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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