Legg Mason incorporates Martin Currie’s global funds

MergingUS-based asset manager, Legg Mason, has merged Edinburgh-based Martin Currie’s global funds into its own range of global funds. Legg Mason acquired Martin Currie in 2014 and the firm’s board of directors decided to merge seven of Martin Currie’s Luxembourg domiciled sub-funds into Legg Mason’s Ireland-domiciled global sub-funds. The US firm said that the move was in the interest of the shareholders as it gives the funds the economies of scale achieved from operating on the Legg Mason fund platform. Despite the merger, the funds will retain their current investment directives and the management of the funds will remain unchanged. “By merging our cross-border Ucits funds into the Legg Mason global funds range our clients immediately benefit from lower ongoing costs and each fund’s distribution reach is greatly enhanced,” said Andy Sowerby, head of sales, marketing and client service at Martin Currie. ©2016 funds europe

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