan applauded Legg Mason's decision to waive the fund's management fee of 70 bps from January 1 to June 30, 2009. 

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