PRODUCTS
CHANGE FONT SIZE
Liquidity
Liquidity
Taxable 
Tax Advantaged 
Traditional Fixed Income
Western Asset's traditional fixed income mandates are active, team managed strategies that employ long-term, value-oriented approaches utilising diversified strategies and all sectors of the fixed income market in an attempt to add value while minimising risk. The company's investment objective is to exceed the benchmark returns while approximating benchmark risk over a market cycle. Western Asset's approach is to construct portfolios using all major fixed income sectors with a bias towards non-Treasuries.
Western Asset's traditional fixed income mandates are active, team managed strategies that employ long-term, value-oriented approaches utilising diversified strategies and all sectors of the fixed income market in an attempt to add value while minimising risk. The company's investment objective is to exceed the benchmark returns while approximating benchmark risk over a market cycle. Western Asset's approach is to construct portfolios using all major fixed income sectors with a bias towards non-Treasuries.
Absolute Return
Western Asset's Absolute Return mandates are actively managed, diversified fixed income portfolios. The portfolio construction is based on Western Asset's fundamental view of the fixed income markets and is independent of broad market benchmarks. The performance objective is to maximise return consistent with the current market environment and to outperform the broad market over a market cycle.
Western Asset's Absolute Return mandates are actively managed, diversified fixed income portfolios. The portfolio construction is based on Western Asset's fundamental view of the fixed income markets and is independent of broad market benchmarks. The performance objective is to maximise return consistent with the current market environment and to outperform the broad market over a market cycle.
Portable Alpha
Western Asset's Portable Alpha mandates are active, team managed fixed income portfolios that employ a derivatives overlay to replicate the exposure of a client specific benchmark. Typically, the company uses a short duration strategy that employs a long term value-oriented approach and diversified strategies that seek to add value while minimising risk. Western Asset then uses futures and/or a total return swap to receive the performance of the benchmark.
Western Asset's Portable Alpha mandates are active, team managed fixed income portfolios that employ a derivatives overlay to replicate the exposure of a client specific benchmark. Typically, the company uses a short duration strategy that employs a long term value-oriented approach and diversified strategies that seek to add value while minimising risk. Western Asset then uses futures and/or a total return swap to receive the performance of the benchmark.
RECENT COMMENTARY
Some commentators are recommending that investors restrict fixed-income allocations to passive mandates, confining active management to equities or alternatives. In a 2009 white paper, "Active Equity and Passive Bonds?", we pointed out that in order for such an approach to be advisable, information ratios for active equity managers should thoroughly dominate those for active fixed-income. We found that actual results did not support this. If anything, active fixed-income information ratios were superior to active equities.
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