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Legg Mason Global Multi Strategy Bond Fund The Fund seeks to achieve its objective by investing globally, principally in debt and fixed income securities denominated in currencies of a variety of developed and emerging market countries. A minimum of 80% of the Fund's net asset value will be invested in debt and fixed income securities that are either denominated in pounds sterling or, if denominated in other currencies, hedged to pounds sterling. |
Taxable > Traditional Fixed Income |
50% Barclays Capital Global Aggregate, 25% Barclays Capital U.S. Corporate High Yield - 2% Issuer Cap (USD), and 25% JP Morgan EMBI+ Index. (Fully Hedged) |
Global |
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Legg Mason Western Asset US Core Plus Bond Fund The Fund seeks to provide maximum total return, consisting of capital appreciation and income, by investing at least 70% of its Total Asset Value in investment grade debt securities that are listed or traded on regulated markets in the US. |
Taxable > Traditional Fixed Income |
Barclays Capital US Aggregate Index (Lehman Brothers Long Government/Credit Index prior to 01/05/2008) |
North America |
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Legg Mason Western Asset Global Multi Strategy Fund The Fund seeks to maximise total return through income and capital appreciation by investing primarily in debt securities across the major fixed-income sectors that are listed or traded in developed and emerging market countries and denominated in US dollars, Japanese yen, pound sterling, euro and a variety of other currencies. The Fund will have a substantial portion invested in debt securities rated at least BBB by S&P, or equivalent quality, but may also invest in high yielding debt securities which are of a lesser quality. |
Taxable > Traditional Fixed Income |
50% Barclays Capital Global Aggregate, 25% Barclays Capital US Corporate High Yield - 2% Issuer Cap (USD), and 25% JP Morgan EMBI+ Index |
Global |
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Legg Mason Western Asset Euro Core Plus Bond Fund The Fund seeks to maximise total return through income and capital appreciation by investing at all times at least 70% of its Total Asset Value in euro denominated debt securities across the major fixed-income sectors that are listed or traded in developed and emerging market countries. |
Taxable > Traditional Fixed Income |
Citigroup Euro Broad Investment Grade Index |
Europe |
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Legg Mason Western Asset Diversified Strategic Income Bond Fund The Fund seeks to provide a high level of current income by investing at least two-thirds of its Total Asset Value in debt securities across the major fixed-income sectors that are denominated in US dollars, and currencies of a variety of other developed countries. The Fund may invest up to 35% of its Total Asset Value in high yielding debt securities which shall include securities rated BB or lower by S&P, or an equivalent quality. |
Taxable > Traditional Fixed Income |
Citigroup 1 Month US Treasury Bill Index |
Global |
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Legg Mason Western Asset Euro High Yield Fund The Fund's investment objective is to provide a high level of current income. |
Taxable > Traditional Fixed Income |
BofA Merrill Lynch European Currency High Yield (ex. Financials), 2% Constrained Index |
Europe |
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Legg Mason Western Asset Global Blue Chip Bond Fund The Fund seeks to achieve total return through income and capital appreciation by investing in debt securities that are rated A- or higher by S&P or other agencies, or equivalent quality, including corporations and supernational organisations whose long-term debt is rated A- or higher by S&P or other agencies, or equivalent quality. The Fund may invest in securities issued or guaranteed by national governments, their agencies, instrumentalities and political sub-divisions but the Fund will only invest in corporate debt securities that are senior securities, meaning they have priority over other securities in a claim against or the bankruptcy of the issuer. |
Taxable > Traditional Fixed Income |
Merrill Lynch 1-10 Year US Treasury TR Index |
Global |
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Legg Mason Euroland Cash Fund The Fund seeks to provide returns in line with the euro cash market mainly through investments in euro denominated bonds, although up to 25% can be invested in non-euro denominated bonds (hedged back to the euro). The Fund invests in fixed or floating rate securities, so that the average weighted maturity of the Fund's portfolio does not exceed 12 months. |
Liquidity > Money Market |
Citigroup 3 Month Eurodeposit Index |
Europe |
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Legg Mason Western Asset Global High Yield Fund The Fund's primary aim is to generate total return by investing at least 70% of its Total Asset Value in high-yielding debt securities (higher yields are generally available from securities rated below investment grade). The Fund is a global fund and is not confined to investing in any specific country or region, although it is expected that it will invest in at least 10 different countries and will not be investing more than 45% in high-yielding emerging market countries. |
Taxable > Traditional Fixed Income |
Barclays Capital Global High Yield Index Value, USD Hedged (80% Citigroup High Yield Market Index; 20% JPMorgan Emerging Markets Bond Index Global prior to 01/05/2009). |
Global |
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Legg Mason Western Asset Global Credit Absolute Return Fund The Fund seeks to maximise absolute return, through income and capital appreciation, by investing at least 70% of its Net Asset Value (NAV) in a combination of investment grade and high yield (no more than 50% non-investment grade) bonds, listed or traded anywhere in the world. The Fund may use derivatives to gain short exposure to debt securities and to gain exposure to interest rates or currencies. The Fund is permitted to have a negative average duration1, with an anticipated range of between -10 and +10 years, depending on the managers' forecast for interest rates and yields. The market risk of the Fund will be measured using the value-at-risk ("VaR") methodology, which will not exceed 20% of the Fund's Net Asset Value. |
