497 1 d497.htm LEGG MASON PARTNERS EQUITY TRUST LEGG MASON PARTNERS EQUITY TRUST

 

LEGG MASON PARTNERS EQUITY TRUST

SUPPLEMENT DATED AUGUST 7, 2009

TO THE STATEMENT OF ADDITIONAL INFORMATION

DATED MARCH 19, 2009,

AS AMENDED JULY 15, 2009 OF

LEGG MASON PARTNERS LARGE CAP GROWTH FUND

The following information replaces the information found in the sections of the Statement of Additional Information titled “Portfolio Managers: Other Accounts Managed by Portfolio Managers” and “Portfolio Managers: Portfolio Managers Securities Ownership”:

The following tables set forth certain additional information with respect to the portfolio managers for the fund. Unless noted otherwise, all information is provided as of November 30, 2008.

Other Accounts Managed by Portfolio Managers

The table below identifies the portfolio managers, the number of accounts (other than the fund) for which each portfolio manager has day-to-day management responsibilities and the total assets in such accounts, within each of the following categories: registered investment companies, other pooled investment vehicles, other accounts and, if applicable, the number of accounts and total assets in the accounts where fees are based on performance.

 

Portfolio Managers

   

Registered
Investment
Companies

   

Other Pooled
Investment
Vehicles

   

Other
Accounts

Alan Blake    1 registered investment company with approximately $0.14 billion in total assets under management    6 other pooled investment vehicles with approximately $0.12 billion in total assets under management   

42,124 other accounts with

approximately $6.15 billion in total assets under management

 

Portfolio Managers

   

Registered
Investment
Companies

   

Other Pooled
Investment
Vehicles

   

Other
Accounts

Peter Bourbeau1    1 registered investment company with approximately $0.08 billion in total assets under management    6 other pooled investment vehicles with approximately $0.15 billion in total assets under management   

33,566 other accounts with

approximately $5.77 billion in total assets under management

Scott Glasser2    4 registered investment companies with approximately $5.25 billion in total assets under management    1 other pooled investment vehicle with approximately $0.05 billion in total assets under management    13,132 other accounts with approximately $2.02 billion in total assets under management

 

1 As of April 30, 2009.
2 As of June 30, 2009.

Portfolio Manager Securities Ownership

The table below identifies ownership of fund securities by the fund’s portfolio managers. These holdings are in addition to the shares held for the portfolio managers’ benefit under the subadviser’s incentive compensation program.

 

Portfolio Managers

    Dollar Range of
Ownership of Securities

Alan Blake

    $500,001-$1,000,000

Peter Bourbeau1

    $100,001-500,000

Scott Glasser2

    None

 

1 Information is as of June 29, 2009.
2 Information is as of June 30, 2009.

 

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LEGG MASON PARTNERS EQUITY TRUST

SUPPLEMENT DATED AUGUST 7, 2009

TO THE STATEMENT OF ADDITIONAL INFORMATION

DATED FEBRUARY 28, 2009 OF

LEGG MASON PARTNERS DIVIDEND STRATEGY FUND

The following information replaces the information found in the sections of the Statement of Additional Information titled “Portfolio Managers: Other Accounts Managed by Portfolio Managers” and “Portfolio Managers: Portfolio Managers Securities Ownership”:

Portfolio Managers

The following tables set forth certain additional information with respect to the portfolio managers for the fund. Unless noted otherwise, all information is provided as of October 31, 2008.

Other Accounts Managed by Portfolio Managers

The table below identifies the portfolio managers, the number of accounts (other than the fund) for which each portfolio manager has day-to-day management responsibilities and the total assets in such accounts, within each of the following categories: registered investment companies, other pooled investment vehicles, other accounts and, if applicable, the number of accounts and total assets in the accounts where fees are based on performance.

