Liquidation: Legg Mason Global Asset Management Trust

Form Type: 497

Filing Date: 2025-03-31

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525067961

Filing Summary: The fund's Board of Trustees has decided to terminate the BrandywineGLOBAL Alternative Credit Fund, with operations expected to cease around July 2, 2025. Prior to this date, the fund's assets will be liquidated, leading to an increase in cash holdings and deviation from the stated investment strategies. Effective April 28, 2025, the fund will close to new purchases and exchanges, allowing only reinvestment of dividends. Existing shareholders can continue investing for a limited time while they consider alternatives. The fund will completely close to investments by May 27, 2025, with the right to alter this policy at any point. Shareholders redeeming shares before liquidation will do so at net asset value. They can exchange shares without a sales charge within the family of Franklin Templeton funds until operations cease. The liquidation will create taxable events for shareholders, and potential taxable distributions may occur prior to liquidation. All liquidation proceeds will typically be treated as capital gains or losses for tax purposes, and specific recommendations for shareholders holding shares in IRAs are included. Shareholders are urged to consider suitable reinvestment options for liquidation proceeds.

Form Type: 497K

Filing Date: 2025-03-31

Corporate Action: Liquidation

Type: New

Accession Number: 000119312525067969

Filing Summary: Legg Mason Global Asset Management Trust has determined to terminate the BrandywineGLOBAL Alternative Credit Fund. The fund is expected to cease operations around July 2, 2025, with asset liquidation to commence beforehand at the discretion of fund management. Effective April 28, 2025, the fund will stop accepting new purchases except for specific ongoing investments. Existing shareholders can continue to purchase shares for a limited period while transitioning to alternative investments until May 27, 2025. Shareholders who redeem their shares before termination will be processed at the applicable net asset value, while those remaining until termination will receive liquidation distributions based on their net asset value. The liquidation will involve taxable events for shareholders and potential distributions of investment income and capital gains. Shareholders with IRAs will receive additional communication regarding their investments.