Bill Miller successor Peters joins Value Trust

Sam Peters is joining Bill Miller as co-portfolio manager of the Legg Mason Capital Management Value Trust on 1 November.

Miller, who has managed the fund for almost three decades, has worked closely with Peters since his arrival from Fidelity Investments five years ago. Mary Chris Gay will continue to serve as the assistant portfolio manager of the fund. "I am confident that our clients and shareholders, many of whom know Sam, will be pleased with his addition to the Value Trust team,” Miller says. “He is a fundamental, data driven investor. He thinks independently and understands how people and institutions behave in a variety of market conditions. “I've co-managed two other strategies with him a...