Legg Mason adds ClearBridge US income fund to UK range

Legg Mason is expanding its retail range for UK investors with the launch of a US equity income fund, previously only available to US investors and run by New York-based subsidiary ClearBridge Advisors.

The product will be the asset manager’s first investment company with variable capital (ICVC) launch in three years and is part of a drive to expand its retail fund range in the UK. The Legg Mason US Equity Income fund will launch in mid-October this year and will mirror the $4bn strategy, US Equity Income Builder, run for US investors by Hersh Cohen, Peter Vanderlee and Michael Clarfeld. They look for high quality companies, paying attractive dividend yields with the capacity to grow their income stream over the long term. A significant increase in the number of US companies paying ...