Legg Mason Inc (NYSE: LM), the Baltimore-based asset manager, finally joined the fast growing exchange-traded funds industry Tuesday with the launch of four ETFs. The Legg Mason ETFs, which trade under that brand, were launched in partnership with the firm's investment affiliate QS Investors.
“Three of the new funds take a macro approach to building portfolios and balancing risk to deliver broad market exposure that can complement core portfolios. Based upon QS Investors' proprietary rules-based methodology, Diversification Based Investing (DBI), the new funds are predicated on the understanding that capitalization-weighted indices are not balanced across opportunities and risks in the market place.
“Better diversification across macro exposures, like geography and economic sector can improve risk/return characteristics and mitigate unintended bets and therefore potentially lower drawdowns during macro-economic events,” said Legg Mason in a statement.
Legg ...
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