Legg Mason Inc. has made an executive decision to remove its name from U.S mutual funds run by its Western Asset Management Co. subadvisor to boost sales to individual investors, Bloomberg
Effective Aug. 1, the funds will only use the Western Asset name as part of a broader strategy to make the funds more competitive, according to Maria Rosati, a spokeswoman for Legg Mason.
Jim Flick, director of global client service and marketing of the bond division, told the pub that: “We’re just really trying to make sure that the reputation and the satisfaction that we’ve delivered to our institutional clients is easily transferred to the retail clients,”, said in a telephone interview.
