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Tuesday, December 17, 2013

Bill Miller, and Son, Start a Fund

News summary by MFWire's editors

Famed Legg Mason PM Bill Miller has launched his own brand, so to speak, with his son Bill Miller IV.

The Millers filed with the SEC their own mutual fund, the Miller Income Opportunity Trust (LMOPX). Miller will helm the fund, and his son will serve as assistant PM, according to Bloomberg.

The fund will be run by LMM LLC, a $1.6 billion shop partially owned by Legg.

It's been a good year for Miller, who has weather a roller coaster ride since the financial crisis. In 2011, he stepped down as Legg's CIO, but since then has enjoyed a resurgence as noted here, here, and .  

Edited by: Tommy Fernandez

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