Legg Mason ClearBridge Variable Mid Cap Core Portfolio

Our goal1

Long-term capital growth

What we invest in

The Portfolio generally invests at least 80% of its assets in medium-sized U.S. companies and it may also invest up to 25% of its assets in securities of foreign issuers.

Our approach

The Portfolio's managers apply a disciplined core investment strategy combining in-depth fundamental and quantitative analysis that removes emotion from the investment process. In selecting companies, the managers consider a number of factors, including various measures of cash-flow generation, earning power, growth prospects, balance sheet strength and quality of management

What should I know before investing?

Equity securities are subject to price fluctuation and possible loss of principal. Mid-cap stocks involve greater risks and volatility than large-cap stocks. International investments are subject to special risks including currency fluctuations, social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. Short selling is a speculative strategy. Unlike the possible loss on a security that is purchased, there is no limit on the amount of loss on an appreciating security that is sold short. Derivatives, such as options and futures, can be illiquid, may disproportionately increase losses, and have a potentially large impact on fund performance. The Manager's investment style may become out of favor and/or the Manager's selection process may prove incorrect; which may have a negative impact on the fund's performance.

Meet your ClearBridge managers

Brian Angerame and Derek Deutsch are co-managers of your Portfolio, with 14 years and 10 years of investment industry experience, respectively.

They're part of the investment team at ClearBridge Advisors, Legg Mason's largest equity manager. ClearBridge offers institutional and individual investors a variety of traditional and alternative equity strategies. With an investment heritage dating back over 45 years, ClearBridge offers distinctive manager insights and proprietary fundamental research.

Legg Mason's unique structure provides you with access to this specialized expertise, offering a powerful portfolio of solutions through our independent investment management firms.


Prior to November 2, 2009, the Fund was known as Legg Mason Partners Variable Mid Cap Core Portfolio. The Fund’s investment objective, portfolio managers and investment strategy have not changed. Please see the prospectus for details.

1 There is no guarantee that the Portfolio’s objective will be met.

These portfolios are available as investment options under a variable annuity or variable life contract. Shares of the portfolios are offered only to insurance company separate accounts that fund certain variable annuity or life contracts. These portfolios may not be available in all states and may only be offered in certain variable products. Please refer to the prospectuses. Variable annuities are long-term, tax-deferred investment vehicles designed for retirement purposes. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Withdrawals made prior to age 59½ are subject to a 10% IRS penalty charge and/or surrender charges. Investments in a variable annuity are subject to market risks, including loss of principal. Guarantees are based on the claims-paying ability of the insurer.

VARIABLE ANNUITIES ARE SOLD BY PROSPECTUS ONLY. AN INVESTOR SHOULD CONSIDER THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE INSURANCE CONTRACT AND THE UNDERLYING PORTFOLIO CAREFULLY BEFORE INVESTING. THE PROSPECTUSES CONTAIN THIS AND OTHER IMPORTANT INFORMATION ABOUT THE INSURANCE CONTRACT AND THE UNDERLYING PORTFOLIO. FOR A FREE PROSPECTUS ON THE UNDERLYING PORTFOLIO, PLEASE CLICK ON THE PROSPECTUS LINK. AN INVESTOR SHOULD READ THE PROSPECTUSES CAREFULLY BEFORE INVESTING.

All investment managers and Legg Mason Investor Services, LLC are subsidiaries of Legg Mason, Inc.

This site is intended for U.S. investors only. The products and services described on this site are generally not available to non-U.S. investors.


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