Legg Mason Inc. announced Friday the renaming of nearly all Smith Barney mutual funds as Legg Mason Partners funds.
The renaming formally begins the integration of the former Citigroup Asset Management fund family into the new Legg Mason Partners family. The Partners brand was created this year specifically for the former Smith Barney mutual funds. Legg Mason closed its purchase of the Citigroup unit on Dec. 1.
A small number of the Smith Barney funds are not immediately affected by the name change, the Baltimore asset management company said. Most Smith Barney retail money market funds and the Smith Barney Puerto Rico fund family will retain their names for the time being and be renamed in the future. In addition, Smith Barney-branded variable annuity portfolios are to be renamed on May 1.
At Dec. 31, Legg Mason managed about $850 billion of assets.
