Following its acquisition of Martin Currie in 2014, British asset manager Legg Mason has announced that the Martin Currie fund range have been merged into its $671.5bn (€604.13) Legg Mason’s global fund range with immediate effect.
The merger affects seven Martin Currie Funds, including four Asia funds, one North America, one European and one Global Resources fund.
According to Legg Mason, the merger has been carried out in a bid to enhance economies of scale, all funds will retain their current investment objectives and the management of the funds will also remain unchanged.
Andy Sowerby, executive director and head of Sales, Marketing and Client Service 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. By merging our cross-border UCITs funds into the Legg Mason Global Funds range our clients immediately benefit from lower ongoing costs and each funds distribution reach is greatly enhanced.”