Legg Mason's Osmani shuns FAANGs to outperform US market

Concerns over Facebook and Google behind move

James Baxter-Derrington
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Zehrid Osmani of Legg Mason
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Zehrid Osmani of Legg Mason

The Legg Mason IF Martin Currie US Unconstrained fund has shunned the typically-held FAANG (Facebook, Apple, Amazon, Netflix and Google) stocks, with the exception of Amazon, as manager Zehrid Osmani instead seeks out "better opportunities" in the market for his high conviction, highly-concentrated strategy.

Currently holding 24 positions, the fund typically holds between 20 and 30, according to the manager, who said the fund remains diversified despite itshigh concentration. Osmani said the best opportunities...

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