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Bill Miller's US-domiciled Legg Mason Value Trust finished 2005 outperforming the S&P 500 for the 1...

Bill Miller's US-domiciled Legg Mason Value Trust finished 2005 outperforming the S&P 500 for the 15th consecutive calendar year. The group's Dublin-domiciled Value fund and UK-domiciled US Equity portfolio, both managed by Mary Chris Gay, mirror the Value Trust. According to figures supplied by the company, the fund made an average total return of 5.32% over 2005, while the index grew by 4.91%. Having managed the fund since it launched in 1982, as Ernest Kiehne's co-manager until November 1990, Miller's investment approach focuses on understanding the intrinsic value of individual stocks. ...