NEW YORK--(BUSINESS WIRE)--ClearBridge Real Estate Opportunities Fund (NASDAQ:CREOX), a series of Legg Mason Funds Trust, announced today the completion of its merger with LMP Real Estate Income Fund Inc. (previously NYSE:RIT). Effective immediately, RIT shareholders have become holders of Class O shares of the Fund.
Each share of common stock of RIT converted into one Class O share of the Fund, each having an equivalent dollar amount (to the nearest $0.01). The price was based on RIT’s net asset value (NAV) per share calculated at the close of business on June 10, 2016.
NAV, as of 6/10/16 close of business
| RIT | $14.32 |
The Fund’s post-merger net assets total $163,814,066 and its NAV per Class O share is $14.32 based on approximately 11,441,047 shares outstanding, as of the close of business on June 10, 2016.
Legg Mason Funds Trust is a newly organized, open-end management investment company and currently has only one series, the Fund, which is non-diversified. Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc., serves as the Fund’s investment manager, and ClearBridge Investments, LLC, an affiliate of the investment manager, serves as the Fund’s sub-adviser.
