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Legg Mason Brandywine Global Opportunistic Fixed Income Fund
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About the Fund
Investment Aim
The Fund’s investment objective is to maximise total return consisting of income and capital appreciation.
Performance Benchmark
Citigroup World Government Bond Index
- A diversified global fixed income fund that invests in sovereign and corporate bonds and mortgage-backed securities, across developed and emerging markets.
- Performance target to outperform an index of developed global bond markets by at least 2% annually over a market cycle (3 - 5 years)
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Highly experienced investment team
About the Investment Strategy
- A diversified global fixed income fund that invests in sovereign and corporate bonds and mortgage-backed securities, across developed and emerging markets.
- Active value style, with strategy of investing in bonds with the highest real yields, rotating among countries and controlling risk by purchasing undervalued securities.
- Active currency management in order to protect principal and enhance returns
- Maximum of 35% in non-investment grade securities
- High conviction strategy with significant investments made in targeted positions. Indexing/’benchmark hugging’ is avoided.
- Performance target to outperform an index of developed global bond markets by at least 2% annually over a market cycle (3 - 5 years). Aims to provide long-term returns in excess of the rate of inflation.
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: 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.
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.
The Fund may invest in certain types of derivatives for investment purposes or efficient portfolio
management, including, but not limited to, options, swaps, futures and options on futures, and forward currency exchange contracts. The Fund may use derivatives to gain or hedge exposure to currencies or interest rates. With regard to currency exposure, the Sub-Investment Manager may not be net short any currency, or long more than 100 per cent of the Net Asset Value of the Fund. The Fund will not directly short securities but instead may hold short positions exclusively through financial derivative instruments. The Fund will not be leveraged, including any synthetic short positions, in excess of 100 per cent of its Net Asset Value.