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Legg Mason Funds
Fund Name Fact Cards Product
Commentary
Summary
Prospectus
Prospectus SAI Annual
Report
Semi-Annual
Report
Legg Mason Batterymarch Emerging Markets Trust
Legg Mason Batterymarch Global Equity Fund N/A
Legg Mason Batterymarch International Equity Trust
Legg Mason Batterymarch Managed Volatility Global Dividend Fund N/A
Legg Mason Batterymarch Managed Volatility International Dividend Fund N/A
Legg Mason Batterymarch S&P 500 Index Fund N/A
Legg Mason Batterymarch U.S. Large Cap Equity Fund N/A
Legg Mason Batterymarch U.S. Small Capitalization Equity Portfolio N/A
Legg Mason BW Absolute Return Opportunities Fund N/A
Legg Mason BW Alternative Credit Fund N/A N/A N/A
Legg Mason BW Diversified Large Cap Value Fund N/A
Legg Mason BW Global High Yield Fund N/A N/A
Legg Mason BW Global Opportunities Bond Fund
Legg Mason BW International Opportunities Bond Fund N/A
Legg Mason Dynamic Multi-Strategy Fund N/A
Legg Mason Investment Counsel Financial Services Fund N/A
Legg Mason Investment Counsel Maryland Tax-Free Income Trust N/A
Legg Mason Investment Counsel Social Awareness Fund N/A
Legg Mason Lifestyle Allocation 30% N/A
Legg Mason Lifestyle Allocation 50% N/A
Legg Mason Lifestyle Allocation 70% N/A
Legg Mason Lifestyle Allocation 85% N/A
Legg Mason Opportunity Trust
Legg Mason Strategic Real Return Fund
Legg Mason Target Retirement 2015 N/A
Legg Mason Target Retirement 2020 N/A
Legg Mason Target Retirement 2025 N/A
Legg Mason Target Retirement 2030 N/A
Legg Mason Target Retirement 2035 N/A
Legg Mason Target Retirement 2040 N/A
Legg Mason Target Retirement 2045 N/A
Legg Mason Target Retirement 2050 N/A
Legg Mason Target Retirement Fund N/A
Miller Income Opportunity Trust N/A N/A N/A N/A N/A

 

