ClearBridge Energy MLP Opps Ord

The Funds investment objective is to provide long-term investors a high level of total return with an emphasis on cash distributions. Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in securities of MLPs in the energy sector. For purposes of the 80% policy, the Fund considers investments in MLPs to include investments that offer economic exposure to public and private MLPs in the form of equity securities of MLPs, securities of entities holding primarily general partner or managing member interests in MLPs, indirect interests in MLPs (such as I-Shares) and debt securities of MLPs. The Fund considers an entity to be within the energy sector if it derives at least 50% of its revenues from the business of exploring, developing, producing, gathering, transporting, processing, storing, refining, distributing, mining or marketing natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal. Currently and as the Fund makes its initial investments, the Fund intends to focus its investments in MLPs with operations in crude oil, natural gas liquids and refined products infrastructure. This reflects ClearBridges current belief that the combination of structurally higher global oil prices and the increased supply of domestic oil and natural gas liquids - due primarily to recent shale gas discoveries - makes MLPs focused on these liquid products well positioned for long term growth. While ClearBridge currently anticipates that liquid product-related infrastructure MLPs will be the Funds primary focus, the dynamic nature of the energy markets may create new and potentially more attractive opportunities over time. Should macro energy, political, regulatory or tax considerations evolve, and other types of MLPs become more attractive, ClearBridge may look to invest in these new opportunities. In addition, changes in energy markets or related adverse political, regulatory or tax developments could cause these beliefs and expectations to not be realized. For as long as Energy MLP Opportunity is in the name of the Fund, the Fund will invest at least 80% of its Managed Assets in the MLPs in the energy sector. The Fund may not change its policy to invest at least 80% of its Managed Assets in MLPs in the energy sector unless it provides stockholders with at least 60 days written notice of such change. The Fund may invest up to 20% of its Managed Assets in securities of issuers that are not MLPs. This 20% allocation may be in any of the securities described in this Prospectus and the SAI, including securities of non-MLP companies engaged primarily in the energy sector. Such issuers may be treated as corporations for United States federal income tax purposes and, therefore, may not offer the tax benefits of investing in MLPs.

Key stats

Management firm  Legg Mason
Domicile  United States
Global Branding Name  Legg Mason
12 month yield  3.93%
Fund currency  USD
Launch Date  2011-06-10
ISIN  US18469P1003
SEDOL  B4RFDF1
Manager 1 Name  Richard Freeman
Manager 2 Name  Michael Clarfeld
Fund Strategy  Energy Limited Partnership
Fund Structure  Closed Ended Investment Company
UCITS 3 compliant  no

Performance/Volatility

Return Date  2014-06-30
Return - 1 Month  5.92%
Return - 2 Months  10.05 %
Return - 3 Months  14.01%
Return - 6 Months  17.86 %
Return - 9 months  24.17 %
Return - 12 Months  23.35%
Annualized return 24 months  27.12 %
Annualized return 36 months  19.84 %
Annualized return 48 months  0.00 %
Annualized return 60 months  0.00 %
Return 120 months  0.00 %
Annualized return since Inception  19.97%
Return YTD  17.86%

Ratings

Morning Star Rating Date   2014-06-30
Morning Star Rating - 36 Months  fund has a 3 star rating fund has a 3 star rating fund has a 3 star rating
Morning Star Rating - Overall  fund has a 3 star rating fund has a 3 star rating fund has a 3 star rating

Charges

Initial  0.00 %
Maximum Managment Charge  1.00 %
Exit charge  0.00 %
Performance Fee  0.00 %

Contact

Contact Address  Legg Mason/Western
Contact Address 2  100 International Drive
Contact Address 3  Baltimore, MD 21202
Contact city  Baltimore
Contact country  United States
Fund Admin Group  Legg Mason
Web Address  www.leggmason.com
Custodian  State Street Bank & Trust Co
Phone  1-877-721-1926

Price

Last Price Date  2014-07-03
Pre-tax nav  25.07
Pre-tax offer  0.00
Pre-tax bid  0.00
Pre-tax mid  0.00
Post-tax nav  0.00
Post-tax offer  0.00
Post-tax bid  0.00
Price change  $-0.28
Price change (percentage)  -1.10 %
Guaranteed NAV  0.00000
Close Price  0.00

Funds Disclaimer

© 2011 - Morningstar UK Limited. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed (save (i) as incidentally necessary in the course of viewing it on-line (ii) in the course of printing off single copies of web pages on which it appears for the use of those authorised to view it on-line), or adapted in any way (3) is not warranted to be accurate, complete or timely. This Morningstar-sourced information is provided to you by GFM Ltd and is at your own risk. You agree that Morningstar and or GFM Ltd are not responsible for any damages or losses arising from any use of this information and that the information must not be relied upon by you the user without appropriate verification. GFM Ltd informs you as follows: (i) The information provided should not form the sole basis of any investment decision (ii) no investment decision should be made in relation to any of the information provided other than on the advice of a professional financial advisor; (iii) past performance is no guarantee of future results; and (iv) the value and income derived from investments can go down as well as up.
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Ratings Disclaimer

© 2010 - 2011 Morningstar UK Limited. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
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