LeggMason Investors is to add a sterling share class to its Dublin-based North American Value fund r...
LeggMason Investors is to add a sterling share class to its Dublin-based North American Value fund run from the US by Bill Miller.
Miller, who runs a total of $12bn in mutual fund monies using his value approach, has not previously been available to investors via a sterling share class.
His US mutual fund has outperformed the S&P 500 for each of the last 10 discrete years. LeggMason is now unlikely to launch a UK-based onshore mirror version of the product.
The $320m Dublin-based LeggMason fund is branded Strategic Value.
LeggMason has recruited Kieran Gallagher from Newton as head of European equities and chief investment officer. He will run money for the group, although it is as yet undecided whether a specific fund will be launched for him.
Newton has promoted Aaron Barnfather to run the Newton European fund when Gallagher leaves for LeggMason.
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