0001145549-22-015128.txt : 20220309 0001145549-22-015128.hdr.sgml : 20220309 20220309160602 ACCESSION NUMBER: 0001145549-22-015128 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20211231 FILED AS OF DATE: 20220309 DATE AS OF CHANGE: 20220309 EFFECTIVENESS DATE: 20220309 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Legg Mason ETF Investment Trust CENTRAL INDEX KEY: 0001645194 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-23096 FILM NUMBER: 22725427 BUSINESS ADDRESS: STREET 1: 620 EIGHTH AVE STREET 2: 49TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 BUSINESS PHONE: 877-721-1926 MAIL ADDRESS: STREET 1: 620 EIGHTH AVE STREET 2: 49TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 FORMER COMPANY: FORMER CONFORMED NAME: Legg Mason ETF InvestmentTrust DATE OF NAME CHANGE: 20170221 FORMER COMPANY: FORMER CONFORMED NAME: Legg Mason ETF Equity Trust DATE OF NAME CHANGE: 20150615

0001645194 S000059365 Western Asset Total Return ETF

C000194756 Western Asset Total Return ETF WBND

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ClearBridge RARE Infrastructure (North America) PTY Limited Level 13, 35 Clarence Street Sydney AU NSW 2000 61-2-9397-7300 Records related to its function as sub advisor. Legg Mason ETF Investment Trust 620 Eighth Avenue 47th Floor New York 10018 1-877-721-1926 Records related to its function as registrant. Franklin Distributors, LLC ONE FRANKLIN PARKWAY SAN MATEO 94403 1-800-632-2350 Records related to its function as distributor. Royce Investment Partners 745 Fifth Avenue 24th Floor New York 10151 1-800-221-4268 Records related to its function as sub-advisor. Western Asset Management Company, LLC 385 East Colorado Boulevard Pasadena 91101 1-626-844-9400 Records related to its function as sub-advisor. Western Asset Management Company Ltd 5-1 Marunouchi 1-Chome Chiyoda-Ku Tokyo JP 100-6536 81-03-4520-4300 Records related to its function as sub-advisor. Franklin Advisers, Inc. One Franklin Parkway San Mateo 94403-1906 1-650-312-2000 Records related to its function as sub-advisor. ClearBridge Investments, LLC 620 Eighth Avenue 48th Floor New York 10018 1-800-691-6960 Records related to its function as sub-advisor. N N N-1A 9 Y Rohit Bhagat N/A N Anantha K. Pradeep N/A N Jennifer M. Johnson N/A Y Deborah D. McWhinney N/A N Fred Jensen 003203649 620 Eighth Avenue 47th Floor New York 10018 XXXXXX N N N N N Franklin Distributors, LLC 008-53089 000109064 N/A Y N PricewaterhouseCoopers LLP 238 5493002GVO7EO8RNNS37 N N N N N N N Western Asset Total Return ETF S000059365 549300IW55ZZ0YDJ0R05 N 0 0 0 Exchange-Traded Fund N N N N N/A N/A N/A Rule 22d-1 (17 CFR 270.22d-1) Rule 32a-4 (17 CFR 270.32a-4) Rule 6c-11 (17 CFR 270.6c-11) Y Y N N Legg Mason Partners Fund Advisor, LLC 801-66785 000140432 549300POFVK5JLWUL193 N Western Asset Management Company Limited 801-21068 000110427 549300IVCLHPHPOYT226 Y GB N Western Asset Management Company Pte. Ltd. 801-67298 000142188 549300GGQQAH8OMMCX51 Y SG N Western Asset Management Company, LLC 801-08162 000110441 549300C5A561UXUICN46 Y N Western Asset Management Company Ltd 801-68224 000143388 549300ILBTC2ZDZBT448 Y JP N The Bank of New York Mellon 085-05006 HPFHU0OQ28E4N0NFVK49 N N N ICE Data Pricing & Reference Data, LLC 5493000NQ9LYLDBCTL34 N PricingDirect Inc. 549300WIC0TOJ7N7GD54 N IHS MARKIT GROUP HOLDINGS LIMITED 2138005LTLTVZ4WMEX25 GB N Bloomberg L.P. 549300B56MD0ZC402L06 N Refinitiv Benchmark Services Limited N/A N THE CLEARING HOUSE PAYMENTS COMPANY L.L.C. 549300KIB86ZLHRUV723 N Bank of America Merill Lynch PriceServe N/A N Refinitiv US LLC 213800HQORQAP68CJJ04 N N The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N N Legg Mason Partners Fund Advisor, LLC 549300POFVK5JLWUL193 Y N N Clarion Partners Securities, LLC 008-69204 000166384 N/A 0.000000000000 ROYCE FUND SERVICES, LLC 008-28663 000014470 N/A 0.000000000000 Franklin Templeton Investment Services, Inc. 008-43206 000027884 N/A 0.000000000000 Franklin Distributors, LLC 008-53089 000109064 N/A 0.000000000000 ROSENTHAL COLLINS GROUP, L.L.C. 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Report of Independent Registered Public Accounting Firm


To the Board of Trustees of Legg Mason ETF Investment Trust and Shareholders of Western Asset Total Return ETF


In planning and performing our audit of the financial statements of Western Asset Total Return ETF (one of the funds constituting Legg Mason ETF Investment Trust, referred to hereafter as the "Fund") as of and for the year ended December 31, 2021, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund’s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Fund's internal control over financial reporting.


The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company’s assets that could have a material effect on the financial statements.


Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB.

However, we noted no deficiencies in the Fund’s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of December 31, 2021.

This report is intended solely for the information and use of the Board of Trustees of Legg Mason ETF Investment Trust and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

/s/ PricewaterhouseCoopers LLP

San Francisco, California

February 24, 2022

PricewaterhouseCoopers LLP, 100 East Pratt Street, Suite 2600, Baltimore, MD 21202
T: (410) 783 7600, F: (410) 783 7680, www.pwc.com/us