Taxable > Traditional Fixed Income |
BBA LIBOR USD Overnight Rate |
Global |
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Legg Mason Western Asset Global Core Plus Bond Fund To maximise total return through income and capital appreciation by investing primarily in the global fixed income markets. The Fund will invest primarily in debt securities that are issued in OECD member countries and rated investment grade, with a bias toward non-sovereign debt securities, including corporate debt securities and mortgage-backed securities. |
Taxable > Traditional Fixed Income |
Barclays Capital Global Aggregate Index USD Hedged |
Global |
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Legg Mason Western Asset Global Credit Fund The Fund's investment objective is to maximise total return through income and capital appreciation. |
Taxable > Traditional Fixed Income |
Barclays Capital Global Aggregate - Credit Index (USD Hedged) |
Global |
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Legg Mason Western Asset Asian Opportunities Fund The Fund seeks to maximise total return through income and capital appreciation by investing at least 70% of its Total Asset Value in debt securities issued by Asian issuers and in derivatives on Asian interest rates and currencies. The Fund seeks to achieve its investment objective by investing primarily in debt securities of issuers located in a number of different Asian and emerging Asia/Pacific countries. The types of derivatives that the Fund may use include options, futures, swaps and forward currency exchange contracts. |
Taxable > Traditional Fixed Income |
HSBC Asian Local Bond Overall Index |
Asia Pacific |
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Legg Mason Western Asset UK£ Core Plus Bond Fund The Fund's investment objective is to maximise total return through income and capital appreciation. |
Taxable > Traditional Fixed Income |
Bank of America Merrill Lynch Sterling Broad Market Index |
Europe |
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Legg Mason Western Asset UK£ Long Duration Fund The Fund's investment objective is to maximise total return through income and capital appreciation. |
Taxable > Traditional Fixed Income |
50% FTSE-A Gilts Over 15 Years Index & 50% Merrill Lynch Sterling Non-Gilts |
North America |
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Legg Mason Western Asset Brazil Equity Fund The Fund's investment objective is to achieve long-term capital appreciation. |
Equity |
MSCI Brazil Total Return Net Dividend Index |
South America |
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Legg Mason Global Multi Sector Bond Trust To earn a gross return of 2% p.a. in excess of the Benchmark over rolling three-year periods. |
Taxable > Traditional Fixed Income |
50% the Barclays Capital Global Aggregate Index, 25% the J.P. Morgan Emerging Markets Bond Index Plus and 25% the Barclays Capital US Corporate High Yield 2% Issuer Constrained (all hedged into Australian dollars) |
Global |
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Legg Mason Western Asset UK£ Inflation-Linked Plus Fund The Fund's investment objective is to maximise total return through income and capital appreciation. |
Taxable > Traditional Fixed Income |
FTSE-A Index-Linked Gilts Over 5 Years Index |
Europe |
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Legg Mason Western Asset Global Inflation-Linked Fund The Fund's investment objective is to maximise total return through income and capital appreciation. |
Taxable > Traditional Fixed Income |
Barclays World Government Inflation-Linked All Maturities Index |
Global |
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Legg Mason Global Blue Chip Bond Fund To achieve a high income and to mitigate capital erosion. |
Taxable > Traditional Fixed Income |
None Stated |
Europe |
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Legg Mason Western Asset US Adjustable Rate Fund The Fund seeks to provider high current income and to limit the degree of fluctuation of its Total Asset Value resulting from movements in interest rates. The Fund seeks to achieve this by investing at least 80% of its Total Asset Value in various types of adjustable rate debt securities issued by US issuers, including variable rate securities, floating rate securities and adjustable rate mortgage-backed and asset-backed securities that are structured as debt securities. |
Taxable > Traditional Fixed Income |
Citigroup 6 Month US Treasury Bill Index |
North America |
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Legg Mason Western Asset US Short-Term Government Fund The Fund seeks to generate current income, while preserving the value of its shareholders' investment, by investing at least 70% of its Total Asset Value in debt securities issued or guaranteed by the US government, its agencies, instrumentalities or political sub-divisions. The Fund is designed with a view to providing a higher level of current income than is generally available from money market funds. |
Taxable > Traditional Fixed Income |
Barclays Capital Government 1-3 Year |
North America |
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Legg Mason Western Asset Cash Trust To earn a gross rate of return equivalent to at least the UBS Australian Bank Bill Index over rolling 1-year periods. |
Taxable > Traditional Fixed Income |
UBS Australian Bank Bill Index |
Australia |
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Western Asset Core Plus Bond Portfolio To maximize total return, consistent with prudent investment management and liquidity needs, by investing to obtain an average duration of generally 2.5 to 7 years. |
Taxable > Traditional Fixed Income |
Barclays Capital U.S. Aggregate Index |
North America |
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Western Asset Intermediate Bond Portfolio To maximize total return, consistent with prudent investment management and liquidity needs, by investing to obtain an average duration of 2 to 4 years. |
