Bill Miller 

The stock picker Bill Miller, one of the mutual fund industry’s biggest stars who has fallen on hard times recently, will retire from running his flagship portfolio at Legg Mason Inc. in April and hand full control to his fellow manager.

Sam Peters will become the sole manager of the $2.8 billion Legg Mason Capital Management Value Trust fund and the Value Equity strategy, Legg Mason said in a statement on Thursday. He will also become chief investment officer for Legg Mason Capital Management.

By REUTERS | New York Times – 2 hours 4 minutes ago