Our goal1
Long-term capital growth
What we invest in
The Fund invests primarily in equity securities of large-capitalization companies selling significantly below their expected value due to market inefficiencies or uncertainties about the company. The Fund may invest in companies of any size and can invest up to 25% of total net asset value in debt securities.
Our approach
The Fund's manager uses a value-investment discipline to determine when a company’s stock price represents a large discount to his assessment of the company’s intrinsic value (the value of all the qualitative and quantitative aspects of the company's business). To determine intrinsic value, the manager focuses on a company's cash earnings, discounting projected future cash flows to see what they are worth today. The manager takes a long-term approach, generally holding securities for long periods to realize the growth potential, resulting in relatively low portfolio turnover.
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, social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. 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. The fund may focus its investments in certain regions or industries, increasing its vulnerability to market volatility.
Additional risks may include those risks associated with investing in fixed income and high yield securities. Please see the prospectus for more information.
Meet your Legg Mason Capital Management managers
Bill Miller, CFA, with over 28 years of investment industry experience, is your Fund’s portfolio manager, and Mary Chris Gay, with over 22 years of investment industry experience, is your assistant portfolio manager. They are part of Legg Mason Capital Management (LMCM), Legg Mason's valuation-driven investment manager.
LMCM offers investors six distinctive investment strategies. Founded in 1982, LMCM uses an exhaustive research process that focuses on challenging market assumptions, blending classic valuation analysis and traditional and nontraditional learning.
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.
Category: Large-Cap Core Funds
Rankings Details >
| CLASS | NASDAQ | CUSIP |
| A | LGVAX | 524659505 |
|
| C | LMVTX | 524659109 |
|
| FI | LMVFX | 524659307 |
|
| I | LMNVX | 524659208 |
|
| R | LMVRX | 524659406 |
|
Past performance is no guarantee of future results. Each fund is ranked based on average annual total returns assuming reinvestment of dividends and capital gains, distributions, at net asset value and the deduction of all fund expenses. Each fund is ranked within a universe of funds similar in portfolio characteristics and capitalizations as defined by Lipper Inc. Rankings do not include the effect of the fund's sales charges. Results would have been less favorable had sales charges been included. A high Lipper ranking does not necessarily imply that a fund achieved positive results for the period. Lipper Inc. is a nationally recognized organization that ranks the performance of mutual funds.
Prior to October 5, 2009, the Fund was known as Legg Mason Value Trust. The Fund's investment objective, portfolio managers and investment strategy have not changed. Please see the prospectus for details.
Morningstar ratings are only shown for those funds that have achieved a 4 or 5 star rating.Lipper Top Quartile rankings are shown for those funds that are ranked in the top 25% of their Lipper category.
1There is no guarantee that the Fund’s objective will be met.
Information on Sales Charges, Breakpoints, Sales Charge Waivers and Exchanges
Click here for more information about:
Class A shares:
- what are the front-end sales loads charged on the purchase of Class A shares
- how to qualify for reduced sales charges or breakpoints
- what kinds of accounts can be combined to qualify for reduced sales charges
- what waivers of front-end sales charges are available
Class C shares:
- what are the contingent deferred sales charges payable upon redemption
- what waivers of deferred sales charges are available
Exchange privileges:
- which funds are exchangeable
- what conditions are applicable
Other share classes may be available for which sales charges, breakpoints, sales charge waivers and exchanges may differ. Please speak to a financial professional or click on the link above.
Exchange Privileges: Many mutual funds that charge front-end sales loads offer a discount on the sales loads for a large investment. The investment levels required to obtain a reduced sales load are commonly referred to as "breakpoints." Typically, you may be entitled to a lower front-end load based on a single transaction if the dollar amount exceeds one or more breakpoints. In addition, some funds offer discounts based on purchases made over time, under a right of accumulation or letter of intent. The criteria for breakpoints for each mutual fund are set out in the fund prospectus and statements of additional information. FINRA issued an Investor Alert to ensure that investors better understand how breakpoints work and what you may need to know to make sure that, should you purchase shares eligible for breakpoints, you are charged the lowest possible front-end sales charge. Visit the
FINRA Website to read the FINRA Investor Alert.
Diversification does not assure a profit or protect against market loss.
INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
All investments involve risk, including possible loss of principal.Investors should consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about a fund. To obtain a free prospectus, please view the product specific page on this website and click on the prospectus link. An investor should read the prospectus carefully before investing.All investment managers mentioned are subsidiaries of Legg Mason, Inc. Legg Mason Investor Services, LLC, is a subsidiary of Legg Mason, Inc.
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FINRA,
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