Taxable > Traditional Fixed Income |
Barclays Capital Intermediate Government/Credit Index |
North America |
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Western Asset Core Bond Portfolio To maximize total return, consistent with prudent investment management and liquidity needs, by investing to obtain an average duration of generally 3 to 7 years. |
Taxable > Traditional Fixed Income |
Barclays Capital U.S. Aggregate Index |
North America |
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Legg Mason Western Asset Cash Plus Trust To earn a gross rate of return of 0.60% p.a. in excess of the UBS Australian Bank Bill Index over rolling 1-year periods. |
Taxable > Traditional Fixed Income |
UBS Australian Bank Bill Index |
Australia |
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Legg Mason Western Asset Australian Bond Trust To earn a gross rate of return of 0.75% p.a. in excess of the UBS Australian Composite Bond Index over rolling 3-year periods without incurring significantly higher volatility. |
Taxable > Traditional Fixed Income |
UBS Australian Composite Bond Index |
Australia |
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Legg Mason Western Asset Core Plus Global Bond Trust To earn a gross rate of return of 1.25% p.a. in excess of the Barclays Capital Global Aggregate Index (hedged into Australian dollars). |
Taxable > Traditional Fixed Income |
Barclays Capital Global Aggregate Index (hedged into Australian dollars). |
Global |
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Legg Mason Western Asset Strategic Income Fund Generate high current income. |
Taxable > Traditional Fixed Income |
None Stated |
Global |
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Legg Mason Western Asset Core Bond Fund Maximize total return. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
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Legg Mason Western Asset Short Duration Municipal Income Fund Generate high current income exempt from regular federal income tax and preserve capital. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Legg Mason Western Asset Pennsylvania Municipals Fund Provide a high level of current income exempt from federal income taxes and Pennsylvania personal income taxes . |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Legg Mason Western Asset Oregon Municipals Fund Provide Oregon investors with a high level of current income exempt from regular federal income taxes and Oregon personal income taxes, and preservation of capital. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Legg Mason Western Asset New York Municipals Fund Provide New York investors with a high level of current income exempt from regular federal income taxes and New York State and City personal income taxes; and preservation of capital. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Western Asset New York Municipal Money Market Fund The Fund seeks to provide income exempt from both regular federal income tax and New York State and New York City personal income tax from a portfolio of high quality short-term municipal obligations selected for liquidity and stability of principal. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Legg Mason Western Asset New Jersey Municpals Fund Provide New Jersey investors with a high a level of current income exempt from regular federal income taxes and New Jersey personal income taxes; as well as preservation of capital. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Western Asset Municipal Money market Fund The Fund seeks to provide income exempt from regular federal income tax from a portfolio of high quality short-term municipal obligations selected for liquidity and stability of principal. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Legg Mason Western Asset Municipal High Income Fund Maximize current income exempt from regular federal income tax. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Legg Mason Western Asset Massachusetts Municipals Fund Provide Massachusetts investors with a high level of current income exempt from regular federal income taxes and Massachusetts personal income taxes; and preservation of capital. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Legg Mason Western Asset Managed Municpals Fund Maximize current income exempt from regular federal income tax and preserve capital. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Legg Mason Western Asset Intermediate-Term Municipals Fund Maximize current income exempt from regular federal income tax. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Legg Mason Western Asset Intermediate Maturity New York Municipals Fund Provide New York investors with a high level of current income exempt from regular federal income taxes and New York State and City personal income taxes; and preservation of capital. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Legg Mason Western Asset Intermediate Maturity California Municipals Fund Provide California investors with a high level of current income exempt from regular federal income taxes and California state personal income taxes; and preservation of capital. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Legg Mason Western Asset California Municipals Funds Provide California investors with a high level of current income exempt from regular federal income taxes and California state personal income taxes; and preservation of capital. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Western Asset Institutional AMT Free Municipal Money Market Fund The Fund seeks current income that is exempt from federal income tax to the extent consistent with preservation of capital and the maintenance of liquidity. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Western Asset California Municipal Money Market Fund The Fund seeks to provide income exempt from both regular federal income tax and California personal income tax from a portfolio of high quality short-term municipal obligations selected for liquidity and stability of principal. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Western Asset Government Money Market Fund The Fund seeks to provide shareholders with maximum current income and preservation of capital. |
