Legg Mason Global Asset Management has launched a socially responsible US equity fund to be run by its affiliate ClearBridge Investments.
The Legg Mason ClearBridge US Equity Sustainability Leaders fund will invest using a concentrated multi-cap approach that seeks financially attractive companies with demonstrated environmental, social and governance (ESG) leadership. It will be managed by ClearBridge Investments' head of ESG investment, Mary Jane McQuillen, and Derek Deutsch, who currently runs a number of mid-cap strategies for the firm. Legg Mason's subsidiary already runs almost $3bn in ESG strategies. McQuillen said: "Companies with positive ESG attributes can offer some of the best opportunities to make attractiv...
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