Macro Opportunities

Investment Objective

Maximize total return.

Investment Style

Macro Opportunities uses a long-term assessment of value complemented by short-term liquid strategies driven by market dislocations. The focus is on global valuations in credit, changes in interest rates and volatility conditions. The strategy offers active management and flexible guidelines that enable the manager to direct exposures opportunistically toward segments of the market that represent strong value opportunities.

Investment Vehicles

Separate Account: Contact your CSE or call 1-626-844-9400
Commingled Vehicle Available

Performance as of March 31, 2017

The Macro Opportunities Composite is not measured against a benchmark. There is no benchmark available which appropriately reflects the strategy of this Composite.

Returns for periods greater than one year are annualized. Please see the Performance Disclosure for more information.

Historical Performance: By Calendar Year

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Strategy AUM: Total Macro Opportunities Assets:
US$8.2 billion (as of December 31, 2016)
Benchmark: No Benchmark*
Inception Date: 01 Apr 12
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Sector Allocation

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Portfolio Characteristics

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Past performance is not indicative of future investment results, the value of any investment can fall as well as rise.
1 The information provided is supplemental to the Macro Opportunities Composite. Please see performance disclosure.
2 Western Asset believes that attribution is not a hard science, but rather a means of evaluating strategies to determine their relative impact on overall portfolio performance. The intent of the manager, therefore, is critical in the evaluation of different strategies, and the return attribution for any sector or strategy could be over or understated due to its inclusion in another component. Data will not sum to 100% due to the exclusion of government-related cash bonds/derivatives and cash/cash equivalents.
3 Emerging Markets exposure is denominated in both USD and local currency. Local currency exposure is reflected in both the Emerging Markets and Foreign Exchange sectors.
4Represents gross currency exposure.
* The Macro Opportunities Strategy is not measured against a benchmark. There is no benchmark available which appropriately reflects the strategy. Net of fee results are calculated using a model approach whereby the current highest tier of the appropriate strategy's fee schedule is used.