The company’s board of directors took the decision to integrate seven MCGF Luxembourg domiciled sub-funds into the Ireland-domiciled LMGF sub-funds, with the official merger taking place on 11 March 2016.
Legg Mason acquired Martin Currie as a wholly owned and independently managed affiliate in October 2014.
According to a statement issued by Legg Mason, the management of all the funds will remain unchanged as will their current investment objectives.
Economies of scale
Adam Gent, head of UK sales at Legg Mason, said: “We have taken the decision to merge these funds into the Legg Mason Global Fund range. The decision has been taken with the clients’ interests in mind since the economies of scale provided by Legg Mason will greatly benefit the clients.”
Andy Sowerby, head of sales at Martin Currie, added: “Our partnership with Legg Mason enables us to leverage their scale in both operations and distribution to the ultimate benefit of our clients.”
The seven affected funds are as follows:
- Legg Mason Martin Currie Global Funds (GF) Asia Long-Term Unconstrained Fund
- Legg Mason Martin Currie Global Funds (GF) Asia Pacific Fund
- Legg Mason Martin Currie Global Funds (GF) Global Resources Fund
- Legg Mason Martin Currie Global Funds (GF) Greater China Fund
- Legg Mason Martin Currie Global Funds (GF) North America Fund
- Legg Mason Martin Currie Global Funds (GF) European Absolute Alpha Fund
- Legg Mason Martin Currie Global Funds (GF) Japan Absolute Alpha Fund.
