Legg Mason Launching Two New SMAs

Legg Mason announced Tuesday that it is launching two new separately managed accounts that will give retail investors access to fixed income instruments not typically available in an SMA.

With a minimum investment of $250,000, the Core and Core Plus SMAs will invest in corporate and mortgage bonds, as well as high-yield, emerging market debt, non-dollar denominated securities and other uncommon fixed income instruments. The goal, Legg Mason said, is to give retail investors greater diversification than normally found in a traditional SMA. The two SMAs are mirrors of two flagship portfolios offered by subsidiary Western Asset Management.

“Legg Mason constantly looks to develop cutting-edge new products for investors, capitalizing on the proven investment capabilities of its subsidiaries,” said Don Froude, head of U.S. distribution for Legg Mason.