Please carefully read the following disclosure, which sets out important information that you need to know and agree to in order to enter this website. You are also directed to read the Terms and Conditions of Use of this website ("Terms"), which are located at the bottom of each page of the website. By accessing this website, you agree to be bound by these Terms.
This website is directed only to residents of Canada that are "accredited investors" as defined under National Instrument 45-106 Prospectus and Registration Exemptions ("NI 45-106") and that are resident in any of the provinces or territories of Canada other than Yukon (hereinafter the "Offering Jurisdictions".) Therefore, only investors that satisfy these eligibility criteria should be accessing this website. A definition of an accredited investor is set out below.
If you wish to enter this website, please click the "Accept" button below to confirm that you have read and agree to the terms and conditions set out in this disclosure. Otherwise, click "Cancel" and you will be redirected back to your previous link.
This website is owned and operated by Legg Mason Canada. Legg Mason Canada is an indirect, wholly-owned subsidiary of Legg Mason, Inc. ("Legg Mason"), a global asset management firm headquartered in Baltimore, Maryland whose shares are listed on the New York Stock Exchange under the symbol LM. Legg Mason provides asset management services to its clients around the world through a diversified group of asset management subsidiaries (hereinafter "affiliated managers"). Each of these affiliated managers is affiliated with Legg Mason Canada through common control and ownership by Legg Mason.
Under this distinctive Legg Mason "multi-affiliate" business model, Legg Mason Canada is able to offer its Canadian resident clients a broad spectrum of equity, balanced, fixed income and liquidity solutions ranging from separately managed account strategies, Canadian domiciled pooled funds and non-Canadian domiciled funds. Legg Mason's affiliated managers operate with investment autonomy, with each affiliate pursuing its own unique investment philosophy and process and maintaining its own investment culture, in order to create sustainable value for its clients. Individually, each of these affiliated managers is a specialist in its area of expertise. Together, they provide a diversified range of investment strategies under one roof - Legg Mason.
Some of Legg Mason Canada's affiliated managers may not be registered in and may not be permitted to provide investment advice directly to clients in certain Canadian provinces and territories. In such cases, Canadian resident investors may only be able to gain access to them through Legg Mason Canada. Prior to investing, investors are directed to read Legg Mason Canada's Statement of Policies which is available on this website for more information concerning the relationship of Legg Mason Canada and its affiliated managers.
Legg Mason Canada Pooled Funds (the "Pooled Funds") are separate unincorporated trusts created under the laws of the Province of Ontario. Legg Mason Canada acts as the manager and trustee of the Pooled Funds.
The offering of units of the Pooled Funds is not, and under no circumstances is to be construed as, a public offering of such securities. The Pooled Funds are available for purchase only by investors resident in any of the Offering Jurisdictions who are "accredited investors" under NI 45-106. Prior to investing in the Pooled Funds, prospective investors will be required to attest to their eligibility to purchase units of the Pooled Funds by certifying their status as an accredited investor. The information concerning the Pooled Funds provided on this website does not constitute an offer or solicitation to anyone for whom an exemption from applicable securities laws is not available. This communication does not constitute an offer or solicitation to anyone in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. No securities commission or similar regulatory authority in Canada has in any way passed upon the merits of the securities offered nor has it reviewed the Confidential Offering Memorandum of the Pooled Funds and any representation to the contrary is an offence.
The performance of the Pooled Funds is not guaranteed, their value may change frequently and past performance may not be repeated. Pooled fund investments are not insured by the Canada Deposit Insurance Corporation or by any other government insurer and are not guaranteed by Legg Mason or Legg Mason Canada.
Although the Legg Mason Western Asset Canadian Money Market Fund ("Canadian Money Market Fund") currently seeks to maintain a constant net asset value per unit, there is no assurance that this Canadian Money Market Fund will be able to maintain its net asset value per unit at a constant amount or that the full amount of your investment in the Canadian Money Market Fund will be returned to you. The Canadian Money Market Fund is not guaranteed, its value may change and past performance may not be repeated. Units of the Canadian Money Market Fund are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer and are not guaranteed by Legg Mason or Legg Mason Canada.
