Brandywine Global Wins Institutional Investor's Large-Cap Value Equity Investment Management Award

PHILADELPHIA--(BUSINESS WIRE)--

Brandywine Global Investment Management, LLC, a wholly owned subsidiary of Legg Mason, Inc. LM, announced today that the Dynamic Large-Cap Value Equity strategy, managed by Michael Fleisher, Henry Otto and Steven Tonkovich, received an Institutional Investor U.S. Investment Management Award.

This is Institutional Investor's 7^th year of the award, which recognizes U.S. institutional investors whose innovative strategies and fiduciary savvy resulted in impressive returns in 2015. Winners of the award stand out in the eyes of the investor community for their exceptional performance, risk management and service.

"We are honored to have won this award in the large-cap value equity space for the second year in a row," says Michael Fleisher, portfolio manager for the strategy. "Institutional Investor is a highly regarded media outlet within the industry and such recognition is a welcomed privilege."

Dynamic Large-Cap Value offers a purely model-based approach to large-cap value investing based on the Diversified Equity team's detailed research into historical factor movements that describe market returns. The strategy is based on historical modeling and consistently rotates into segments of the investable universe that its managers believe offer an attractive combination of inexpensive earnings valuation and fundamental strength. The strategy also employs a proprietary timing tool to adjust between broad- and deep-value modes.

About Brandywine Global

Brandywine Global Investment Management, LLC ("Brandywine Global") offers a broad array of fixed income, equity, alternatives, and asset allocation strategies that seek value across global markets. Founded in 1986 by a group of highly experienced portfolio managers, the firm has been a wholly owned affiliate of Legg Mason, Inc. since 1998 but operates independently. The firm manages $70 billion as of March 31, 2016 for institutional and high net worth investors, with headquarters in Philadelphia and office locations in San Francisco, Montreal¹, Toronto¹, Singapore² and London³. Brandywine Global pursues one investment approach: value investing. Through practical experience, we have determined that value-style investing — whether in equity, alternatives, or fixed income markets, in the U.S. or internationally — can provide solid risk-adjusted returns over full investment cycles, and it is a particularly important strategy in today's global markets.

About Legg Mason

Legg Mason, Inc. is a global asset management firm with assets under management of $670 billion as of March 31, 2016. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, MD and its common stock is listed on the New York Stock Exchange LM.

© 2016 Brandywine Global Investment Management, LLC

All investments involve risk. Equity securities are subject to price fluctuation and possible loss of principal. Past performance is no guarantee of future results.

¹ Brandywine Global Invest Management (Canada), ULC
² Brandywine Global Investment Management (Asia) Pte. Ltd
³ Brandywine Global Investment Management (Europe)

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