Bill Miller to Acquire Legg Mason’s Stake in LMM LLC

Today, it was announced that I will buy out Legg Mason’s remaining stake in LMM, the investment adviser to the Opportunity Equity and Income Opportunity strategies. Both Legg Mason and I anticipated this transition, and view the signing of the deal as the final step in a long process that started with the launch of Opportunity in 1999 and continued with the launch of Miller Income Opportunity in 2009. This deal aligns with the long-term strategic goals of both Legg Mason and our Firm.

I am dedicated to managing our strategies and to our investors. Our team is committed to our value-based, long-term investment approach.

I am excited about the future of our Firm. We plan to selectively add complementary investment strategies that we can offer through a broader range of investment vehicles. I hope investors are as enthusiastic as I am about this transition, as it represents my ongoing commitment to our investment process and to true active management.

Read the Press Release.

Investor questions: Neil O’Callaghan email • 410.454.3128
Media inquiries: Liz Goodier email • 410.454.3104

Any views expressed are subject to change at any time, and LMM disclaims any responsibility to update such views. The information presented should not be considered a recommendation to purchase or sell any security and should not be relied upon as investment advice. It should not be assumed that any purchase or sale decisions will be profitable or will equal the performance of any security mentioned. Past performance is no guarantee of future results, and there is no guarantee dividends will be paid or continued.