Liquidity > Money Market |
None Stated |
North America |
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Western Asset Money Market Fund The Fund seeks to provide shareholders with maximum current income and preservation of capital. |
Liquidity > Money Market |
None Stated |
North America |
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Legg Mason Western Asset Corporate Bond Fund Generate a high level of current income. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
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Western Asset Institutional Governement Reserves The Fund seeks maximum current income to the extent consistent with preservation of capital and the maintenance of liquidity. |
Liquidity > Money Market |
None Stated |
North America |
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Legg Mason Western Asset Global Inflation Management Fund Maximize total return; providing current income is a secondary investment objective. |
Taxable > Traditional Fixed Income |
None Stated |
Global |
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Legg Mason Western Asset High Income Fund Generate high current income. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
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Legg Mason Western Asset Mortgage Backed Securities Fund Generate high current income. |
Taxable > Traditional Fixed Income |
None Stated |
Global |
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Legg Mason Western Asset Core Plus Bond Fund Maximize total return, consisting of capital appreciation and income. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
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Legg Mason Western Asset Short-Term Bond Fund Provide current income, preserve capital and maintain liquidity. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
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Western Asset Emerging Markets Debt Portfolio Maximize total return. |
Taxable > Traditional Fixed Income |
None Stated |
Global |
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Legg Mason Western Asset Global High Yield Bond Fund Maximize total return. |
Taxable > Traditional Fixed Income |
None Stated |
Global |
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Legg Mason Western Asset Inflation Management Fund The Fund's primary aim is to generate total return by investing at least 80% of its Total Asset Value in inflation-protected securities or other securities that the Sub-Investment Manager believes will provide protection against inflation. |
Taxable > Traditional Fixed Income |
Barclays Capital Global Inflation Linked US TIPS |
Global |
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Western Asset Premium U.S. Treasury Reserves The Fund's investment objective is to provide shareholders with liquidity and as high a level of current income from U.S. government obligations as is consistent with preservation of capital. |
Liquidity > Money Market |
None Stated |
North America |
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Western Asset U.S. Treasury Reserves The Fund seeks to provide shareholders with liquidity and as a high level of current income from U.S. government obligations as is consistent with preservation of capital. |
Liquidity > Money Market |
None Stated |
North America |
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Western Asset Institutional U.S. Treasury Reserves Liquidity and as high a level of current income as is consistent with the preservation of capital. There is no assurance that the Fund will achieve its objectives. |
Liquidity > Money Market |
None Stated |
North America |
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Western Asset Premium Liquid Reserves The Fund's investment objective is to provide shareholders with liquidity and as high a level of current income as is consistent with preservation of capital. |
Liquidity > Money Market |
None Stated |
North America |
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Western Asset Liquid Reserves The Fund's investment objective is to provide shareholders with liquidity and as high a level of current income as is consistent with preservation of capital. |
Liquidity > Money Market |
None Stated |
North America |
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Western Asset Institutional Liquid Reserves Liquidity and as high a level of current income as is consistent with the preservation of capital. There is no assurance that the Fund will achieve its objectives. |
Liquidity > Money Market |
The Fund's benchmark is the iMoneyNet 1st Tier Institutional Taxable Money Market Funds Average. Other client benchmarks may include overnight and seven-day deposit rates. |
North America |
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Western Asset Institutional Cash Reserves Liquidity and as high a level of current income as is consistent with the preservation of capital. There is no assurance that the Fund will achieve its objectives. |
Liquidity > Money Market |
The Fund's benchmark is the iMoneyNet AAA-rated 1st Tier Taxable Money Market Funds Average. Other client benchmarks may include overnight and seven-day deposit rates. |
North America |
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Western Asset Premium Tax Free Reserves The Fund's investment objectives are to provide shareholders with high levels of current income exempt from federal income taxes, preservation of capital and liquidity. |
Tax-Advantaged > US Tax-Efficient |
None Stated |
North America |
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Western Asset Tax Free Reserves The Fund's investment objectives are to provide shareholders with high levels of current income exempt from federal income taxes, preservation of capital and liquidity. |
Tax-Advantaged > US Tax-Efficient |
None Stated |
North America |
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Western Asset Institutional Tax Free Reserves High levels of current income exempt from federal income taxes, preservation of capital and liquidity by investing primarily in high quality short-term municipal obligations. There is no assurance that the Fund will achieve its objectives. |
