We are delighted to announce that we have upgraded our rating of the Legg Mason ClearBridge US Equity Sustainability Leaders fund from Responsible Positive Prospect to Responsible A.

We believe the managers have consistently and successfully applied the investment approach, which has ultimately led to a good level of asset growth and a rewarding performance profile for its investors. In addition, Franklin Templeton has completed its acquisition of Legg Mason, since we initially awarded the Responsible Positive Prospect rating. All of these factors have led to an increase in our overall level of conviction in the strategy.