Form 497 Legg Mason Global Asset
CBAX953889 | 91444‑P1 0722
SUPPLEMENT DATED JULY 1, 2022
TO THE SUMMARY PROSPECTUS AND PROSPECTUS,
EACH DATED JANUARY 28, 2022 , OF
CLEARBRIDGE GLOBAL INFRASTRUCTURE INCOME FUND (THE “FUND”)
Effective July 1, 2022, the manager has agreed to further limit certain of the Fund’s expenses. Therefore, the following replaces the fee table, footnotes and expense example in the section of the Fund’s Summary Prospectus and Prospectus entitled “Fees and expenses of the fund”:
|
||||||||||||||||||||||||||
Class A | Class C | Class R | Class I | Class IS | ||||||||||||||||||||||
Maximum sales charge (load) imposed on purchases (as a % of offering price) |
||||||||||||||||||||||||||
Maximum deferred sales charge (load) (as a % of the lower of net asset value at purchase or redemption)3 |
||||||||||||||||||||||||||
Small account fee5 |
$ |
$ |
||||||||||||||||||||||||
| ||||||||||||||||||||||||||
Class A | Class C | Class R | Class I | Class IS | ||||||||||||||||||||||
Management fees |
||||||||||||||||||||||||||
Distribution and/or service (12b‑1) fees |
||||||||||||||||||||||||||
Other expenses |
||||||||||||||||||||||||||
Total annual fund operating expenses |
||||||||||||||||||||||||||
Fees waived and/or expenses reimbursed9 |
( |
( |
( |
( |
( |
|||||||||||||||||||||
Total annual fund operating expenses after waiving fees and/or reimbursing expenses |
1 | |
2 | |
3 | |
4 | |
5 | |
6 | |
7 | |
8 | |
9 | |
This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes:
• | You invest $10,000 in the fund for the time periods indicated |
• | Your investment has a 5% return each year and the fund’s operating expenses remain the same (except that any applicable fee waiver or expense reimbursement is reflected only through its expiration date) |
• | You reinvest all distributions and dividends without a sales charge |
Although your actual costs may be higher or lower, based on these assumptions your costs would be:
1 year | 3 years | 5 years | 10 years | |||||||||||||||||
Class A (with or without redemption at end of period) |
||||||||||||||||||||
Class C (with redemption at end of period) |
||||||||||||||||||||
Class C (without redemption at end of period) |
||||||||||||||||||||
Class R (with or without redemption at end of period) |
||||||||||||||||||||
Class I (with or without redemption at end of period) |
||||||||||||||||||||
Class IS (with or without redemption at end of period) |
Additionally, effective July 1, 2022, the section of the Fund’s Prospectus entitled “More on fund management – Expense limitation” is deleted in its entirety and replaced with the following:
The manager has agreed to waive fees and/or reimburse operating expenses (other than interest, brokerage commissions, taxes, extraordinary expenses and acquired fund fees and expenses) so that effective July 1, 2022, the ratio of total annual fund operating expenses will not exceed 1.30% for Class A shares, 2.05% for Class C shares, 1.55% for Class R shares, 0.95% for Class I shares and 0.85% for Class IS shares, subject to recapture as described below. In addition, the ratio of total annual fund operating expenses for Class IS shares will not exceed the ratio of total annual fund operating expenses for Class I shares, subject to recapture as described below. These arrangements cannot be terminated prior to December 31, 2023 without the Board of Trustees’ consent. The manager is permitted to recapture amounts waived and/or reimbursed to a class within three years after the fiscal year in which the manager earned the fee or incurred the expense if the class’ total annual fund operating expenses have fallen to a level below the limits described above. In no case will the manager recapture any amount that would result, on any particular business day of the fund, in the class’ total annual fund operating expenses exceeding the applicable limits described above or any other lower limit then in effect.
For the avoidance of doubt, nothing herein shall be construed as superseding the terms of the Supplement dated May 31, 2022, to the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information.
Please retain this supplement for future reference.
2
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- NHOA Group: New Partnership Emil Frey France x Atlante France, About Fifteen Fastcharging Stations for the Autosphere Dealerships
- Notice of the convening of the Ordinary General Meeting of Shareholders of AB Amber Grid
- Announcement of change in the total number of votes in AB SKF
Create E-mail Alert Related Categories
SEC FilingsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!