Form 497K Legg Mason ETF Investmen
FTXX961909 | VGOF-P84 0622
LEGG MASON ETF INVESTMENT TRUST
SUPPLEMENT DATED JUNE 29, 2022
TO THE SUMMARY PROSPECTUS, PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION (SAI)
OF EACH FUND LISTED IN SCHEDULE A
I. | Effective June 29, 2022, the following changes are made to the Summary Prospectus and Prospectus of Franklin International Low Volatility High Dividend Index ETF: |
a) | All references to Russell Shtern in the section entitled ManagementPortfolio managers in the funds Summary Prospectus and Prospectus are deleted in their entirety and replaced with the following: |
Vaneet Chadha, CFA | Portfolio Manager | June 2022 | ||||||
Christopher W. Floyd, CFA | Portfolio Manager | June 2022 | ||||||
Jose Maldonado, CFA | Portfolio Manager | June 2022 |
b) | All references to Russell Shtern in the section entitled More on fund managementPortfolio managers in the funds Prospectus are deleted in their entirety and replaced with the following: |
Vaneet Chadha, CFA | Vice President, Portfolio Manager and director of Style Premia and Volatility Management for Franklin Templeton Investment Solutions (FTIS). Prior to joining Franklin Templeton in 2012, Mr. Chadha served as a quantitative developer at Citadel LLC. He entered the financial services industry in 2005. He holds a Bachelor of Computer Engineering from University of Delhi and a M.S. in Quantitative and Computational Finance from Georgia Institute of Technology. | June 2022 | ||
Christopher W. Floyd, CFA | Vice President, Portfolio Manager for Franklin Templeton Investment Solutions (FTIS). Mr. Floyd was formerly a member of the Equity Portfolio Manager group at QS Investors, a quantitative multi-asset and equity manager. QS Investors combined with Franklin Templeton Multi-Asset Solutions in October 2020 to create FTIS. Previously, Mr. Floyd served as a developed markets senior portfolio manager at Batterymarch Financial Management, Inc. (Batterymarch), which merged with QS Investors in 2014. Prior to joining Batterymarch, he held positions at Cigna Investment Management, Urban & Associates, Inc. and Bay State Federal Savings Bank. He holds a B.A. in Economics from Dartmouth College and an M.B.A. in Management from Cornell University. | June 2022 | ||
Jose Maldonado, CFA | Vice President, Portfolio Manager for Franklin Templeton Investment Solutions (FTIS). Mr. Maldonado was formerly a member of the Portfolio Management group at QS Investors, a quantitative multi-asset and equity manager. QS Investors combined with Franklin Templeton Multi-Asset Solutions in 2020 to create FTIS. Previously, Mr. Maldonado served as a global equity trader at Arrowstreet Capital and as an investment management consultant at FactSet Research Systems. He entered the financial services industry in 2008. He holds a B.S. in Finance with an Economics minor from Providence College. | June 2022 |
II. | Effective June 29, 2022, the following changes are made to the Franklin International Low Volatility High Dividend Index ETFs SAI: |
a) | All references to Russell Shtern in the section entitled Investment Management and Service Provider InformationPortfolio ManagersOther Accounts Managed by the Portfolio Managers in the funds SAI are deleted in their entirety and replaced with the following: |
Portfolio |
Type of Account |
Number of Accounts Managed |
Total Assets Managed (Billions) ($) |
Number of Accounts Managed for which Advisory Fee is Performance- Based |
Assets Managed for which Advisory Fee is Performance- Based (Billions) ($) |
|||||||||||||
Vaneet Chadha, CFA* | Registered Investment Companies | 3 | 0.85 | None | None | |||||||||||||
Other Pooled Investment Vehicles | 9 | 0.45 | None | None | ||||||||||||||
Other Accounts | 2 | 0.00 | None | None | ||||||||||||||
Christopher W. Floyd, CFA* | Registered Investment Companies | 12 | 1.60 | None | None | |||||||||||||
Other Pooled Investment Vehicles | 10 | 0.64 | None | None | ||||||||||||||
Other Accounts | 8 | 0.11 | None | None | ||||||||||||||
Jose Maldonado, CFA* | Registered Investment Companies | 2 | 0.94 | None | None | |||||||||||||
Other Pooled Investment Vehicles | 1 | 0.01 | None | None | ||||||||||||||
Other Accounts | 2 | 0.00 | None | None |
* | The information is as of May 31, 2022 and does not reflect additional accounts (including the Fund) for which Messrs. Chadha, Floyd and Maldonado will join the portfolio management team on June 29, 2022. |
b) | All references to Russell Shtern in the section entitled Investment Management and Service Provider InformationPortfolio ManagersPortfolio Managers Securities Ownership in the funds SAI are deleted in their entirety and replaced with the following: |
Vaneet Chadha, CFA | None | * | ||
Christopher W. Floyd, CFA | None | * | ||
Jose Maldonado, CFA | None | * |
* | The information is as of May 31, 2022. |
III. | Effective June 29, 2022, Russell Shtern is no longer a portfolio manager for Franklin U.S. Low Volatility High Dividend Index ETF. All references to Mr. Shtern in the Franklin U.S. Low Volatility High Dividend Index ETFs Summary Prospectus, Prospectus and SAI are deleted in their entirety. |
SCHEDULE A
Fund |
Date of | |
LEGG MASON ETF INVESTMENT TRUST |
||
Franklin International Low Volatility High Dividend Index ETF |
March 1, 2022 | |
Franklin U.S. Low Volatility High Dividend Index ETF |
March 1, 2022 |
Please retain this supplement for future reference.
2
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