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Mark R. Fetting to Present at the 2009 Bank of America Merrill Lynch Banking & Financial Services Conference.
(AP Photo/Keith Srakocic, file) FILE - In this Aug. 16, 2006 file photo, Nelson Peltz of Trian Group, Heinz's second-largest investor, addresses shareholders during the annual meeting in Pittsburgh. Legg Mason Inc. said Monday, Oct.
Billionaire activist investor Nelson Peltz will be elected to Legg Mason's board, the U.S. asset manager said on Monday, in a move that would avoid a proxy fight for the next two years.
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NEW YORK, Nov 05, 2009 (BUSINESS WIRE) --
Western Asset High Income Fund Inc., which is listed on the New York Stock Exchange under the symbol "HIF", today announced the financial position of the Fund as of September 30, 2009.
Current Qtr Previous Qtr Prior Yr Qtr
September 30, 2009 June 30, 2009 September 30, 2008
Total Net Assets $45,144,566 $40,015,230 $43,210,715
NAV Per Share of Common Stock (a) $8.74 $7.75 $8.41
Market Price Per Share $9.06 $7.70 $6.64
Premium / (Discount) 3.66% (0.65)% (21.05)%
Outstanding Shares 5,165,973 5,160,432 5,140,713
Total Net Investment Income (b) $1,156,135 $1,075,541 $1,096,464
Total Net Investment Income Per Share (b) $0.22 $0.21 $0.21
Total Net Realized/Unrealized Gain/(Loss) (b) $5,087,306 $7,039,763 $(5,979,689)
Total Net Realized/Unrealized Gain/(Loss) Per Share (b) $0.98 $1.36 $(1.16)
Undistributed Net Investment Income (c) $830,299 $835,480 $694,424
Undistributed Net Investment Income
Per Share (c) $0.16 $0.16 $0.14
Footnotes:
(a) NAVs are calculated as of the close of business on the last business
day in the periods indicated above.
(b) For the quarter indicated.
(c) As of the period indicated above.
This financial data is unaudited.
The Fund files its semi-annual and annual reports with the Securities and Exchange Commission as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year on Form N-Q. These reports are available on the Commission's website at www.sec.gov. To obtain information on Form N-Q or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102.
Western Asset High Income Fund Inc., a diversified, closed-end investment management company, is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Legg Mason, Inc., and is sub-advised by Western Asset Management Company, an affiliate of the investment manager.
Contact the Fund at 1-888-777-0102 for additional information, or consult the Fund's website at www.leggmason.com/cef.
All data and commentary provided within this press release is for informational purposes only. Legg Mason, Inc. and all of its affiliates do not engage in selling any of the shares of the Fund. The Fund's common shares are traded on the New York Stock Exchange.
SOURCE: Western Asset High Income Fund Inc.
Legg Mason & Co., LLC Brenda Grandell, 1-212-857-8087 Director, Closed-End Funds
Tags: advisor annual report business investment market schedule
Companies: Salomon Brothers High Income Fund, Inc. (HIF)
BALTIMORE, Nov. 3, 2009 (Canada NewsWire via COMTEX) --
Mark R. Fetting, Chairman and CEO of Legg Mason, Inc. (NYSE: LM), is scheduled to speak at the 2009 Bank of America Merrill Lynch Banking & Financial Services Conference in New York City on Wednesday, November 11th at approximately 11:20 a.m. E.S.T.
Both live and on-demand versions of the audio webcast will be available. A link to the presentation slides and webcast will be accessible through the firm's Web site at leggmason.com under the "Investor Relations" section. The on-demand audio webcast will be available shortly after the presentation for a period of two weeks.
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About Legg Mason
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Legg Mason is a global asset management firm with $703 billion in assets under management as of September 30, 2009. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).
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SOURCE: Legg Mason, Inc.
Mary Athridge of Legg Mason, Inc., +1-212-805-6035, mkathridge@leggmason.com Web Site: http://www.leggmason.com
Tags: bank banking ceo conference financial services new_york nyse web
Companies: Legg Mason, Inc. (LM)
Oct 23, 2009 (SmarTrend(R) Spotlight via COMTEX) --
Legg Mason (NYSE:LM) upgraded to Neutral from Underperform at Credit Suisse. The stock closed yesterday at $30.71 on volume of 4,784,900 shares, above average daily volume of 2,975,423.
Legg Mason is currently above its 50-day moving average of $29.79 and above its 200-day moving average of $22.31.
