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Legg Mason Brandywine Global Fixed Income Absolute Return Fund
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About the Fund
Investment Aim
The Fund's investment objective is to generate positive returns that are independent of market cycles.
Performance Benchmark
BBA LIBOR USD Overnight Rate
- Aims to generate positive returns that are independent of market cycles
- Long/short approach with the ability to take substantial positions in assets believed to be overvalued and undervalued, depending on market conditions
- Highly experienced investment team
About the Investment Strategy
- The Fund intends to make strategic investments in global fixed income securities and currencies.
- The Fund’s flexible mandate gives managers wide latitude
to change allocations and shift between long and short
exposures in an attempt to take advantage of evolving
opportunities.
- Short exposure will be established primarily through the use of derivatives, including currency forwards, interest rate swaps and futures.
- The Fund’s managers utilize a top-down, macro approach that drives its entire investment process.
About the Investment Team
Brandywine Global Investment Management has been managing fixed income since 1992 and its fixed income team brings together decades of experience in the asset class.
Risk Factors: The value of investments and the income from them can go down as well as up and investors may not get back the amounts originally invested. The value of investments and the income from them can be affected by changes in interest rates, in exchange rates, general market conditions, political, social and economic developments and other variable factors. The Fund may invest in 'non-investment grade' bonds, which carry a higher degree of default risk than 'investment grade' bonds. 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 of risk. The fund may use eligible derivatives to hedge its foreign currency exposure or enhance the fund’s return. These instruments may involve a higher degree of risk. Fluctuations in exchange rates between the currency of the underlying securities and the Fund's base currency may affect the value of an investment and any income derived from it. The Fund may invest in certain types of financial derivative instruments (FDIs) for efficient portfolio management or investment purposes. These instruments may involve a higher degree of risk. Please refer to the Simplified Prospectus and Prospectus documentation, which describe the full objective and risk factors associated with this Fund.
Due to its investment policies, this Fund may have particularly volatile performance.