Getting a Legg up
TFI BH's name change to Legg Mason TFI is a follow up to the transaction finalized at the beginning of February when Legg Mason, the world's fifth-biggest asset-management company, bought investment-fund manager TFI Banku Handlowego and Handlowy Asset Management (HanZA).
However, for the time being, it seems customers will only have to deal with cosmetic changes. The majority of investment funds offered previously by TFI BH will simply change their names from those used by Citigroup to Legg Mason's. Not many other modifications are planned - the team remains the same and the company doesn't yet offer any new investment funds.
"We concentrate on the quality, not the quantity of funds we're managing. We'll only introduce a new investment fund when we know for sure that it will be a leader in its category. We will choose those new funds in which our clients are interested," said Tomasz Jędrzejczyk, CEO of Legg Mason TFI.
"Moreover, we don't set ourselves market-share targets. We estimate that our assets should grow at a rate of 20 percent annually," he added.
Over the last nine months Legg Mason TFI's assets grew by zł.630 million to zł.2.74 billion. Worldwide, Legg Mason manages assets worth $855 (zł.2,654) billion.
