Western Asset Global Multi Sector Fund

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About the Fund

Investment Aim

To maximise total return (including income and capital appreciation), strategically, by investing primarily across all sectors of the global fixed income markets by constructing a portfolio of higher yielding debt securities denominated in US dollars, Japanese yen, sterling, euro and a variety of other currencies of developed and emerging markets countries.

Performance Benchmark

50% Barclays Capital Global Aggregate, 25% Barclays Capital U.S. Corporate High Yield - 2% Issuer Cap (USD), and 25% JP Morgan EMBI+ Index.
 
  • Invests across global fixed income markets, sectors and currencies in both developed and emerging market countries.
  • Credit quality: Investments in debt securities rated below investment grade by a nationally recognised statistical rating organisation (NRSRO) are expected under normal market conditions to range between 20% to 70% of the Fund's Net Asset Value.
 
 
 

About the Investment Strategy

  • Construct a strategic, multi-sector, high yield portfolio by investing in global fixed-income markets and currencies.
  • Primarily, these are mortgage- and asset-backed securities, high-yield corporate securities, investment-grade corporate and government securities and emerging market government securities.
  • Value is added by active sector selection and by security selection. Portfolio risk is controlled through broad diversification across markets and sector.

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

 
 
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 Institutional Funds plc, which describe the full risk factors associated with this Fund.