Legg Mason Global Asset Management Trust

02/02/2026 | Press release | Distributed by Public on 02/02/2026 08:31

Summary Prospectus by Investment Company (Form 497K)

VGOF-P18 02/26

LEGG MASON GLOBAL ASSET MANAGEMENT TRUST
SUPPLEMENT DATED FEBRUARY 2, 2026, TO THE
SUMMARY PROSPECTUS, AS APPLICABLE, PROSPECTUS, AND
STATEMENT OF ADDITIONAL INFORMATION ("SAI")
OF EACH FUND LISTED IN SCHEDULE A

I. Effective May 1, 2026, Paul Sloane will retire and step down as a member of the portfolio management team for each fund listed on Schedule A. All references to Mr. Sloane in each fund's Summary Prospectus, as applicable, Prospectus and SAI are deleted in their entirety.

II. Effective May 1, 2026, the following changes are made to each fund's Summary Prospectus, as applicable, Prospectus and SAI:

a. The following is added to the section titled "Management - Portfolio managers" in each fund's Summary Prospectus, as applicable, and Prospectus:

Portfolio manager

Title

Portfolio manager of the fund

since

Robbie McNab, CFA

Portfolio Manager

May 2026

b. The following is added to the section titled "More on fund management - Portfolio managers" in each fund's Prospectus:

Portfolio manager

Title and recent biography

Portfolio manager of

the fund

since

Robbie McNab, CFA

Mr. McNab is a Portfolio Manager on the Emerging Markets Strategy at CIML, where he is primarily responsible for researching stocks in the industrials and utilities sectors. He has 18 years of investment industry experience. Mr. McNab was formerly a Senior Portfolio Manager and global Investment Analyst at Martin Currie, which became part of CIML in 2025. Since starting his career in 2007 at Martin Currie, he has held positions as a global investment analyst, a specialist on the Global Resources strategy, and a portfolio manager for the North America product before joining the former Martin Currie Long-Term Unconstrained team in 2018.

May 2026

c. The following is added to the section titled "Portfolio Managers - Other Accounts Managed by the Portfolio Managers" in each fund's SAI:

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)

($)

Robbie

McNab*

Registered investment

companies

None

None

None

None

Other pooled investment

vehicles

None

None

None

None

Other accounts

None

None

None

None

* The information is as of December 31, 2025 and does not reflect additional accounts (including the Fund) for which Mr. McNab will join the portfolio management team effective May 1, 2026.

d. The section entitled "Portfolio Managers - Portfolio Managers Securities Ownership" in each fund's SAI is deleted in its entirety and replaced with the following:

As of January 1, 2026, the portfolio managers did not own shares of the Fund. It is not tax efficient for the portfolio managers, as residents of the United Kingdom, to invest in the Fund.

SCHEDULE A

Fund

Date of Summary
Prospectus, as
applicable,
Prospectus
and SAI

LEGG MASON GLOBAL ASSET MANAGEMENT TRUST

ClearBridge Emerging Markets Fund

February 1, 2026

Clearbridge SMASh Series EM Fund

December 1, 2025

Please retain this supplement for future reference.

Legg Mason Global Asset Management Trust published this content on February 02, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on February 02, 2026 at 14:31 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]