Top 5 Legg Mason Mutual Funds - Best of Fund Family

Legg Mason is one of the world's largest asset managers with assets under management of $663 billion. It uses a multi-affiliate business model to provide a wide range of financial services to individual and institutional investors in 190 countries across six continents. The affiliates operate with a high degree of autonomy each utilizing its own unique approach and processes. The company complements the operations of its affiliates by providing distribution and client services as well as support in areas such as operations, technology and accounting.

Below we will share with you 5 top rated Legg Mason funds. Each has earned a Zacks #1 Rank (Strong Buy) as we expect the fund to outperform its peers in the future. To view the Zacks Rank and past performance of all Legg Mason funds, then click here.

Legg Mason Western Asset Municipal High Income A (STXAX) utilizes the majority of its assets to purchase municipal securities, the interest income from which is exempt from tax. A maximum of 20% of its assets may be invested in instruments which are subject to federal income tax. The fund returned 3.68% over the last one year period.

The Legg Mason mutual fund has a minimum initial investment of $1,000 and an expense ratio of 0.77% compared to a category average of 1.04%.

Legg Mason Western Asset Strategic Income A (SDSAX) seeks high current income by investing in a wide range of domestic and foreign fixed-income securities. Up to 50% of its assets may be invested in securities rated below investment grade. The fund has a three year annualized return of 10.65 %.

Mark C. Lindbloom is the fund manager and he has managed this Legg Mason mutual fund since 2006.

Legg Mason ClearBridge Aggressive Growth A (SHRAX) invests in equity securities of companies, the performance of which must be better than the average earnings growth of firms which make up the S&P 500. It may invest a large proportion of its assets in small and mid-cap companies. The fund returned 30.36% over the last one year period.

The Legg Mason mutual fund has a minimum initial investment of $1,000 and an expense ratio of 1.29% compared to a category average of 1.31%.

Legg Mason Investment Counsel Financial Services (SBFAX) seeks capital growth over the long term. A large share of the fund's assets is utilized to purchase securities issued by companies form the financial services industry. The fund has a ten year annualized return of 2.25%.

As of June 2011, this Legg Mason mutual fund held 51 issues, with 3.09% of its total assets invested in Territorial Bancorp Inc.

Legg Mason Western Asset Managed Municipals A (SHMMX) invests heavily in municipal securities. The fund focuses on acquiring intermediate term and long-term securities issued by municipal bodies. Not more than 20% of is assets may be utilized to purchase bonds rated below investment grade. The fund returned 3.14% over the last one year period.

Stephen A. Walsh is the fund manager and he has managed this Legg Mason mutual fund since 2007.

To view the Zacks Rank and past performance of all Legg Mason mutual funds, then click here.

About Zacks Mutual Fund Rank

By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward. Learn more about the Zacks Mutual Fund Rank at http://www.zacks.com/funds.