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Western Asset US$ TIPS Plus Fund
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About the Fund
Investment Aim
To maximise total return, by investing primarily in U.S. TIPS. In addition to U.S. TIPS, the Fund may also invest in other types of freely transferable debt securities that may not be indexed to inflation. No more than 10 per cent of the Fund's Total Asset Value may be exposed to currencies other than the U.S. dollar.
Performance Benchmark
No benchmark has yet been assigned as this fund is not yet seeded
- Invests primarily in U.S. TIPS
- May also invest in non-US issuers and US issuers not indexed to inflation
- At least 90% of portfolio will be USD hedged
- Average duration 3-20 years
- Credit quality: The Investment Manager will invest at least 70% of the Fund's Total Asset Value in securities rated investment grade by a nationally recognised statistical rating organisation (NRSRO).
About the Investment Strategy
- Construct a well diversified, higher yielding, inflation-protected portfolio with a bias towards Treasury Inflation Protected Securities (TIPS).
- Exposure to the diversifying sectors (which include credit, global inflation-linked securities and mortgage-backed securities) may be derived through derivative and forward transactions.
- Opportunistic investments in high yield, emerging markets, non-dollar securities, commodities and bank loans.
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.