Legg Mason filed with the Securities and Exchange Commission last week to streamline its mutual fund complex by merging U.S. funds and liquidating others, resulting in 119 funds as opposed to the current 166. Most of the former Smith Barney and Salomon Brothers funds will be re-branded Legg Mason Partners Funds.

In addition, the company intends to reduce the number of boards overseeing the funds from 10 to three, one monitoring equity funds, another fixed income and the third, closed-end funds.

(c) 2006 Money Management Executive and SourceMedia, Inc. All Rights Reserved.

http://www.mmexecutive.com http://www.sourcemedia.com

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.