Liquidity > Money Market |
The Fund's benchmark is the iMoneyNet Institutional Tax Free Money Market Funds Average. Other client benchmarks may include overnight and seven-day deposit rates on an after-tax basis. |
North America |
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Western Asset New York Tax Free Money Market Fund The Fund's investment objectives are to provide shareholders with high levels of current income exempt from federal, New York State and New York City personal income taxes, preservation of capital and liquidity. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Western Asset Connecticut Municipal Money Market Fund The Fund's investment objectives are to provide shareholders with high levels of current income exempt from both federal and Connecticut personal income taxes, preservation of capital and liquidity. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Western Asset California Tax Free Money Market Fund The Fund's investment objectives are to provide shareholders with high levels of current income exempt from both federal and California personal income taxes, preservation of capital and liquidity. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Legg Mason Western Asset US Money Market Fund The Fund seeks to provide a reasonable level of current income, consistent with the preservation of capital, by investing at least two-thirds of its Total Asset Value in high-quality, short-term Money Market Instruments denominated in US Dollars and issued by US issuers. The Fund will limit, on average, the dollar-weighted average maturity/life of its investments to 90 days or less. |
Taxable > Traditional Fixed Income |
Citigroup 1 Month US Treasury Bill Index |
North America |
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Legg Mason Western Asset US High Yield Fund The Fund seeks to provide a high level of current income by investing at least 70% of its Total Asset Value in high-yielding debt securities (higher yields are generally available from securities rated below investment grade) of US Issuers that are denominated in US dollars. At least 95% of the Fund's Total Asset Value will be US dollar denominated. |
Taxable > Traditional Fixed Income |
Barclays Capital US Corporate High Yield - 2% Issuer Cap (USD) |
North America |
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Legg Mason Western Asset Emerging Markets Bond Fund The Fund seeks to maximise total return through income and capital appreciation by investing at least 70% of its Total Asset Value in debt securities of issuers located in emerging market countries. The Fund invests in emerging market debt securities across the major fixed-income sectors where the Sub-Investment Manager believes that the yield and potential for capital appreciation are sufficiently attractive in light of the risks of ownership of the obligation. In normal conditions at least 65% will be invested in US dollar denominated securities and at least 60% in government issued, or related securities. |
Taxable > Traditional Fixed Income |
JP Morgan Emerging Markets Bond Index Plus |
Global |
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Western Asset Limited Duration Bond Portfolio To maximize total return, consistent with prudent investment management and liquidity needs, by investing to obtain an average duration of 1 to 3 years. |
Taxable > Traditional Fixed Income |
Merrill Lynch 1-3 Year Treasury Index |
North America |
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Legg Mason Western Asset US Core Bond Fund The Fund seeks to maximise total return through income and capital appreciation by investing at all times at least two-thirds of its Total Asset Value in debt securities across the major fixed-income sectors that are listed or traded in developed and emerging market countries. At least two-thirds of the Fund will be invested in securities of issuers registered in the US or that conduct a significant portion of their business activities in the US and rated at least BBB by S&P, or equivalent quality. At least two-thirds of the Total Asset Value will be denominated in US dollars. |
Taxable > Traditional Fixed Income |
Barclays Capital US Aggregate Index |
North America |
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Western Asset High Yield Portfolio To maximize total return, consistent with prudent investment management. |
Taxable > Traditional Fixed Income |
Barclays Capital U.S. Corporate High Yield Index - 2% Issuer Cap |
North America |
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Western Asset Inflation Indexed Plus Bond Portfolio
To maximize total return, consistent with preservation of capital. |
Taxable > Traditional Fixed Income |
Barclays Capital U.S. TIPS Index |
North America |
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Western Asset Non-U.S. Opportunity Bond Portfolio
To maximize total return, consistent with prudent investment management. |
Taxable > Traditional Fixed Income |
Citigroup World Government ex-U.S. Index (Hedged) |
Europe |
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Western Asset Total Return Unconstrained Portfolio To maximize long-term total return. |
Taxable > Multi-Strategy |
The Portfolio is not measured against a benchmark. |
North America |
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Western Asset - USD Liquidity Fund The investment objective of the Fund is to maintain capital value while seeking to produce a money market return to the investor. The Fund employs specific investment policies and procedures designed to maintain a constant Net Asset Value of USD 1.00 per Class D and Class S Share. However, there can be no assurance that a constant Net Asset Value will be maintained on a continuing basis. |
Liquidity > Money Market |
Overnight USD LIBID |
North America |
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Western Asset - Euro Liquidity Fund The investment objective of the Fund is to maintain capital value while seeking to produce a money market return to the investor. The Fund employs specific investment policies and procedures designed to maintain a constant Net Asset Value of EUR 1.00 per Class D and Class S Share. However, there can be no assurance that a constant Net Asset Value will be maintained on a continuing basis. |
