Costs, time periods, and taxes.
The stockpicker reached a deal to buy out Legg Mason's stake in the entity housing his funds, which he'll continue to run.
Legg Mason fund was among the worst performers in past year
Bill Miller , the Legg Mason fund manager who beat the S&P 500 for 15 years straight before seeing his fund massacred by the financial crisis, is proving you can't keep a good manager down, says Wall Street Journal.
As the Legg Mason stock picker builds on a three-year rebound following his disastrous recession-era record, the pain of that historic crash can still be heard in his voice and the questions from his biggest critics remain.
After a big bounce in 2009, Bill Miller's Capital Management Value Trust is behind again.
The likes of famous mutual fund managers like Peter Lynch and Bill Miller may not be seen again as active management loses luster for investors. But Jeffrey Gundlach and Bill Gross can still grab headlines.
Those stock funds that moved less, profited more.
Longtime manager will remain as Legg Mason Capital Management's chairman.