Legg Mason's global bond portfolio manager, Jack McIntyre, has exited his Canadian and Chinese positions and upped exposure to Mexico as part of a move to higher yielding countries.
Mary Chris Gay, co-manager of the £52m Legg Mason US Equity fund with Bill Miller, forecasts a rally of up to 15% in US equities by the end of 2012.
Legg Mason Asset Management has unveiled its $34m Brandywine Global Opportunistic Fixed Income fund to the UK market.
Negative market sentiment should not deter investors in US banks, said Ryan Brist, head of US investment grade credit at Legg Mason subsidiary Western Asset Management.
Bill Miller, chairman and chief investment officer of Legg Mason Capital Management, is to step down and cede his multi-billion dollar Value Trust to Sam Peters.
Legg Mason's absolute return specialist Dipankar Shewaram has left the firm to pursue other opportunities.