The fund is sub-advised by Batterymarch Financial Management. The new fund will be an important product focus for Legg Mason’s funds distribution arm, directed at individual investors as well as 401K and other defined contribution programs.
According to Legg Mason the new fund may be appropriate for retail investors who seek additional return from active managers, want to diversify their portfolios and understand the risks and rewards associated with shorting. It is also a vehicle for institutions that are interested in adding potential alpha-seeking strategies to their overall asset allocation but do not have prime brokerage relationships.
Brian Chiappinelli, manager and product specialist for Batterymarch Financial Management, said: After seeing much demand for the 130/30 product among institutional investors, we are excited to roll out a vehicle for retail and smaller institutional investors.
