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Western Asset Global Bond Fund – Ex US $

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About the Fund

Investment Aim

To maximise total return, through income and capital appreciation, by investing primarily in the non US dollar denominated global fixed income markets. The Fund will invest at least 80 per cent of its Net Asset Value in non-US dollar denominated debt securities, with a bias toward non-sovereign debt securities, including corporate debt securities and mortgage-backed securities.

Performance Benchmark

Citigroup WGBI Ex-US, USD Hedged

Invests primarily in non-US dollar denominated debt securities across global fixed income markets
Focus on investment grade securities
Credit quality: The Investment Manager will only purchase investments that are rated at least investment grade by a nationally recognised statistical rating organisation (NRSRO).

About the Investment Strategy

Construct a portfolio using global fixed-income markets and currencies with a bias towards non-sovereign securities, especially corporate and mortgage-backed securities.
Value is added through block and currency allocation as well as sector concentration and issue selection.
Portfolio risk is controlled through broad diversification across markets/sectors, duration control and active hedging of currency exposure.
The portfolio will not invest in sub-investment grade securities.

About the Investment Team

Founded in 1971, Western Asset has decades of experience 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. Its expertise extends globally across major bond markets.

General Fund Literature

Annual Report

Semi-Annual Report

Full Prospectus

Simplified Prospectus

Prospectus Supplement

Application Form

Risk Factors: Fluctuations in exchange rates can affect the value of the Fund and the income from it. Please refer to the Simplified Prospectus and Prospectus documentation for Legg Mason Institutional Funds plc, which describe the full risk factors associated with this Fund.