Liquidity > Money Market |
EONIA |
Europe |
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Western Asset - Sterling Liquidity Fund The investment objective of the Fund is to maintain capital value while seeking to produce a money market return to the investor. The Fund employs specific investment policies and procedures designed to maintain a constant Net Asset Value of GBP 1.00 per Class D and Class S Share. However, there can be no assurance that a constant Net Asset Value will be maintained on a continuing basis. |
Liquidity > Money Market |
SONIA |
Europe |
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Western Asset - Euro Government Fund The investment objective of the Fund is to maintain capital value while seeking to produce a high level of liquidity and current income from short term European government obligations, for the investor. The Fund employs specific investment policies and procedures designed to maintain a constant Net Asset Value of EUR 1.00 per Class D. However, there can be no assurance that a constant Net Asset Value will be maintained on a continuing basis. |
Liquidity > Money Market |
Overnight Euro Libid |
Europe |
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Western Asset / Claymore Inflation-Linked Securities & Income Fund (WIA) The Fund's investment objective is to provide current income. Capital appreciation, when consistent with current income, is a secondary investment objective... |
Taxable > Traditional Fixed Income |
None Stated |
North America |
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Western Asset / Claymore Inflation-Linked Opportunities & Income Fund (WIW) The Fund's investment objective is to provide current income. Capital appreciation, when consistent with current income, is a secondary investment objective... |
Taxable > Traditional Fixed Income |
None Stated |
North America |
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Western Asset Premier Bond Fund (WEA) The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
|
Western Asset High Yield Defined Opportunity Fund Inc (HYI) To provide high income. As a secondary investment objective, the Fund will seek capital appreciation. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
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Western Asset Global Corporate Defined Opportunity Fund Inc. (GDO) To provide current income, and then to liquidate and distribute substantially all of the Fund's net assets to stockholders on or about December 2, 2024. As a secondary investment objective, the Fund will seek capital appreciation. There can be no assurance the Fund's investment objectives will be achieved. |
Taxable > Traditional Fixed Income |
None Stated |
Global |
|
Western Asset Municipal Defined Opportunity Trust (MTT) To provide high current income generally exempt from federal income tax and then to liquidate on or about April 30, 2021. As a secondary objective, the Fund will seek total return. |
Tax-Advantaged > Municipal |
None Stated |
North America |
|
Western Asset Mortgage Defined Opportunity Fund Inc. (DMO) To provide current income. As a secondary investment objective, the Fund will seek capital appreciation. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
|
Western Asset Investment Grade Defined Opportunity Trust Inc. (IGI) To provide current income and then to liquidate on or about December 2, 2024. As a secondary investment objective, the Fund will seek capital appreciation. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
|
Western Asset Municipal High Income Fund Inc. (MHF) The Municipal High Income Fund seeks high current income exempt from federal income taxes. |
Tax-Advantaged > Municipal |
None Stated |
North America |
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Western Asset Managed Municipals Fund Inc. (MMU) The Managed Municipals Portfolio seeks as high a level of current income exempt from federal income tax as is consistent with preservation of principal. |
Tax-Advantaged > Municipal |
None Stated |
North America |
|
Western Asset Intermediate Muni Fund Inc. (SBI) The Intermediate Muni Fund seeks a high level of current income exempt from regular federal income taxes consistent with prudent investing. |
Tax-Advantaged > Municipal |
None Stated |
North America |
|
Western Asset Managed High Income Fund Inc. (MHY) The Managed High Income Portfolio's primary investment objective is high current income. Capital appreciation is a secondary objective. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
|
Western Asset Inflation Management Fund Inc. (IMF) The Fund's primary investment objective is total return with a secondary investment objective of current income. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
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Western Asset High Income Fund II Inc. (HIX) The Fund seeks to maximize current income. As a secondary objective, the Fund seeks capital appreciation to the extent consistent with maximization of current income. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
|
Western Asset High Income Fund Inc. (HIF) The Fund seeks to maintain a high level of current income. As a secondary objective, the Fund seeks capital appreciation. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
|
Western Asset Global High Income Fund Inc. (EHI) The Fund's primary investment objective is high current income. The Fund's secondary objective is total return. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
|
Western Asset Worldwide Income Fund Inc. (SBW) The Fund seeks to maintain a high level of current income. As a secondary objective, the Fund seeks capital appreciation. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
|
Western Asset Variable Rate Strategic Fund Inc. (GFY) The Fund's investment objective is to maintain a high level of current income. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
|
Western Asset Emerging Markets Income Fund Inc. (EMD) The Fund seeks high current income. As a secondary objective, the Fund seeks capital appreciation. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
|
