This video replay represents statements made live on December 18, 2010.
The views expressed are those of the portfolio manager as of December 18, 2010 and are subject to change based on market and other conditions. These views may differ from other portfolio managers or the firm as a whole, and are not intended to be a forecast of future events, a guarantee of future results or investment advice. The mention of any individual securities or sectors should neither constitute nor be construed as a recommendation to purchase or sell such securities, and the information provided regarding such individual securities is not a sufficient basis upon which to make an investment decision.
The information provided is intended solely to describe the managers' management style, investment strategies and securities selection process, and does not have regard to specific investment objectives, financial situation and particular needs of any specific person who may receive it. The information provided does not constitute, and should not be construed as, an offer or solicitation with respect to any securities, products or services mentioned or discussed.
All investments involve risk, including possible loss of principal. Past performance is not a guarantee of future results.
Dividend Strategy Portfolios Top Ten Holdings (%) as of 9/30/10 Microsoft Corp 4.1, Travelers Cos. Inc 4.0, 3M Co 3.9, Exxon Mobil Corp 3.9, PepsiCo Inc 3.7, Waste Management Inc 3.6, NextEra Energy Inc 3.5, PPG Industries Inc 3.5, Johnson & Johnson 3.4, Procter & Gamble Co 3.3
Portfolio Holdings are as of 9/30/10 and are subject to change at any time and are based on a representative portfolio. Holdings are of individual client portfolios in the program may differ, sometimes significantly, from those shown. This information does not constitute, and should not be construed as, investment advice or recommendations with respect to the securities and sectors listed.
Performance
For the most performance information, please visit www.leggmason.com/individualinvestors
Important Information about Risk
All investments are subject to risks, including the possible loss of principal. Please visit our website for additional information on ClearBridge Dividend Strategy, www.leggmason.com/individualinvestors.com. Yields and dividends represent past performance and there is no guarantee they will continue to be paid.
What should I know before investing?
Dividends are not guaranteed, and a company may reduce or eliminate its dividend at any time.
ClearBridge Dividend Strategy: The program manager(s) may, to a limited extent, invest in other securities entailing additional risks beyond those highlighted in this material. All investments involve risk, including possible loss of principal.
The investment process may change over time. The characteristics set forth above are intended as a general illustration of some of the criteria the strategy team considers in selecting securities for client portfolios. Not all investments in a client’s portfolio will meet such criteria.
Investments may be made in American Depositary Receipts and U.S.-traded ordinary shares of non-U.S. companies in developed and emerging markets, which involve risks in addition to those ordinarily associated with investing in domestic securities. These risks include the potentially negative effects of currency fluctuations, political and economic developments, foreign taxation and differences in auditing and other financial standards, and are magnified in emerging markets. Investments in mid- and small-cap companies tend to involve greater risk than investments in large-cap companies.
For ClearBridge Dividend Strategy Portfolios, limited investments also may be made in non-dividend paying stocks that are not expected to pay a dividend in the near future. The managers may hold significant portions of portfolio assets in cash equivalents while waiting for buying opportunities. There is no guarantee that investment objectives will be met. Dividends represent only one component of an investment. There are other factors that should be considered before making an investment decision, including investment objective, risks, fees and expenses. While dividends may be consistent, stock prices can fluctuate.
INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
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Legg Mason Investor Services, LLC and ClearBridge Advisors, LLC are subsidiaries of Legg Mason Inc.
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