A Go-Anywhere Fund

Legg Mason Partners Capital cuts across company sizes and investment styles.

Brian Posner was a young hotshot portfolio manager at Fidelity Investments in the 1990s. He left to manage money at Credit Suisse Asset Management, then co-founded a hedge fund.

Last year, Posner rejoined the mutual fund world when he became chief executive of what's now called ClearBridge Advisors, a firm with $110 billion in assets that used to run Smith Barney's stock funds. ClearBridge is now part of Legg Mason (which turned over management of Smith Barney's bond funds to its Western Asset Management unit). But Posner was eager to keep an active hand in fund management, so he co-manages Legg Mason Partners Capital (symbol SCCAX for class A shares) with Brian Angerame.

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Contributing Writer, Kiplinger's Personal Finance