The Pooled Funds, other than the Canadian Money Market Fund, may charge a fee of 2% of the amount redeemed if the investor invests in a Pooled Fund for less than 90 days. The fee will be deducted from the redemption proceeds. This fee is designed to deter excessive trading and to protect unitholders from other investors moving quickly in and out of the Pooled Funds. Frequent trading can hurt a fund's performance by forcing the portfolio manager to keep more cash in the fund than would otherwise be needed or to sell investments at an inappropriate time. It may also increase the fund's transaction costs. Short-term trading fees are paid to the affected Pooled Fund. Legg Mason Canada has the discretion to impose or waive the fee in other appropriate circumstances. These fees do not apply (i) to units received from reinvested distributions; (ii) to units sold as a result of the death of the unitholder; (iii) upon exercising a statutory right of withdrawal or rescission; or (iv) to redemptions initiated by Legg Mason Canada or by another fund.
An eligible investor should obtain and refer to the Confidential Offering Memorandum and Subscription Booklet of the Pooled Funds before investing. There are tax consequences and risks associated with investing in the Pooled Funds and prospective investors are urged to seek advice from their own tax adviser on these consequences before investing.
Legg Mason Global Funds P.l.c. (the "Company") is an open-ended investment company incorporated under the laws of the Republic of Ireland with limited liability and variable capital. The Company is structured as an umbrella investment company with segregated liability between the different sub-funds established from time to time by its board of directors with the prior approval of the Irish Financial Services Regulatory Authority. Information concerning the particular sub-funds being offered to residents of Canada is set out in the Company's Prospectus, Simplified Prospectus and the Confidential Canadian Offering Memorandum which are available on this website (hereinafter the "Funds").
Shares in any particular Fund may be divided into different classes ("Share Classes"). The Share Classes differ principally in terms of their sales charges, fees, rates of expenses, distribution policy and currency denomination. Legg Mason Canada is offering to investors resident in Canada only Premier Class US$ Accumulating Shares and LM Class US$ Accumulating Shares of each Fund. The Simplified Prospectus and other marketing materials available on this website may provide performance information on other share classes of the Funds, which are not available for purchase by Canadian investors. The performance of these share classes may differ from the Premier Class US$ Accumulating Shares and LM Class US$ Accumulating Shares of the Funds due to differences in fees, expenses, asset sizes and currency denominations of such share classes. Investors are directed to read the Funds' Prospectus and Simplified Prospectus for more information concerning the differences in such share classes with respect to expense ratios, fees, distribution policies, and share class hedging.
Shares of the Funds are available for purchase only by investors who are (1) residents of one of the Offering Jurisdictions; (2) "accredited investors" under NI 45-106; and (3) exempt from taxation in Canada under Part I of the Income Tax Act (Canada) (the "Tax Act") and the regulations thereunder and which are not subject to the "qualified investment" requirements of the Tax Act applicable to certain registered plans ("Tax Exempt Investors"). Prior to investing in the Funds, prospective investors will be required to attest to their eligibility to purchase Shares of the Funds.
The information on this website concerning the Company and its Funds does not constitute an offer or solicitation to anyone for whom an exemption from applicable securities laws is not available. This communication does not constitute an offer or solicitation to anyone in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. No securities commission or similar regulatory authority in Canada has in any way passed upon the merits of the securities offered nor has it reviewed the Prospectus, Simplified Prospectus or Confidential Canadian Offering Memorandum of the Funds and any representation to the contrary is an offence.
The performance of the Funds is not guaranteed, their value may change frequently and past performance may not be repeated. Non-Canadian domiciled fund investments are not insured by the Canada Deposit Insurance Corporation or by any other government insurer and are not guaranteed by Legg Mason or Legg Mason Canada.
