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Rating:Bill Miller Gains His Distribution Freedom Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, March 03, 2009

Bill Miller Gains His Distribution Freedom

Reported by Neil Anderson, Managing Editor

Those who want to buy shares of Legg Mason Value Trust may soon be able to use the wirehouse of their choosing. A spokeswoman for Legg Mason that Smith Barney's exclusive distribution deal with Bill Miller's Legg Mason Capital Management, forged in the wake of the asset swap between Legg Mason and Citigroup, expired on February 19.

InvestmentNews' Mark Bruno first reported the news.

The Legg Mason spokeswoman told MFWire that LMCM is "in the process" of signing new distribution agreements while still distributing (though not exclusively) through Smith Barney. She added that the deal was planned to be only three years and thus expired as scheduled. 

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