LMP Capital and Income Fund makes portfolio management changes
LMP Capital and Income Fund has appointed Harry D. 'Hersh' Cohen, Peter Vanderlee and Michael Clarfeld of ClearBridge Advisors as lead portfolio managers of the fund.
As the lead portfolio managers, they are responsible for the day-to-day management of the fund's equity assets and for the allocation of the fund's assets between equity and fixed income investments.
The portfolio management team from Western Asset Management will continue to be responsible for the fund's fixed income investments.
As of 30 June 2009, ClearBridge Advisors had approximately USD47.1bn in assets under management. Cohen currently manages ClearBridge Advisors' Appreciation portfolios and Vanderlee currently manages ClearBridge Advisors' Dividend Strategy portfolios. Together, they manage ClearBridge Advisors' Equity Income Builder portfolios. Clarfeld has been with ClearBridge Advisors since 2006.
Cohen is chief investment officer, managing director and senior portfolio manager with ClearBridge Advisors, a unit of Legg Mason. He has over 40 years of investment industry experience.
Vanderlee is a managing director and portfolio manager with ClearBridge Advisors. He has ten years of investment management experience and 12 years of related investment experience.
Clarfeld is a director and portfolio manager with ClearBridge Advisors. He has ten years of investment management experience.
'These appointments reflect a careful analysis of ClearBridge's investment capabilities as we continue to examine ways to best serve our clients. Each of these managers has a proven record in managing income-oriented portfolios, and we believe that shareholders in this Fund will benefit from the insights they've gained from successful management of similar portfolios. We believe the investment expertise of this team of equity portfolio managers will complement the existing team of fixed income portfolio managers at Western Asset Management,' says Peter Sundman, chief executive officer of ClearBridge Advisors.
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