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Legg Mason's flagship Value Trust fund no longer lagging
Legg Mason's flagship Value Trust fund no longer lagging

The Legg Mason Capital Management Value Trust fund is doing something not seen in years: It's beating the stock market. Under new manager Sam Peters, the fund is up 27.8 percent in the past 12 months, compared with 20.6 percent for the S&P 500 index. Could the fund, which famously outperformed the market 15 years in a row before losing its footing, be turning the corner to a fresh winning streak? "Obviously, you always hope, but it is that old adage — take one day at a time," said Peters, who took over the fund's management a year ago in April. Many investors first learned about Baltimore-based Legg because of Value Trust and its former star stock-picker,...

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