Permal Funds
Fund Name Fact Cards Product
Commentary
Summary
Prospectus
Prospectus SAI Annual
Report
Semi-Annual
Report
Permal Hedge Strategies Fund Inst Shares
Serv Shares
Broker Shares
N/A Inst Shares
Serv Shares
Broker Shares
N/A
Permal Alternative Core Fund
Permal Alternative Select Fund N/A N/A N/A N/A N/A
Royce Funds
Fund Name Product
Commentary
Summary
Prospectus
Prospectus   SAI   Annual
Report
Semi-Annual
Report
Royce 100 Fund N/A Inv
Serv
R
K
Inv Shares
Serv Shares
R Shares
K Shares
Inv
Serv
R
K
Inv
Serv
R
K
Inv
Serv
R
K
Royce Dividend Value Fund N/A Inv
Serv
Inv Shares
Serv Shares
Inv
Serv
Inv
Serv
Inv Shares
Serv Shares
Royce European Smaller-Companies Fund N/A Serv Serv Shares Serv Serv Serv Shares
Royce Financial Services Fund N/A Serv Serv Shares Serv Serv Serv Shares
Royce Focus Value Fund N/A Serv Serv Shares Serv Serv Serv Shares
Royce Global Dividend Value Fund N/A Serv Serv Shares Serv Serv Serv Shares
Royce Global Value Fund N/A Inv
Serv
Cons
R
K
Inv Shares
Serv Shares
Cons Shares
R Shares
K Shares
Inv
Serv
Cons
R
K
Inv
Serv
Cons
R
K
Inv Shares
Serv Shares
Cons Shares
R Shares
K Shares
Royce Heritage Fund N/A Inv
Serv
Cons
R
K
Inv Shares
Serv Shares
Cons Shares
R Shares
K Shares
Inv
Serv
Cons
R
K
Inv
Serv
Cons
R
K
Inv Shares
Serv Shares
Cons Shares
R Shares
K Shares
Royce International Micro-Cap Fund N/A Serv Serv Shares Serv Serv Serv Shares
Royce International Premier Fund N/A Serv Serv Shares Serv Serv Serv Shares
Royce Low-Priced Stock Fund N/A Inv
Serv
Inst
R
K
Inv Shares
Serv Shares
Inst Shares
R Shares
K Shares
Inv
Serv
Inst
R
K
Inv
Serv
Inst
R
K
Inv Shares
Serv Shares
Inst Shares
R Shares
K Shares
Royce Micro-Cap Discovery Fund N/A Serv Serv Shares Serv Serv Serv Shares
Royce Micro-Cap Fund N/A Inv
Serv
Cons
Inv
Serv
Cons
Inv
Serv
Cons
Inv
Serv
Cons
Inv Shares
Serv Shares
Cons Shares
Royce Opportunity Fund N/A Inv
Serv
Inst
Cons
R
K
Inv Shares
Serv Shares
Inst Shares
Cons Shares
R Shares
K Shares
Inv
Serv
Inst
Cons
R
K
Inv
Serv
Inst
Cons
R
K
Inv Shares
Serv Shares
Inst Shares
Cons Shares
R Shares
K Shares
Royce Pennsylvania Mutual Fund N/A Inv
Serv
Inst
Cons
R
K
Inv Shares
Serv Shares
Inst Shares
Cons Shares
R Shares
K Shares
Inv
Serv
Inst
Cons
R
K
Inv
Serv
Inst
Cons
R
K
Inv Shares
Serv Shares
Inst
Cons Shares
R Shares
K Shares
Royce Premier Fund N/A Inv
Serv
Inst
Cons
R
K
W
Inv Shares
Serv Shares
Inst Shares
Cons Shares
R Shares
K Shares
W Shares
Inv
Serv
Inst
Cons
R
K
W
Inv
Serv
Inst
Cons
R
K
W
Inv Shares
Serv Shares
Inst Shares
Cons Shares
R Shares
K Shares
W Shares
Royce SMId-Cap Value Fund N/A Serv Serv Shares Serv Serv Serv Shares
Royce Special Equity Fund N/A Inv
Serv
Inst
Cons
Inv Shares
Serv Shares
Inst Shares
Cons Shares
Inv
Serv
Inst
Cons
Inv
Serv
Inst
Cons
Inv Shares
Serv Shares
Inst Shares
Cons Shares
Royce Special Equity Multi-Cap Fund N/A Serv Serv Shares Serv Serv Serv Shares
Royce Total Return Fund N/A Inv
Serv
Inst
Cons
R
K
W
Inv Shares
Serv Shares
Inst Shares
Cons Shares
R Shares
K Shares
W Shares
Inv
Serv
Inst
Cons
R
K
W
Inv
Serv
Inst
Cons
R
K
W
Inv Shares
Serv Shares
Inst Shares
Cons Shares
R Shares
K Shares
W Shares
Royce Value Fund N/A Inv
Serv
Inst
Cons
R
K
Inv Shares
Serv Shares
Inst Shares
Cons Shares
R Shares
K Shares
Inv
Serv
Inst
Cons
R
K
Inv
Serv
Inst
Cons
R
K
Inv Shares
Serv Shares
Inst Shares
Cons Shares
R Shares
K Shares
Royce Value Plus Fund N/A Inv
Serv
Inst
Cons
R
K
Inv Shares
Serv Shares
Inst Shares
Cons Shares
R Shares
K Shares
Inv
Serv
Inst
Cons
R
K
Inv
Serv
Inst
Cons
R
K
Inv Shares
Serv Shares
Inst Shares
Cons Shares
R Shares
K Shares

 

