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Legg Mason to close three exchange-traded funds

Legg Mason to close three exchange-traded funds

Legg Mason announced Wednesday that it would liquidate and close three small exchange-traded funds.

The closings come after the Baltimore-based investment management firm reported a big loss for its fiscal third quarter and the launch of a cost-cutting plan that would consolidate and automate operational functions among its affiliates.

Legg said it was closing the funds “based on an ongoing review of its product lineup and to ensure it meets the evolving needs of its clients.”

The funds Legg plans to close include its Developed ex-US...

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