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Western Asset Euro Equity Plus Fund
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About the Fund
Investment Aim
To achieve a total return exceeding that of the Dow Jones EURO STOXX 50 Index by investing in a portfolio consisting primarily of EURO STOXX 50 index derivatives combined with debt securities listed or traded on Regulated Markets in the OECD.
Performance Benchmark
No benchmark has yet been assigned as this fund is not yet seeded
- Invests primarily in EURO STOXX 50 index derivatives combined with debt securities listed or traded on Regulated Markets in the OECD
- Average duration of fixed income securities 0-1 year
- Up to 10% of the Fund's Total Asset Value may be invested in securities rated below investment grade by a nationally recognised statistical rating organisation (NRSRO).
About the Investment Strategy
- Construct a short-duration fixed income portfolio using futures, swaps, and/or derivatives to synthetically replicate the Dow Jones Euro Stoxx 50 Index while actively managing the underlying cash.
- Invests in all major fixed-income sectors with a bias towards non-government, especially corporate, mortgage-backed and asset-backed securities.
- Value is added through sector rotation, issue selection and term structure weighting.
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. Index derivatives are permitted for investment purposes as part of the Fund’s investment strategy, using futures, options or forward exchange contracts. 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.
On 1 October, the above sub-fund changed from using the abbreviation 'WA' in the fund name (e.g. 'WA Emerging
Market Debt Fund') to 'Western Asset' (e.g. 'Western Asset Emerging Market Debt Fund').
The current prospectus in effect for France still refers to the old fund name, but will be updated shortly.