Legg Mason Brandywine Global Fixed Income Absolute Return Fund

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About The Fund

Investment Aim

The Fund seeks to generate positive returns that are independent of market cycles, through income and capital appreciation, by investing at least 70% of its Net Asset Value in debt securities, convertible securities that can be exchanged into shares, investment funds, and financial contracts, which are listed or traded anywhere in the world. The Fund may take advantage of the entire range of maturities and durations when purchasing debt securities, and may adjust the average duration of the Fund's investments from time to time.

Performance Benchmark

3 Month USD Libor
Month-end NAV:
Class A Acc (USD):USD 113.60
Fund Size:USD 1,040 million
Number of holdings:46
Current Yield^:4.65%
Weighted Average Life:4.52 years
Effective Duration:277 days
^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’s investment objective is to generate positive total returns that are independent of market cycles.
  • The Fund typically invests both in developed and emerging markets debt, and has the flexibility to invest across all maturities, to take long and short positions in countries and currencies, and to go negative duration.
  • The portfolio’s long country positions are typically concentrated in the 6-12 countries that the manager believes offer the greatest value and highest return potential.
  • The composition of the Fund reflects the key convictions of the manager, with individual position sizes based on the degree of conviction in each investment, the size of the bond or currency market, and prevailing liquidity conditions.

About the Investment Team

Brandywine Global Investment Management has been managing fixed income since 1992 and its fixed income team brings together decades of experience in the asset class.


The Fund may invest in certain types of derivatives instruments for efficient portfolio management purposes and/or investment purposes. Due to the investment policies of the Fund, The Fund may have particularly volatile performance. Please refer to the prospectus for more information.

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.