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Western Asset US$ Core Plus Bond Fund
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About the Fund
Investment Aim
To maximise total return through income and capital appreciation by investing at least 80% of the Fund's Net Asset Value in debt securities denominated in US dollars of US issuers. Up to 20% of the Fund's Net Asset Value may be invested in investments denominated in other currencies.
Performance Benchmark
Barclays Capital U.S. Aggregate Index
- Invests primarily in US dollar denominated securities with opportunistic exposure to high yield, emerging markets and non US dollar securities
- Credit quality: Up to 15% of 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 all major fixed-income sectors with a bias towards non-treasuries.
- Opportunistic investments in high yield, emerging markets and non-dollar securities.
- Value is added through sector rotation, yield curve positioning, issue selection and duration management.
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.
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.
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.