Western Asset Global Core Plus Bond Fund
About the Fund
Investment Aim
To maximise total return through income and capital appreciation by investing primarily in the global fixed income markets. The Fund will invest primarily in debt securities denominated in various currencies, with a bias toward non-sovereign debt securities, including corporate debt securities and mortgage-backed securities.
Performance Benchmark
Barclays Capital Global Aggregate (CH) (USD)
- Invests in global fixed income markets with active hedging of currency exposure
- Bias towards corporate and mortgage backed securities
- Credit quality: Up to 15% of the Fund's Net Asset Value may be invested in debt securities rated below 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 and sectors, duration control and active hedging of currency exposure.
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.
Risk Factors: Fluctuations in exchange rates can affect the value of the Fund and the income from it. The Fund may, to a limited extent, 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. 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.