By Zacks Investment Research on June 4, 2010
Legg Mason is one of the world’s largest asset managers with assets under management of $685 billion. It uses a multi-affiliate business model to provide a wide range of financial services to individual and institutional investors in 190 countries across six continents. The affiliates operate with a high degree of autonomy each utilizing its own unique approach and processes. The company complements the operations of its affiliates by providing distribution and client services as well as support in areas such as operations, technology and accounting.
Below we will share with you 5 top rated Legg Mason funds. Each has earned a Zacks #1 Rank (Strong Buy) as we expect the fund to outperform its peers in the future.
Legg Mason Western Asset Core Plus A (SHMGX) seeks both capital appreciation and income. Domestic fixed-income securities, including government obligations, corporate debt, and asset-backed securities constitute its major investments. Up to 20% of its assets are used to purchase securities rated below investment grade and foreign securities. The fund returned 18.27% over the last one year period.
The Legg Mason fund has a minimum initial investment of $1,000 and an expense ratio of 1.00% compared to a category average of 0.95%.
Legg Mason Western Asset Corporate Bond A (SIGAX) invests the majority of its assets in corporate debt securities that are rated investment grade. The fund may also purchase government securities and dollar denominated foreign securities. The fund has a ten year annualized return of 5.87%.
Stephen A. Walsh is the fund manager and he has managed this Legg Mason fund since 2006.
Legg Mason Western Asset Municipal High Income A (STXAX) seeks high levels of current income exempt from federal income tax. The majority of its assets are used to purchase municipal securities, the interest income from which is tax exempt. The fund returned 19.45% over the last one year period and has a five year annualized return of 4.71%.
The Legg Mason fund has an expense ratio of 0.77% compared to a category average of 1.11%.
Legg Mason Global Currents International All Cap Opportunity A (SBIEX) invests at least 80% of its assets in a wide range of foreign equity securities. Most of the fund’s assets are invested outside the U.S. It invests in companies regardless of their market capitalization. The fund has a five year annualized return of 3.75%.
As of March 2010, this fund held 86 issues, with 2.13% of its total assets invested in Axa.
Legg Mason Lifestyle Allocation 70% (SCGRX) seeks capital appreciation over the long term. The fund invests its assets in mutual funds from Legg Mason Partners, the majority of which are equity funds. Up to 30% of its assets may be invested in fixed-income funds from Legg Mason. The fund returned 37.79% over the last one year period.
Steven D. Bleiberg is the fund manager and he has managed this Legg Mason fund since 2006.
About Zacks Mutual Fund Rank
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From DAILY MARKETS ONLINE posted on Jun 04 2010