Value Equity is designed for investors seeking long-term capital appreciation through an investment in a concentrated portfolio of large cap securities trading at a significant discount to our assessment of their expected value. Value Equity adheres to a rigorous investment process that is focused on identifying expectations gaps, which are situations where the market’s normally efficient pricing mechanism has broken down due to behavioral influences or market uncertainty about a company’s prospects.
* Includes Mutual Funds, Registered and Non-Registered Accounts as of 03/31/08.
** Legg Mason Investor Services, LLC is the distributor of this fund. LMIS is a subsidiary of Legg Mason, Inc.
