Legg Mason Announces 2015 Lipper Fund Winners

ClearBridge Investments and Western Asset Award Recipients

News provided by

Apr 01, 2015, 11:30 ET

NEW YORK, April 1, 2015 /PRNewswire/ -- Legg Mason, Inc. (NYSE: LM) announced today that the ClearBridge Aggressive Growth Fund and the Western Asset Managed Municipals Fund have won 2015 Lipper Fund Awards¹. The awards, which recognize mutual funds that have demonstrated consistent, strong risk-adjusted returns against their peers, were announced yesterday by Lipper, a Thomson Reuters company.

The ClearBridge Aggressive Growth Fund's IS share class (LSIFX) received the Lipper award for the 5-year period ending December 31, 2014. The Fund is in Lipper's Multi-Cap Growth Funds category.

The Western Asset Managed Municipals Fund's I share class (SMMYX) received the Lipper award for the 10-year period ending December 31, 2014. The Fund is in Lipper's General and Insured Municipal Debt Funds category.

The ClearBridge Aggressive Growth strategy uses a focused approach to invest in multi-cap companies with strong long-term growth potential. The approach seeks capital appreciation from a high-conviction portfolio of companies with new or innovative technologies, products and services. The portfolio management team has been managing the fund for over 30 years.

The Western Asset Managed Municipal strategy strives to provide investors with high monthly income exempt from federal income taxes using a time-tested, value-oriented investment process. The Fund employs sector rotation and issuer selection primarily among intermediate and long-term investment grade municipal securities. The Funds' five-person portfolio management team averages 28 years of experience.

About Legg Mason

Legg Mason is a global asset management firm with $711 billion in assets under management as of February 28, 2015. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).

About ClearBridge Investments

ClearBridge Investments is a well-established global investment manager with approximately $108 billion in assets under management. With a legacy dating back over 50 years, our long-tenured portfolio managers and fundamental research team focus on building equity portfolios for clients who seek income solutions, high active share or low volatility. Owned by Legg Mason, ClearBridge operates with investment independence from headquarters in New York and offices in Baltimore, San Francisco and Wilmington.

About Western Asset

Western Asset is one of the world's leading fixed-income managers with $455 billion in assets under management as of December 31, 2014. The firm is a wholly owned, independently operated subsidiary of Legg Mason, Inc. (NYSE: LM) From offices in Pasadena, Hong Kong, London, Melbourne, New York, São Paulo, Singapore, Tokyo and Dubai, the company provides investment services for a wide variety of global clients, across an equally wide variety of mandates.

About the Lipper Awards

The Lipper Fund Awards are part of the Thomson Reuters Awards for Excellence, a global family of awards that celebrate exceptional performance throughout the professional investment community. The Thomson Reuters Awards for Excellence recognize the world's top funds, fund management firms, sell-side firms, research analysts, and investor relations teams. The Thomson Reuters Awards for Excellence also include the Extel Survey Awards and the StarMine Analyst Awards. For more information, please contact [email protected] or visit excellence.thomsonreuters.com. Past performance is no guarantee of future results.

Rankings in the Lipper categories are based on average annual total returns assuming reinvestment of dividends and capital gains, as of December 31, 2014. Each fund is ranked within a universe of funds similar in portfolio characteristics and capitalizations, as defined by Lipper, Inc. A high Lipper ranking does not necessarily imply that the fund achieved positive results for the period. Rankings are based on performance that does not include sales charges. Results would have been less favorable had sales charges been included.

Lipper Inc. is a major independent mutual fund tracking organization.

¹ClearBridge Aggressive Growth Fund's IS shares Lipper primary rankings are as follows (rank/# of funds in category): 1-year: 28/557; 3-year: 4/474; 5-year: 2/417; 10-year: n/a. Western Asset Managed Municipal Fund's I shares Lipper primary rankings are as follows (rank/# of funds in category): 1-year: 95/258; 3-year: 71/231; 5-year: 55/207; 10-year: 1/156.

ClearBridge Aggressive Growth Fund

Equity securities are subject to price fluctuation and possible loss of principal. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. International investments are subject to special risks including currency fluctuations, social, economic and political uncertainties, which could increase volatility. Short selling is a speculative strategy. Unlike the possible loss on a security that is purchased, there is no limit on the amount of loss on an appreciating security that is sold short.

Western Asset Managed Municipals

Fund Fixed income securities involve interest rate, credit, inflation, and reinvestment risks; and possible loss of principal. As interest rates rise the value fixed income securities falls. High yield bonds possess greater price volatility, illiquidity, and possibility of default. Derivatives, such as options and futures, can be illiquid, may disproportionately increase losses, and have a potentially large impact on fund performance. An investor may be subject to the Federal Alternative Minimum Tax (AMT), and state and local taxes may apply. Capital gains, if any, are fully taxable.

Before investing, carefully consider a Fund's investment objectives, risks, charges and expenses. You can find this and other information in each prospectus, or summary prospectus, if available, which is available at www.leggmasonfunds.com. Please read it carefully.

SOURCE Legg Mason, Inc.