Western Asset Funds
Fund Name Fact Cards Product
Commentary
Summary
Prospectus
Prospectus   SAI   Annual
Report
Semi-Annual
Report
Western Asset Adjustable Rate Income Fund N/A
Western Asset Asian Opportunities Fund N/A
Western Asset California Municipals Fund N/A
Western Asset California Tax Free Money Market Fund Class N
Class A
N/A Class N
Class A
Class N
Class A
Class N
Class A
Class N
Class A
Class N
Class A
Western Asset Connecticut Municipal Money Market Fund N/A Class N
Class A & I
Class N
Class A & I
Western Asset Core Bond Fund
Western Asset Core Plus Bond Fund
Western Asset Corporate Bond Fund N/A
Western Asset Emerging Markets Debt Fund N/A
Western Asset Global Government Bond Fund N/A
Western Asset Global High Yield Bond Fund
Western Asset Global Multi-Sector Fund N/A
Western Asset Global Strategic Income Fund N/A
Western Asset Government Reserves N/A Class A Class A
Class N
Inst Shares
Western Asset High Yield Fund N/A
Western Asset Inflation Indexed Plus Bond Fund N/A
Western Asset Institutional Cash Reserves Inv Shares
Inst Shares
Class L
Class S
N/A Inv Shares
Inst Shares
Class L
Class S
Inv Shares
Inst Shares
Class L
Class S
Inv Shares
Inst Shares
Class L
Class S
Inv Shares
Inst Shares
Class L
Class S
Inv Shares
Inst Shares
Class L
Class S
Western Asset Institutional Government Reserves N/A Inv Shares
Prem Shares
Inst Shares
Western Asset Institutional Liquid Reserves N/A Inv Shares
Admin Shares
Inst Shares
Western Asset Institutional AMT Free Municipal Money Market Fund N/A Inv Shares
Admin Shares
Inst Shares
Western Asset Institutional Tax Free Reserves N/A Inv Shares
Admin Shares
Inst Shares
Western Asset Institutional U.S. Treasury Obligations Money Market Fund N/A N/A Inv Shares
Inv Shares
Admin Shares
Inst Shares
Inv Shares
Admin Shares
Inst Shares
N/A N/A
Western Asset Institutional U.S. Treasury Reserves N/A Inv Shares
Admin Shares
Inst Shares
Western Asset Intermediate Bond Fund N/A
Western Asset Intermediate Maturity California Municipals Fund N/A
Western Asset Intermediate Maturity New York Municipals Fund N/A
Western Asset Intermediate-Term Municipals Fund
Western Asset Liquid Reserves Class N
Class A
N/A Class N
Class A,B,C
Class N
Class A,B,C
Class N
Class A,B,C
Class N Class N
Western Asset Macro Opportunities Fund N/A N/A N/A
Western Asset Managed Municipals Fund
Western Asset Massachusetts Municipals Fund N/A
Western Asset Mortgage Backed Securities Fund N/A
Western Asset Municipal High Income Fund
Western Asset Municipal High Income SMASh Fund
(only available in wrap programs). 
N/A N/A N/A N/A N/A
Western Asset New Jersey Municipals Fund N/A
Western Asset New York Municipals Fund N/A
Western Asset New York Tax Free Money Market Fund Class N
Class A
N/A Class N
Class A
Class N
Class A
Class N
Class A
Class N
Class A
Class N
Class A
Western Asset Oregon Municipals Fund N/A
Western Asset Pennsylvania Municipals Fund N/A
Western Asset Premium Liquid Reserves N/A
Western Asset Premium U.S. Treasury Reserves N/A
Western Asset Short Duration High Income Fund N/A
Western Asset Short Duration Municipal Income Fund
Western Asset Short-Term Bond Fund
Western Asset Short Term Yield Fund N/A N/A N/A N/A
Western Asset SMASh Series C Fund
(only available in wrap programs)
N/A N/A N/A N/A N/A
Western Asset SMASh Series EC Fund
(only available in wrap programs)
N/A N/A N/A N/A N/A
Western Asset SMASh Series M Fund
(only available in wrap programs)
N/A N/A N/A N/A N/A
Western Asset Tax Free Reserves Class N
Class A
N/A Class N
Class A,B,C
Class N
Class A,B,C
Class N
Class A,B,C
Class N
Class A,B,C
Class N
Class A,B,C
Western Asset Total Return Unconstrained Fund N/A
Western Asset U.S. Treasury Reserves N/A

All investments involve risk, including loss of principal. Past performance is no guarantee of future results. Please see each investment's individual web page for specific details regarding investment objective, risks, performance and other important information. Review this information carefully before you make any investment decision.

