Update: Bill Miller rebrands fund range as LMM buyout completes

Left Legg Mason last year after 35 years

Bill Miller, one of the best-known stockpickers in the US, has completed the buyout of Legg Mason's 50% stake in joint venture LMM, more than six months after he left the firm where he had worked for 35 years.

The mutual funds managed by LMM will now be known under the new fund family name Miller Value Funds. The individual funds have been renamed the Miller Opportunity Trust (formerly Legg Mason Opportunity Trust) and the Miller Income fund (formerly Miller Income Opportunity Trust). LMM and its affiliated company, Miller Value Partners, will conduct its investment advisory businesses in close coordination under the name Miller Value Partners. Bill Miller to set up mutual fund under family name At the time of his departure in August lat year, Miller (pictured) announced his intention...