SmarTrend is bullish on shares of LM and our subscribers received an Uptrend alert on March 13, 2009 at $14.43, which has returned 112.9% to date.
Write to Chip Brian at cbrian@tradethetrend.com
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Companies: Legg Mason, Inc. (LM)
BALTIMORE, Oct. 26, 2009 (Canada NewsWire via COMTEX) --
Legg Mason, Inc. (NYSE: LM) announced today that Nelson Peltz, Chief Executive Officer and a founding partner of Trian Fund Management, L.P., ("Trian Partners") will be elected to the Company's Board of Directors, expanding the Board to 14 members, including 13 independent directors. He will be elected on Tuesday, October 27, 2009.
Mark R. Fetting, Legg Mason's Chairman and Chief Executive Officer, said, "We welcome Nelson, whose firm is a significant investor in Legg Mason, as the newest member of our Board of Directors. We look forward to benefiting from his insights and experience as we work together to build greater value for our clients and our shareholders."
Mr. Peltz commented, "Over the past several months, my colleagues and I have been engaged in constructive dialogue with Mark Fetting and other members of the Legg Mason management team. We share their view that Legg Mason's recent strategic initiatives are improving the Company's operating performance and I look forward to contributing as a Board member and working with the management team and the Board to help this great company achieve its full potential."
Mr. Peltz also serves as a director of H. J. Heinz Company, is non-executive Chairman of the Board of Wendy's/Arby's Group, Inc. (formerly Triarc Companies, Inc.) and is Chairman of the Board of Trian Acquisition I Corp. From April 1993 through June 2007, he served as Chairman and Chief Executive Officer of Triarc, which during that period of time owned Arby's Restaurant Group, Inc. and the Snapple Beverage Group, as well as other consumer and industrial businesses.
The addition of Mr. Peltz to the Board reflects an agreement between Legg Mason and Trian Fund Management, L.P., certain funds managed by it and certain of its affiliates. In addition, pursuant to the agreement, Trian Partners has agreed to vote its shares in favor of Legg Mason's director nominees as provided in the agreement and made certain other commitments. The full text of the agreement with Trian Partners is available to the public as an Exhibit to the Form 8-K that the company is filing with the Securities and Exchange Commission.
Trian Partners owns 6,946,756 shares, or approximately 4.3% of Legg Mason's outstanding common stock.
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About Legg Mason
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Legg Mason is a global asset management firm, with $703 billion in assets under management as of September 30, 2009. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).
This release contains forward-looking statements subject to risks, uncertainties and other factors that may cause actual results to differ materially. For a discussion of these risks and uncertainties, see "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Legg Mason's Annual Report on Form 10-K for the fiscal year ended March 31, 2009.
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SOURCE: Legg Mason, Inc.
Media, Mary Athridge, +1-212-805-6035; or Investors, Alan Magleby, +1-410-454-5246 Web Site: http://www.leggmason.com
Tags: acquisition annual report ceo consumer executive industrial nyse
Companies: Legg Mason, Inc. (LM)
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The excellent business site Footnoted, run by Michelle Leder, makes a nice catch today on executive compensation. Leder's m.o. is digging through securities filings to come up with the good parts, and she gets that here. She finds Legg Mason twisting this way and that to justify paying its CEO a
http://www.cjr.org/the_audit/footnoted_ferrets_out_legg_mas.php
Legg Mason Investments provides a variety of UK domiciled and Dublin domiciled mutual funds that span fixed income and equity markets around the world. To access information on these funds, please click on the button below.
AboutParent Company: Legg Mason IncorporatedYear Established: 1983Number of Employees: 61 In
Interview with Steven Bleiberg of Legg Mason Global Asset Allocation (Bloomberg News) http://www.clipsyndicate.com/video/playlist/1998/1002527?cpt=8&wpid=523
http://www.zibb.com/article/5364161/Video+Inside+Look+Legg+Mason+Midyear+Investment+Outlook
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http://www.business.com/directory/financial_services/asset_management/legg_mason_inc/
Add to Portfolio. Legg Mason Incorporated; Go to your Portfolio » Legg Mason joins a growing list of asset managers that have cut nearly 4,000 ...
We are currently in a period of unprecedented volatility in the markets. As events unfold, Legg Mason's independent portfolio managers will respond with timely insights including conference call updates and commentaries.
http://www.leggmason.com/INDIVIDUALINVESTORS/resources/conference_call_replays.aspx