The Legg Mason Canada Funds and Legg Mason Global Funds plc are not registered as investment companies in the United States under the U.S. Investment Company Act of 1940, as amended, and the units of the Pooled Funds and Shares of the Funds are not registered under the U.S. Securities Act of 1933, as amended. The Pooled Funds and Funds are not available for purchase by "U.S. Persons" as that term is defined under Regulation S of the Securities Act of 1933. This information is not intended to be construed as an offer to sell or a solicitation to buy any securities in the United States of America or the territories or possessions thereof.
The investment services of Legg Mason Canada and the Pooled Funds are available only to Canadian residents. This communication does not constitute an offer or solicitation to anyone in any other jurisdiction in which such offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should consult their advisor to determine if the Pooled Funds may be lawfully sold in their jurisdiction.
Legg Mason Canada's affiliated managers referred to in this website may not be registered in and may not be permitted to provide advice in all or any Canadian jurisdictions. Except as specifically permitted and subject to applicable restrictions and regulations, the products or services of Legg Mason Canada's affiliated managers are not offered outside their intended countries or regions. Legg Mason Canada provides access to the investment services of its non-Canadian affiliates through the Pooled Funds, non-Canadian domiciled funds and other products and services that are intended for Canadian residents only.
Certain Provinces have enacted legislation that governs how unclaimed property is to be dealt with. Generally, unclaimed property legislation requires holders of unclaimed property to make reasonable efforts to locate the owners of unclaimed property so that the property can be returned to the owner.
Legg Mason Canada is committed to complying with the legislation of any jurisdiction that has enacted legislation governing the treatment of unclaimed property. At time of writing, three provinces (British Columbia, Alberta and Quebec) have enacted unclaimed property legislation. If Legg Mason Canada is unsuccessful in its attempts to locate and notify an owner of unclaimed property whose last known address is in a jurisdiction that has enacted unclaimed property legislation and twelve months have passed since the date of the circumstance arising, the Legg Mason Canada's Chief Compliance Officer will authorize the addition of the unclaimed property into the public records. Legg Mason Canada will utilize any publicly available database in the jurisdiction established and maintained for such purpose.
If you believe you have unclaimed property please call us toll free at 1-800-565-6781.
Accredited Investor means: a) a Canadian financial institution, or a Schedule III bank; b) the Business Development Bank of Canada incorporated under the Business Development Bank of Canada Act (Canada); c) a subsidiary of any person referred to in paragraphs (a) or (b), if the person owns all of the voting shares of the subsidiary, except the voting shares required by law to be owned by directors of that subsidiary; d) a person registered under the securities legislation of a jurisdiction of Canada as an advisor or dealer, other than a person registered solely as a limited market dealer under one or both of the Securities Act (Ontario) or the Securities Act (Newfoundland and Labrador); e) an individual registered or formerly registered under the securities legislation of a jurisdiction of Canada as a representative of a person referred to in paragraph (d); f) the Government of Canada or a jurisdiction of Canada, or any crown corporation, agency or wholly owned entity of the Government of Canada or a jurisdiction of Canada; g) a municipality, public board or commission in Canada and a metropolitan community, school board, the Comit de gestion de la taxe scolaire de l'le de Montral or an inter-municipal management board in Qubec; h) any national, federal, state, provincial, territorial or municipal government of or in any foreign jurisdiction, or any agency of that government; i) a pension fund that is regulated by either the Office of the Superintendent of Financial Institutions (Canada) or a pension commission or similar regulatory authority of a jurisdiction of Canada; j) an individual who, either alone or with a spouse1 , beneficially owns, directly or indirectly, financial assets2 having an aggregate realizable value that before taxes, but net of any related liabilities3 , exceeds $1,000,000; k) an individual whose net income before taxes exceeded $200,000 in each of the 2 most recent calendar years or whose net income before taxes combined with that of a spouse exceeded $300,000 in each of the 2 most recent calendar years and who, in either case, reasonably expects to exceed that net income level in the current calendar year; l) an individual who, either alone or with a spouse, has net assets of at least $5,000,000; m) a person, other than an individual or investment fund, that has net assets of at least $5,000,000 as shown on its most recently prepared financial statements; n) an investment fund that distributes or