Legg Mason Western Asset Global High Yield Fund

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About the Fund

Investment Aim

The Fund’s primary aim is to generate total return by investing at least 70% of its Total Asset Value in high-yielding debt securities (higher yields are generally available from securities rated below investment grade). The Fund is a global fund and is not confined to investing in any specific country or region, although it is expected that it will invest in at least 10 different countries and will not be investing more than 45% in high-yielding emerging market countries.

Performance Benchmark

Barclays Capital Global High Yield Index Value, USD Hedged (80% Citigroup High Yield Market Index; 20% JPMorgan Emerging Markets Bond Index Global prior to 01/05/2009).
 
  • Invests principally in high yield debt issued by US and international companies.
  • Managed by one of the world's largest fixed income managers.
 
 
 

About the Investment Strategy

  • The Fund is focused on non-investment grade corporate bonds denominated in US dollars.
  • Diversification is achieved by spreading portfolio investments across a wide range of bond issuers in different industry sectors and countries.
  • The Fund aims to maintain an average credit quality of B+.

About the Investment Team

Founded in 1971, Western Asset has decades of experience in fixed income investing and is now one of the world's largest managers of fixed income investments. Western Asset follows a team-focused approach comprising groups of specialists dedicated to all the major areas of the fixed income market. Western Asset's philosophy is to provide diversified, tightly controlled, value-oriented portfolios through a focus on long-term fundamental value investing and by applying multiple diversified strategies.

General Fund Literature

Fact Sheet
Fact Sheet - Premier Class
Quarterly Commentary
Annual Report
Semi-Annual Report
Full Prospectus
Simplified Prospectus
Prospectus Supplement
Initial Application Form
Subsequent Subscription Form
Redemption Form
 
 
Risk Factors: Fluctuations in exchange rates can affect the value of the Fund and the income from it. The Fund may invest in 'non-investment grade' bonds, which carry a higher degree of default risk than 'investment grade' bonds and may have an increased potential to erode capital. The Fund may invest in emerging markets that may be less liquid and may have less reliable custody arrangements than mature markets and may involve a higher degree or risk. Please refer to the Simplified Prospectus and Prospectus documentation for Legg Mason Global Funds plc, which describe the full risk factors associated with this Fund