Click here for additional term definitions. An investor cannot invest directly in an index. Unmanaged index returns do not reflect any fees, expenses or sales charges. Click here for Index Definitions.

Mutual Funds:
Investors should consider the fund's investment objectives, risks, charges and expenses carefully before investing. Find this and other information in each fund's prospectus or if available, summary prospectus on the product specific pages of this website. Read it carefully before investing.

An investment in a money market fund is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.

Separately Managed Accounts (SMA):
Managed Accounts/Separately Managed Accounts (SMAs) are investment services provided by Legg Mason Private Portfolio Group, LLC (LMPPG), a federally registered investment adviser. Client portfolios are managed based on investment instructions or advice provided by one or more of the following Legg Mason-affiliated sub-advisers: ClearBridge Investments and Western Asset Management Company. Management is implemented by LMPPG, the designated sub-adviser or, in the case of certain programs, the program sponsor or its designee.

Closed-End Funds:
The Closed-End Funds are not sold or distributed by Legg Mason Investor Services, LLC ("LMIS") or any affiliate of Legg Mason, Inc. Unlike open-end funds, shares are not continually offered. Like other public companies, closed-end funds have a one-time initial public offering, and once their shares are first issued, are generally bought and sold through non-affiliated broker/dealers and trade on nationally recognized stock exchanges. Share prices will fluctuate with market conditions and, at the time of sale, may be worth more or less than your original investment. Shares of exchange-traded closed-end funds may trade at a discount or premium to their original offering price, and often trade at a discount to their net asset value. Net Asset Value (NAV) is total assets less total liabilities divided by the number of shares outstanding. Market Price, determined by supply and demand, is the price an investor purchases or sells the fund. Investment return, market price and net asset value will fluctuate with changes in market conditions. The Funds are subject to investment risks, including the possible loss of principal invested. Note that unlike other closed-end funds, Western Asset Middle Market Debt Fund is not publicly traded and is closed to new investors.

529 - Scholars Choice:
An investor should consider the Program's investment objectives, risks, charges and expenses before investing. The Program Disclosure Statement at scholars-choice.com, which contains more information, should be read carefully before investing. If an investor and/or an investor's beneficiary are not Colorado taxpayers, they should consider before investing whether their home states offer 529 plans that provide state tax and other benefits only available to state taxpayers investing in such plans.

Investments in the Scholars Choice College Savings Program are not insured by the FDIC or any other government agency and are not deposits or other obligations of any depository institution. Investments are not guaranteed by the State of Colorado, CollegeInvest, Legg Mason Global Asset Allocation, LLC, Legg Mason Investor Services, LLC, or Legg Mason, Inc. or its affiliates and are subject to investment risks, including loss of principal amount invested.

Scholars Choice® is a registered service mark of CollegeInvest. CollegeInvest and the CollegeInvest logo are registered trademarks. Administered and issued by CollegeInvest and the state of Colorado. Legg Mason Global Asset Allocation, LLC, Investment Manager. Legg Mason Investor Services, LLC is the primary distributor of interest in the Program. Legg Mason Global Asset Allocation, LLC, Batterymarch Financial Management, Inc., Brandywine Global Investment Management, LLC, ClearBridge Investments, LLC, Royce & Associates, LLC, Western Asset Management Company, and Legg Mason Investor Services, LLC are Legg Mason, Inc. affiliates. Thornburg Investment Management, Inc. is not affiliated with Legg Mason, Inc.

INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

This site is intended for U.S. individual investors only. The products and services described on this site are generally not available to non-U.S. investors.

Legg Mason Investor Services, LLC and all entities mentioned above are subsidiaries of Legg Mason, Inc.
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