Western Asset Emerging Markets Debt Fund Inc. (ESD) The Fund's primary investment objective is total return. The Fund's secondary objective is high current income. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
|
LMP Capital and Income Fund Inc. (SCD) The Fund's Investment objective is total return with an emphasis on income. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
|
Western Asset Municipal Partners Fund Inc. (MNP) The Fund seeks as high a level of current income exempt from regular federal income tax as is consistent with preservation of capital. |
Tax-Advantaged > Municipal |
None Stated |
North America |
|
Western Asset High Income Opportunity Fund Inc. (HIO) The High Income Opportunity Fund seeks a high current income. Capital appreciation is a secondary objective. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
|
Western Asset Global Partners Income Fund Inc. (GDF) The Fund seeks to maintain a high level of current income. As a secondary objective, the Fund seeks capital appreciation. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
|
Western Asset Income Fund (PAI) The Fund's primary investment objective is to provide current income for its shareholders. Capital appreciation, when consistent with current income, is a secondary investment objective. |
Taxable > Traditional Fixed Income |
None Stated |
North America |
|
Investment Grade Credit Plus Seeks to take advantage of the historically wide spreads currently available in the credit sector of the fixed income markets. |
Taxable > Traditional Fixed Income |
Barclays Capital U.S. Credit Bond Index |
North America |
|
Investment Grade Credit Seeks to take advantage of the historically wide spreads currently available in the credit sector of the fixed income markets. |
Taxable > Traditional Fixed Income |
Barclays Capital U.S. Credit Bond Index |
North America |
|
US Bank Loan Exceed the benchmark return by 50 to 75 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
S&P/LSTA Performing Loan Index |
North America |
|
US Municipal Intermediate Exceed the benchmark by 30 basis points annually over the course of a market cycle, while seeking to obtain the optimal after-tax return. |
Tax-Advantaged > Municipal |
Barclays Capital Municipal Bond 1-20 Year Blend (1-22) Index |
North America |
|
US Tax Efficient Short Exceed the benchmark by 30 basis points annually over the course of a market cycle, while seeking to obtain the optimal after-tax return. |
Tax-Advantaged > US Tax-Efficient |
Custom Index |
North America |
|
US Limited Duration Constrained Seeks to achieve returns in excess of the benchmark |
Taxable > Traditional Fixed Income |
Merrill Lynch 1-3 Year US Treasury Index |
North America |
|
UK High Alpha Exceed the benchmark return by 150 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Custom Index |
Europe |
|
Managed CurrencyQ Exceed a cash equivalent benchmark by at least 150 basis points annually over the course of a market cycle. |
Taxable > Traditional Fixed Income |
Managed Currency Q portfolios are not measured against a benchmark. |
Global |
|
Asia Local Currency Exceed the benchmark return by 100 to 150 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
HSBC Asian Local Bond Index |
Asia Pacific |
|
UK Unconstrained Exceed an internal or similar benchmark return by 200 basis points annually over the course of a market cycle. |
Taxable > Traditional Fixed Income |
UK Unconstrained portfolios are not measured against a benchmark. |
Europe |
|
Australia Core Plus Exceed the benchmark return by 100 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
UBS Australian Composite Bond Index |
Australia |
|
US Municipal Money Market Seeks to achieve returns in excess of the benchmark. |
Liquidity > Money Market |
iMoney Net General Institutional Tax Free Money Market Fund Average N |
North America |
|
Australia Cash To achieve a before-fees-and-taxes return in excess of benchmark over rolling one-year periods. |
Liquidity > Cash |
UBS Australian Bank Bill Index |
Australia |
|
Canada Limited Duration Exceed the benchmark return by approximately 30 basis points annually over a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
DEX Universe Short Term Bond Index |
North America |
|
US Enhanced Liquidity Seeks to achieve returns in excess of the 3-month LIBOR annually over time. |
Liquidity > Enhanced Liquidity |
Custom Index |
North America |
|
US Corporate Exceed the benchmark by 75 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Barclays Capital U.S. Credit Bond Index |
North America |
|
Emerging Markets Corporate Credit Exceed the benchmark return by 150 basis points annually over the course of a market cycle while approximating 300 basis points tracking error. |
Taxable > Traditional Fixed Income |
JP Morgan Corporate Emerging Markets Bond Index Broad |
Global |
|
Brazil Equity IBrX Exceed the benchmark return by 250-300 basis points annually over the course of a market cycle while approximating benchmark risk. |
Equity |
Brazil IBrX Index |
South America |
|
Singapore Core Exceed the benchmark return by 50 to 75 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Singapore Government Bond Index All UOB |
Asia Pacific |
|
Brazil Limited Duration (BRL Unhedged) Seeks to maximize returns by investing in the Brazilian fixed-income market. |
Taxable > Traditional Fixed Income |
Brazil Limited Duration portfolios are not measured against a benchmark. |
South America |
|
US Structured Products Maximize total return, consistent with prudent investment management. |
Taxable > Traditional Fixed Income |
US Structured Products portfolios are not measured against a benchmark. |
North America |
|
Canada Core Exceed the benchmark return by apprximately 75 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
DEX Universe Bond Index |
North America |
|
Australia Enhanced Cash Exceed the benchmark by 60 basis points annually over the course of a market cycle while approximating benchmark risk. |
Liquidity > Enhanced Cash |
UBS Australian Bank Bill Index |
Australia |
|
Global SovereignQ (USD Unhedged) Excess return objectives are customizable based on investors risk tolerance. Investors can target excess return ranging from 100 to 400 basis points annually over the course of a market cycle, with corresponding 100 to 400 basis points tracking error targets. |
