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Legg Mason Opportunity Trust


Legg Mason Capital Management, Inc.
Adhering firmly to a value-driven, research-intensive investment process, Legg Mason Capital Management (LMCM) focuses its research on assessing intrinsic business value at each company and strives to buy stocks at significant discounts to what the research indicates the businesses are worth. The firm assesses a company's intrinsic value by employing a multi-factor quantitative valuation methodology combined with rigorous business analysis, concentrating on a company's ability to generate excess cash flow, earn high returns on capital and allocate capital efficiently. Through each stage of the investment process, discipline is employed to help reduce long-term risk in each portfolio. By adhering to a consistent, value-driven process, LMCM strives to outperform its benchmarks over the long term.
FIXED INCOME
> Western Asset Absolute Return Portfolio
> Western Asset Core Bond Portfolio
> Western Asset Core Plus Bond Portfolio
> Western Asset Emerging Markets Debt Portfolio
> Western Asset Global High Yield Portfolio
> Western Asset High Yield Portfolio
> Western Asset Inflation Indexed Plus Bond Portfolio
> Western Asset Intermediate Bond Portfolio
> Western Asset Intermediate Plus Bond Portfolio
> Western Asset Limited Duration Bond Portfolio
> Western Asset Non-U.S. Opportunity Bond Portfolio
EQUITY
> Batterymarch U.S. Small Cap Equity Portfolio
> Legg Mason American Leading Companies Trust
> Legg Mason Emerging Markets Trust
> Legg Mason Growth Trust
> Legg Mason International Equity Trust
> Legg Mason Opportunity Trust
> Legg Mason Special Investment Trust
> Legg Mason Value Trust
> Legg Mason Partners Funds
> The Royce Funds




All investments involve risk, including possible loss of principal.

Legg Mason Investor Services, LLC; Batterymarch Financial Management, Inc.; Brandywine Global Investment Management, LLC; ClearBridge Advisors, LLC; Esemplia Emerging Markets; Global Currents Investment Management, LLC; Legg Mason Capital Management, Inc.; Royce & Associates, LLC and Western Asset Management Co. are subsidiaries of Legg Mason, Inc.

Investors should consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about a fund. To obtain a free prospectus, please view the product specific page and click on the prospectus link. An investor should read the prospectus carefully before investing.

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