Legg Mason Inc. has renamed its mutual funds, including most Smith Barney and Salomon Brothers mutual funds, into Legg Mason Partners funds family. It is one of the last steps Legg Mason is taking in a rebranding effort to transition the funds and to create Legg Mason Partners as a unified and cohesive fund family.
Additionally, Legg Mason started a new pricing structure to create uniformity across all of its mutual funds.
In July, Legg Mason announced plans to streamline its mutual fund offering from 170 to 119 funds and to reduce its fund boards. The proposal is being voted on by shareholders now, and if approved, will be implemented the first quarter of next year.
Baltimore-based Legg Mason acquired Citigroup’s fund business last year. Legg Mason markets its fund under the names, Legg Mason Partners Funds, Legg Mason Funds, Royce Funds and Western Asset Funds.