has distributed its securities only to (i) a person that is or was an accredited investor at the time of the distribution, (ii) a person that acquires or acquired securities in the circumstances referred to in sections 2.104 of National Instrument 45-106, and 2.195 of National Instrument 45-106, or (iii) a person described in paragraph (i) or (ii) that acquires or acquired securities under section 2.186 of National Instrument 45-106; o) an investment fund that distributes or has distributed securities under an Offering Memorandum in a jurisdiction of Canada for which the regulator or, in Qubec, the securities regulatory authority, has issued a receipt; p) a trust company or trust corporation registered or authorized to carry on business under the Trust and Loan Companies Act (Canada) or under comparable legislation in a jurisdiction of Canada or a foreign jurisdiction, acting on behalf of a fully managed account7 managed by the trust company or trust corporation, as the case may be; q) a person acting on behalf of a fully managed account managed by that person, if that person (i) is registered or authorized to carry on business as an advisor or the equivalent under the securities legislation of a jurisdiction of Canada or a foreign jurisdiction, and (ii) in Ontario, is purchasing a security that is not a security of an investment fund; r) a registered charity under the Income Tax Act (Canada) that, in regard to the trade, has obtained advice from an eligibility advisor8 or an advisor registered under the securities legislation of the jurisdiction of the registered charity to give advice on the securities being traded; s) an entity organized in a foreign jurisdiction that is analogous to any of the entities referred to in paragraphs (a) to (d) or paragraph (i) in form and function; t) a person in respect of which all of the owners of interests, direct, indirect or beneficial, except the voting securities required by law to be owned by directors, are persons that are accredited investors; u) an investment fund that is advised by a person registered as an advisor or a person that is exempt from registration as an advisor; or v) a person that is recognized or designated by the securities regulatory authority or, except in Ontario and Qubec, the regulator as (i) an accredited investor, or (ii) an exempt purchaser in Alberta or British Columbia.
1 Spouse, in relation to an individual Applicant, means another individual to whom the Applicant is married and is not living separate and apart within the meaning of the Divorce Act (Canada), or is living with another individual in a marriage-like relationship, including with another individual of the same gender, or in Alberta, is an adult inter-dependent partner within the meaning of the Adult Interdependent Relationships Act (Alberta). 2 Financial assets mean cash, securities, any contract of insurance or deposit or evidence thereof. 3 Related liabilities means (a) liabilities incurred or assumed for the purposes of financing the acquisition or ownership of financial assets, and (b) liabilities that are secured by financial assets. 4 Section 2.10 refers to purchasers who purchase, as principal, securities of a single issuer which have an acquisition cost to the purchaser of not less than $150,000 paid in cash at the time of the trade. 5 Section 2.19 refers to securityholder who initially acquires securities of the investment fund as principal for an acquisition cost of not less than $150,000 paid in cash at the time of the trade and subsequently acquires securities in the same series as the initial trade if at the date of the subsequent trade, the securityholder holds securities of the investment fund that have an acquisition cost of not less than $150,000 or a net asset value of not less than $150,000. 6 Section 2.18 refers to securities acquired pursuant to a reinvestment plan available to all securityholders in Canada where there is no sales charge payable on the trade and the most recent Offering Memorandum, if any, of the investment fund provided details of any fee payable at the time of redemption and of any right of the securityholder to elect to receive cash instead of securities. 7 Fully managed account means an account for which a person makes investment decisions if that person has full discretion to trade in securities of the account without requiring the client's express consent to a transaction. 8 Eligibility adviser means (i) a registered investment dealer or equivalent under the securities legislation of the jurisdiction of the client authorized to give advice with respect to the securities being distributed, (ii) in Saskatchewan and Manitoba, a lawyer in good standing with a Canadian law society or a public account in good standing with an institute or association of accountants provided the law or public accountant does not have a professional, business or personal relationship with the issuer or any of its directors, executive officers, founders or control persons, and must not have acted or been retained personally or otherwise as an employee, executive officer, director, associate or partner of a person that has acted or been retained by the issuer or any of its directors, executive officers, founders or control persons within the pervious 12 months.