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Home > Financial Services > Mutual Funds > Western Asset
Western Asset
Western Asset is one of the world's premier fixed income managers, with offices in Pasadena, New York, London, Tokyo, etc. Western Asset offers institutional clients a full range of fixed income products. Western Asset Management Company was founded in October 1971 by United California Bank.
Western Asset offers products that encompass the global fixed income investment universe. Product offerings include portfolios that utilize domestic, global, investment sectors and currency markets. Western Asset Core Bond Fund seeks total return consistent with prudent risk and liquidity. The fund primarily invests in U.S. dollar-denominated debt of foreign and domestic issuers. Management attempts to maintain a dollar-weighted average duration within give and take 20 percent of the average duration of the domestic bond market as a whole. It expects to maintain average portfolio duration between four and six years. The fund may invest up to 25 percent of assets in foreign issues. It may also use options on debt for nonhedging purposes.
Western Asset Core Plus Bond Fund seeks total return consistent with prudent risk and liquidity. The fund invests primarily in U.S. dollar- denominated debt of foreign and domestic issuers, including corporate bonds issued or guaranteed by the U.S. government, and mortgage-related securities. Management attempts to maintain a dollar-weighted average duration within give or take 20 percent of the average duration of the domestic bond market as a whole. It expects to maintain average portfolio duration between four and six years. The fund may invest up to 25 percent of assets in foreign issues.
Western Asset High Yield Fund seeks total return consistent with prudent risk. The fund normally invests at least 75 percent of total assets in U.S. dollar-denominated debt or fixed income securities that are rated below investment grade at the time of purchase. In deciding among the securities in which the fund may invest, management takes into account the credit quality, country of issue, interest rate, liquidity, maturity and yield of a security as well as other factors, including the fund's duration and prevailing and anticipated market conditions. The fund may invest up to 25 percent of total assets in foreign currency-denominated foreign securities.
Western Asset's objective is to provide institutional fixed income clients with diversified, value-oriented portfolios that are tightly controlled and managed for the long term. Western Asset believes significant inefficiencies exist in the fixed income markets.
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