Legg Mason Lifestyle Allocation 50%

Our goal¹

A balance of capital growth and current income

What we invest in

Using a "fund of funds" approach, the Fund's portfolio managers employ a Target Asset Allocation strategy of 50% in underlying equity funds and 50% in underlying fixed-income funds. The equity includes large- and small-cap, growth- and value-oriented and international funds. The fixed-income component includes funds that invest in investment-grade securities of U.S. and non- U.S. issuers, such as corporate, mortgage-backed and government securities and funds that invest in high-yield corporate debt rated below investment grade.

Our approach

The Fund's managers select investments from among Legg Mason’s broad array of affiliated mutual-fund offerings to construct the portfolio. The managers consider a broad range of market and economic trends, quantitative factors and performance as they periodically adjust the Fund's allocation and select underlying holdings.

What should I know before investing?

Equity securities are subject to price fluctuation and possible loss of principal. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. Fixed-income securities are subject to interest rate, credit, inflation and reinvestment risk. As interest rates rise, the value of fixed-income securities falls. In addition to the Fund's operating expenses, you will indirectly bear the operating expenses of the underlying funds. Each underlying fund may engage in active and frequent trading, resulting in higher portfolio turnover and transaction costs. As a nondiversified fund, it is permitted to invest a higher percentage of its assets in any one issuer than a diversified fund, which may magnify the Fund's losses from events affecting a particular issuer. The model used to manage a fund's assets provides no assurance that the recommended allocation will either maximize returns or minimize risks. There is no assurance that a recommended allocation will prove the ideal allocation in all circumstances. Derivatives, such as options and futures, can be illiquid, may disproportionately increase losses, and have a potentially large impact on Fund performance. Certain of the underlying funds may engage in short selling, which is a speculative strategy that involves special risks. 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.

Meet your Global Asset Allocation manager

Steven Bleiberg, with 26 years of investment industry experience, leads the team that manages your Fund.

He's part of the investment team at Legg Mason Global Asset Allocation(LMGAA). LMGAA focuses exclusively on strategic and tactical allocation using a multi-manager, fund-of-funds structure. Based in New York City, they provide active portfolio management using a disciplined methodology driven by proprietary research.

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