497K 1 d515855d497k.htm FRANKLIN INTERNATIONAL LOW VOLATILITY HIGH DIVIDEND INDEX ETF Franklin International Low Volatility High Dividend Index ETF

VGOF-P3 6/23

 

 

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LEGG MASON ETF INVESTMENT TRUST

SUPPLEMENT DATED JUNE 27, 2023

TO THE SUMMARY PROSPECTUS, PROSPECTUS AND

STATEMENT OF ADDITIONAL INFORMATION (“SAI”)

OF EACH FUND LISTED IN SCHEDULE A (the “Funds”)

 

 

 

I.

Effective July 7, 2023, the following changes are made to each Fund’s Summary Prospectus and Prospectus:

 

  a)

All references to Michael LaBella in the section entitled “Management—Portfolio managers” in each Fund’s Summary Prospectus and Prospectus are deleted in their entirety and replaced with the following:

 

Portfolio manager   Title   Portfolio manager
of the fund since
     
Jacqueline Kenney, CFA   Portfolio Manager   July 2023

 

  b)

All references to Michael LaBella in the section entitled “More on fund management—Portfolio managers” in each Fund’s Prospectus are deleted in their entirety- and replaced with the following:

 

Portfolio manager   Title and recent biography  

Portfolio manager

of the fund since

     
Jacqueline Kenney, CFA   Vice President, Portfolio Manager for Franklin Templeton Investment Solutions (“FTIS”). Ms. Kenney was formerly a member of the Portfolio Management group at QS Investors, a quantitative multi-asset and equity manager. QS Investors combined with Franklin Templeton Multi-Asset Solutions in October 2020 to create FTIS. Before joining QS Investors in 2010, Ms. Kenney was employed at Deutsche Asset Management. Previously, she was a consultant at Bearing Point and Accenture. Ms. Kenney received her B.A. from Colgate University and her M.B.A. from the Ross School of Business at the University of Michigan.   July 2023

II.

Effective July 7, 2023, the following changes are made to the Funds’ SAI:

 

  a)

All references to Michael LaBella in the section entitled “Investment Management and Other Service Provider Information—Portfolio Managers—Other Accounts Managed by the Portfolio Managers” in the Funds’ SAI are deleted in their entirety and replaced with the following with respect to each Fund:

 

Portfolio
Managers		   Type of Account   Number of
Accounts
Managed		   Total Assets
Managed
(Billions) ($)		   Number of
Accounts
Managed for
which Advisory
Fee is
Performance-
Based		   Assets
Managed for
which Advisory
Fee is
Performance-
Based
(Billions) ($)
           
Jacqueline Kenney, CFA#   Registered Investment Companies   16   6.27   None   None
           
    Other Pooled Investment Vehicles   10   0.32   None   None
           
    Other Accounts   None   None   None   None

 

  # 

The information is as of April 30, 2023 and does not reflect additional accounts (including the Fund) for which Ms. Kenney will join the portfolio management team on July 7, 2023.

 

  b)

All references to Michael LaBella in the section entitled “Investment Management and Other Service Provider Information—Portfolio Managers—Portfolio Manager Securities Ownership” in the Funds’ SAI are deleted in their entirety and replaced with the following with respect to each Fund:

 

Portfolio Manager   Dollar Range of
Ownership of
Securities ($)
   
Jacqueline Kenney, CFA#   None

 

  # 

The information is as of April 30, 2023.

SCHEDULE A

 

Fund

   

Date of
Summary Prospectus,
Prospectus and SAI

LEGG MASON ETF INVESTMENT TRUST

   

Franklin International Low Volatility High Dividend Index ETF

    July 29, 2022

Franklin U.S. Low Volatility High Dividend Index ETF

    July 29, 2022

Please retain this supplement for future reference.

 

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