Bill Miller's Legg Mason Value Trust will sport a new moniker -- Legg Mason Capital Management Value Trust -- as part of a broader rebranding effort at the Baltimore fund firm, The Baltimore Sun reports. Legg also merged or shuttered around 15 funds as a result of a review that it initiated earlier this year.

Under the rebranding slated to be unveiled Monday, most Legg Mason and Legg Mason Partners retail and institutional funds will sport the Legg Mason name followed by the name of the investment manager and fund strategy.

The change is aimed at banishing confusion between the two Legg-branded funds, heightening brand awareness and highlighting the expertise of Legg's subsidiaries, Matt Schiffman, head of retail for the Americas, was quoted in the report as saying.

"At the end of the day, you want the investors to really understand what they're investing in," Schiffman said.

This past spring, the firm consolidated its operating platform for its Legg Mason fund families.  

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