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Western Asset US$ High Yield Bond Fund
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About the Fund
Investment Aim
To provide a high level of current income by investing primarily in US dollar denominated high yielding debt securities of US issuers.
Performance Benchmark
Barclays Capital US Corporate High Yield
- The Fund invests primarily in high yielding corporate bonds denominated in US dollars.
- Credit quality: The Fund's assets will be invested primarily in securities rated below Investment Grade by a nationally recognised statistical rating organisation (NRSRO).
About the Investment Strategy
- Construct and maintain a diversified portfolio of high-income securities.
- Value is added through issuer/issue selection and sector rotation.
- Portfolio risk is controlled through broad diversification of sectors and issuers.
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 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.