Legg Mason rejects US sub-prime fears

Mary Gay, portfolio manager on Legg MasonÆs $20.8 billion monster-sized blue-chip fund, argues that positive economic data outweighs the bad news out of the sub-prime story that has rocked the market in recent weeks.The fund, lead managed by Bill Miller from Legg MasonÆs Baltimore head office, has a 25-year history of investing in US mega- and large-cap equities. Portfolio manager Gay argues that the economic environment should encourage investors to return to the asset class, which h…