Legg Mason guru Bill Miller names successor

clock

Legg Mason Capital Management has unveiled the eventual successor to renowned fund manager Bill Miller.

Miller, who was named Morningstar's fund manager of the 1990s, will hand over the reins on the $4.2bn Value trust to former Fidelity Investments manager Sam Peters. Despite announcing succession plans, the 60-year-old Miller, who famously beat the S&P 500 for 15 consecutive years until 2006, has no immediate plans to retire. Mary Chris Gay, currently assistant portfolio manager on Value trust and co-manager on the UK mirror fund, will stay in her current role. Peters, who serves as the portfolio manager for LMCM's Mid Cap strategy, will become a co-portfolio manager on the Value fu...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on US

JP Morgan AM's Karen Ward: Investors should not 'trade' the US election
US

JP Morgan AM's Karen Ward: Investors should not 'trade' the US election

Focus on policy impact on inflation

Valeria Martinez
clock 14 March 2024 • 2 min read
Royal London AM launches Irish-domiciled US Equity fund
US

Royal London AM launches Irish-domiciled US Equity fund

Managed by Chris Parr

clock 13 March 2024 • 1 min read
LGIM CIO Laud: Magnificent Seven could be reaching bubble territory
US

LGIM CIO Laud: Magnificent Seven could be reaching bubble territory

Favours thematic approach to AI

Valeria Martinez
clock 11 March 2024 • 2 min read
Trustpilot