Legg Mason announced today that Bill Miller is stepping down from the Legg Mason Value Trust mutual fund at the end of April, after running the fund for nearly 30 years.

Miller will remain as chairman of Legg Mason Capital Management, but relinquish the title of chief investment officer to Sam Peters. Peters will also take the role of sole portfolio manager of LMCM Value Trust. Mary Chris Gay will also continue to serve as assistant portfolio manager for Value Trust, providing senior research and investment advice, the firm said.

Legg Mason: Bill Miller stepping down from Value Trust fund

Bill Miller will step down as chief investment officer at Legg Mason after running the fund for 30 years

Dow Jones Newswires

Legg Mason

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