Legg Mason said Monday that it would begin offering retirement-class shares on Friday in 11 flagship funds managed by its investment subsidiaries.
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Investors in small to midsize retirement plans can invest under the program in portfolios managed by Legg Mason Capital Management, ClearBridge Advisors, Western Asset Management, and Batterymarch Financial Management, all units of the Baltimore investment management company.
Legg Mason already offered share-class pricing options targeted to medium and large retirement plans, as well as micro-market plans, but the new "R shares" will "better serve the needs of small to medium-sized retirement plans," the company said in a press release.
Legg Mason had $891 billion under management at Sept. 30.