Taxable > Traditional Fixed Income |
Citigroup World Government Broad Index, USD Unhedged |
Global |
|
Global Sovereign Limited Duration Exceed the benchmark return by 50 bps annually over the course of a market cycle while emphasizing real capital preservation. |
Taxable > Traditional Fixed Income |
Custom Index |
Global |
|
US Managed Cash Seeks to achieve returns in excess of the benchmark annually over time. |
Liquidity > Money Market |
Citigroup 3-Month Treasury Bill Index |
North America |
|
US Enhanced Cash Exceed the benchmark return by 50 basis points annually over the course of a market cycle while emphasizing capital preservation. |
Liquidity > Enhanced Cash |
3-Month LIBOR (USD) |
North America |
|
Global Alpha* Maximize absolute return and significantly outperform 3-month LIBOR (3mL) over the long term, targeting annualized returns of 3mL + 7% with expected annualized returns volatility of 5%-7%, resulting in a target information ratio of 1.0-1.5. The product can be customized to an investor's excess return objectives and risk tolerance by allowing for higher risk leverage. |
Taxable > Multi-Strategy |
3-Month LIBOR (USD) |
Global |
|
Commodity Plus Exceed the benchmark by 50 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Portable Alpha |
Dow Jones UBS Commodity Index |
North America |
|
Emerging Markets Local Currency Exceed the benchmark return by 150 basis points annually over the course of a market cycle while approximating 300 basis points tracking error. |
Taxable > Traditional Fixed Income |
JP Morgan Government Bond Index - Emerging Markets Global Diversified Bond Index |
Global |
|
UK Corporate Exceed the benchmark return by 75 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Custom Index |
Europe |
|
UK Long Duration Exceed the benchmark return by 100 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Custom Index |
Europe |
|
UK Core Exceed the benchmark return by 100 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Custom Index |
Europe |
|
Asia External Debt Exceed the benchmark by 100 to150 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
3-Month LIBOR (USD) |
Asia Pacific |
|
Total Return Unconstrained (TRU) Bond Maximize return consistent with the current market environment and outperform the broad market over the course of a market cycle. |
Taxable > Multi-Strategy |
TRU Bond portfolios are not measured against a benchmark. |
North America |
|
Non-US Core (USD Hedged) Exceed the benchmark return by at least 80 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Citigroup Non-USD World Government Bond Index, USD Hedged |
Europe |
|
US Long Duration Full Discretion Exceed the benchmark return by 115 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Barclays Capital U.S. Long Government Credit Index |
North America |
|
Global Credit Absolute Return Maximize absolute return with a target return of 8%-10% per annum over the course of a market cycle, with an expected volatility of 8%-10% per annum (target information ratio of at least 1). |
Taxable > Traditional Fixed Income |
Global Credit Absolute Return portfolios are not measured against a benchmark. |
Global |
|
US TIPS Full Discretion Exceed the benchmark return by an average of 100 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (series-L) |
North America |
|
Euro Core Full Discretion Exceed the benchmark return by 100 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Citigroup Euro Broad Investment-Grade Bond Index |
Europe |
|
Global Inflation-Linked (USD Unhedged) Maximize real return annually over the course of a market cycle while emphasizing real capital preservation. |
Taxable > Traditional Fixed Income |
Custom Index |
Global |
|
Global Core Full Discretion (USD Hedged) Exceed the benchmark return by 150 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Barclays Capital Global Aggregate USD Hedged |
Global |
|
Global Multi-Sector (USD Unhedged) Exceed the benchmark return by 200 basis points annually over the course of a market cycle. Provide income and capital appreciation. |
Taxable > Traditional Fixed Income |
Custom Index |
Global |
|
Global Sovereign (USD Unhedged) Exceed the benchmark return by 75 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Citigroup World Government Broad Index, USD Unhedged |
Global |
|
Global High Yield Exceed the benchmark return by 150 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Barclays Capital Global High-Yield Bond Index, USD Hedged |
Global |
|
US Intermediate Exceed the benchmark return by 60 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Barclays Capital U.S. Intermediate Government/Credit Bond Index |
North America |
|
US Limited Duration Exceed the benchmark return by 50 basis points annually over the course of a market cycle. |
Taxable > Traditional Fixed Income |
Merrill Lynch 1-3 Year US Treasury Index |
North America |
|
US Index Plus Exceed an equity benchmark return by 50 basis points annually over the course of a market cycle while maintaining volatility consistent with the benchmark. |
Taxable > Portable Alpha |
S&P 500 Index |
North America |
|
US High Yield Exceed the benchmark return by 150 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Barclays Capital U.S. High-Yield 2% Issuer Capped Bond Index |
North America |
|
Emerging Markets Exceed the benchmark return by 150 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
JPMorgan Emerging Markets Bond Index Global Index |
Global |
|
US Core Full Discretion Exceed the benchmark return by 115 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Barclays Capital U.S. Aggregate Bond Index |
North America |
|
US Core Exceed the benchmark return by 75 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Barclays Capital U.S. Aggregate Bond Index |
North America |
|
Japan Core Aggregate Exceed the benchmark return by 50 to 125 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
Nomura Bond Performance Index (BPI) |
Asia Pacific |
|
Australia Core Exceed the benchmark return by 75 basis points annually over the course of a market cycle while approximating benchmark risk. |
Taxable > Traditional Fixed Income |
UBS Australian Composite Bond Index |
Australia |