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Rating:A Legg Mason Fund Gets Some Bloomberg Lovin' Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, August 23, 2013

A Legg Mason Fund Gets Some Bloomberg Lovin'

News summary by MFWire's editors

Bloomberg's Alexis Loendis covered Legg Mason [profile] ClearBridge Aggressive Growth Fund, co-managed by Richard Freeman and Evan Bauman, who achieved a risk-adjusted performance of 4.3 percent over the past three years. Leondis writes that the fund was ranked the best out of 34 large funds that buy stocks of U.S. companies with higher-than-average growth.

The PMs look for cash-rich companies that grow faster than their rivals, Leondis writes. Leondis reports that the fund has a heavy focus on industries poised for growth, with 34 percent of assets allocated into health care stocks.

Freeman, who ran the fund from the beginning, was quoted by Leondis as saying, "The stronger names are those we've ones for a long time and have gone to make higher highs in terms of earnings and cash flows, and stock prices have moved accordingly."

Leondis reports that the fund's performance has been a boon for Legg Mason, which is trying to walk back its five straight years of redemptions.

To read more, click here.  

Edited by: Casey Quinlan

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