Legg Mason Western Asset US High Yield Fund

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About The Fund

Investment Aim

The Fund seeks to provide a high level of income by investing at least 70% of its Net Asset Value in high-yielding debt securities of U.S. issuers the face value of which are in U.S. dollars. At least 95% of the Fund's Net Asset Value will be in U.S. Dollars assets.

Performance Benchmark

Bloomberg Barclays U.S. Corporate High Yield - 2% Issuer Capped Index.
Month-end NAV:
Class A Acc (USD):USD 172.19
Class A Dis (M)(USD):USD 94.33
Class A Dis (M)(SGD)(Hedged) Plus:SGD 0.821
Fund Size:USD 163 million
Number of Holdings:336
Current Yield^:6.25%
Weighted Average Life5.30 years
Effective Duration3.78 years
^ Current yield (gross of expenses), is not representative for an individual share class as the yield does not deduct the Total Expense Ratio or any applicable taxes and other locally costs
All data are as of 30 April 2019

About the Investment Strategy

  • The Fund is focused on non-investment grade corporate bonds denominated in US dollars.
  • Diversification is achieved by spreading portfolio investments across a wide range of bond issuers across different industry sectors.
  • The investment manager employs bottom-up credit research to issue selection in order to add incremental value.
  • The manager aims to achieve this by exploiting inefficient markets through identification of undervalued securities, out-of-favour securities, distressed situations, other trading inefficiencies (liquidity, technical factors), potential upgrade candidates and takeover targets/arbitrage situations.
  • The Fund aims to maintain an average credit quality of B.
  • 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.


    The Fund may invest in certain types of derivatives for investment and / or efficient portfolio management purposes. Please refer to the prospectus for more information. Distributing Plus share classes may pay dividend out of capital.The payment of dividends out of capital effectively amounts to a return or withdrawal of an investor’s original capital investment or of capital gains attributable to that original investment. Such distribution will result in a corresponding immediate decrease in the Net Asset Value of these share classes.

    This document, provided by Legg Mason Asset Management Singapore Pte. Limited ( “Legg Mason” ) (Registration Number (UEN): 200007942R), is for information only and does not constitute an offer or solicitation to buy or sell any units in any fund.

    The prospectus of the fund is available and may be obtained from Legg Mason or its authorised distributors. Investors should check with Legg Mason or its authorised distributors on whether a particular class of the fund is available for subscription. Investors should read the prospectus prior to any subscription. All applications for units in the fund must be made on the application forms accompanying the prospectus. Past performance is not necessarily indicative of future performance. All investments involve risk, including possible loss of principal.The value of the units in the fund and the income accruing to the units, if any, may fall or rise.

    Distribution of this document may be restricted in certain jurisdictions. Any persons coming into possession of this document should seek advice for details of, and observe, such restrictions (if any).This document does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute such a document or make such an offer or solicitation. This fund is not available to US citizens, residents or greencard holders and may not be available in all jurisdictions.

    Neither Legg Mason nor any officer or employee of Legg Mason accepts any liability whatsoever for any loss arising from any use of this document or its contents. The information in this document is confidential and proprietary and may not be used other than by the intended user.This document may not be reproduced, distributed or published without prior written permission from Legg Mason.

    The mention of any individual securities / funds should neither constitute nor be construed as a recommendation to purchase or sell securities, and the information provided regarding such individual securities / funds is not a sufficient basis upon which to make an investment decision. Portfolio allocations, holdings and characteristics are subject to change at any time. Although information has been obtained from sources that Legg Mason believes to be reliable, no guarantee can be given as to its accuracy and such information may be incomplete or condensed and may be subject to change at any time without notice. Legg Mason, its affiliates, officers or directors, may have an interest in the acquisition or disposal of the securities mentioned herein.

    This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.