 

Portfolio Manager

  

Registered
Investment
Companies

  

Other Pooled
Investment
Vehicles

  

Other
Accounts

  

Accounts
with Fees
based on
Performance

Peter Hable   8 registered investment companies with approximately $3.70 billion in total assets under management   3 other pooled investment vehicles with approximately $0.18 billion in total assets under management  

36,483 other accounts with approximately $6.06

billion in total assets under management

   1 pooled investment vehicle with assets of approximately $0.01 billion has an advisory fee based on performance

 

Portfolio Manager

  

Registered
Investment
Companies

  

Other Pooled
Investment
Vehicles

  

Other Accounts

  

Accounts with
Fees based on
Performance

Peter Vanderlee   2 registered investment companies with approximately $0.04 billion in total assets under management   None  

13,405 other accounts with approximately $2.08

billion in total assets under management

   None
Harry D. Cohen*   3 registered investment companies with approximately $4.37 billion in total assets under management  

1 other pooled investment vehicle with approximately

$0.05 billion in total assets under management

   13,734 other accounts with approximately $2.85 billion in total assets under management   None
Michael Clarfeld*   No other registered investment companies   No other pooled investment vehicles   No other accounts   None

 

* Information as of June 30, 2009.

Portfolio Manager Securities Ownership

The table below identifies ownership of fund securities by the fund’s portfolio managers. These holdings are in addition to the shares held for the portfolio managers’ benefit under the subadviser’s incentive compensation program.

 

Portfolio Manager

    Dollar Range of
Ownership of
Securities

Peter Hable

    $100,001-$500,000

Peter Vanderlee

    $50,001-$100,000

Harry D. Cohen*

    None

Michael Clarfeld*

    None

 

* Information as of June 30, 2009.

 

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LEGG MASON PARTNERS EQUITY TRUST

SUPPLEMENT DATED AUGUST 7, 2009 TO THE STATEMENT OF ADDITIONAL INFORMATION DATED APRIL 30, 2009 OF

LEGG MASON PARTNERS APPRECIATION FUND

The following information replaces the information found in the sections of the Statement of Additional Information titled “Portfolio Managers: Other Accounts Managed by Portfolio Managers” and “Portfolio Managers: Portfolio Managers Securities Ownership”:

The following tables set forth certain additional information with respect to the portfolio managers for the fund. Unless noted otherwise, all information is provided as of December 31, 2008.

Other Accounts Managed by Portfolio Managers

The table below identifies the portfolio managers, the number of accounts (other than the fund) for which each portfolio manager has day-to-day management responsibilities and the total assets in such accounts, within each of the following categories: registered investment companies, other pooled investment vehicles, other accounts and, if applicable, the number of accounts and total assets in the accounts where fees are based on performance.

 

Portfolio Managers

  

Registered
Investment
Companies

   Other Pooled
Investment Vehicles		   Other Accounts
Harry D. Cohen   2 registered investment companies with approximately $0.59 billion in total assets under management   1 other pooled
investment vehicle
with approximately
$0.03 billion in assets
under management		   13,927 other accounts
with approximately
$2.96 billion in total
assets under
management
Scott K. Glasser   2 registered investment companies with approximately $1.53 billion in total assets under management   1 other pooled
investment vehicle
with approximately
$0.03 billion in assets
under management		   13,342 other accounts
with approximately
$2.10 billion in total
assets under
management

 

Portfolio Managers

  

Registered
Investment
Companies

   Other Pooled
Investment Vehicles		   Other Accounts
Michael Kagan*   2 registered investment companies with approximately $0.47 billion in total assets under management; 1 registered investment company with $0.45 billion in total assets under management where fees are based on performance   2 other pooled
investment vehicles
with approximately
$0.02 billion in assets
under management		   17 other accounts
with approximately
$2.91 million in total
assets under
management

 

* Information as of June 30, 2009.

Portfolio Manager Securities Ownership

The table below identifies ownership of fund securities by the fund’s portfolio managers. These holdings are in addition to the shares held for the portfolio managers’ benefit under the subadviser’s incentive compensation program.

 

Portfolio Managers

    Dollar Range of
Ownership of Securities

Harry D. Cohen

    $500,001 - $1,000,000

Scott K. Glasser

    Over $1,000,000

Michael Kagan*

    None

 

* Information as of June 30, 2009.

 

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