Legg Mason Investments has added a global equity vehicle to its Dublin-domiciled global fund range....
Legg Mason Investments has added a global equity vehicle to its Dublin-domiciled global fund range.
Brandywine Global Equity, which invests in stocks with a market capitalisation of more than $100m, will come under the group's subsidiary Brandywine Global Investment Management.
The sub-fund will be made up of 50 to 100 stocks from developed and emerging markets across all market sectors and capitalisations.
The manager will use a value-oriented investment approach and in-depth analysis of companies to identify securities that are trading below their normal valuation and expectations.
Brandywine will also pursue a strict stock screening process, using quantitative and fundamental analysis methods, to identify stocks with key components such as valuation, profitability and long-term recovery.
Adam Spector, managing director of Brandywine, said: "Value-oriented investment strategies can provide excellent risk-adjusted returns over full investment cycles. Using a common value framework across multiple markets allows a more consistent approach in today's global investment climate."
Minimum investment for the fund, which carries charges of up to 5% initial and 1.35% annual, is $10,000.key points
Legg Mason launches global equity fund
Fund managed by its subsidiary Brandywine
Will take value-oriented approach with in-depth analysis
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch
To drive progress