Legg Mason Permal Global Absolute Fund

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About The Fund

Investment Aim

The Fund’s investment objective is to generate absolute returns over the medium term through a macro style investment process.

Performance Benchmark

N/A

	Class A Acc (Hedged)	Class A Acc	Class A Dis (A)


NAV:	SGD0.979	USD100.55	USD100.43
High*:	SGD1.014	USD103.45	USD103.34
Low*:	SGD0.979	USD99.77	USD99.77
*Based on since inception month end prices.

Fund Size:	USD 65 Million
Number of Holdings:	22
All data are as of 31 July 2010.

About the Investment Strategy

Quantitative Inputs: proprietary, multiple-factor quantitative analysis of the key systematic risk and return factors focusing on asset classes, regions and strategies to determine the key drivers of beta

Qualitative Views: The Investment Committee meets weekly to discuss the macro environment and uses its experience and perspective on global markets to provide forward-looking, top-down macroeconomic views. The team also draws on the broad perspectives of their worldwide network of hedge fund managers, which adds unique 'on-the-ground' insights into global markets.

Portfolio Management: Permal's portfolio managers use the factor model framework created from the quantitative analysis and combine it with the top-down macro views of the Investment Committee to create an asset allocation blueprint. They then work with Legg Mason Global Asset Allocation (LMGAA) to implement the portfolio using the investment universe available to them. LMGAA also perform compliance and risk management functions.

About the Investment Team

Permal has over 35 years of experience in alternative asset management. The company has a stable and experienced management team, and offers a global presence with offices in New York, London, Singapore, Dubai, Paris, Boston, Hong Kong, Tokyo and Nassau.

General Fund Literature

Fact Sheet

Prospectus

Annual Report

Semi Annual Report

This document, prepared by Legg Mason Asset Management Singapore Pte. Limited ("Legg Mason"), is for information only and does not constitute an offer nor solicitation to buy or sell any units of the Fund. The prospectus of the Fund is available and may be obtained from Legg Mason or its authorised distributors. 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. An investment in the Fund is subject to investment risks, including the possible loss of the principal amount invested. The value of units and the income accruing to the units, if any, may fall or rise and past performance is not necessarily a guide for future performance.

All opinions and estimates in this document constitute Legg Mason's house view as of the date of this document and is subject to change without notice. Legg Mason, its affiliates, officers or directors, may have an interest in the acquisition or disposal of the securities mentioned herein.

Distribution of this document may be restricted in certain jurisdictions; persons into whose possession this publication comes should inform themselves of and observe such restrictions. 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 this document. This Fund is not available to US citizens, residents or greencard holders and may not be available in all jurisdictions.