Western Asset
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
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
Western Asset Absolute Return Portfolio
To maximize long-term total return.
Taxable > Absolute Return The Portfolio is not measured against a benchmark.
North America
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
Australian 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
Australian Credit Trust
To earn a gross rate of return of 0.90% p.a. in excess of the UBS Australian Composite Bond Index over rolling 3-year periods.
Taxable > Traditional Fixed Income UBS Australian Composite Bond Index
Australia
WA US$ SHORTER DURATION FUND
To maximize current income, consistent with the preservation of capital, by investing primarily in high quality, short-term debt securities of U.S. Issuers.
Liquidity > Enhanced Cash Merrill Lynch 3-Month LIBOR Index
North America
WA EMERGING MARKETS BOND FUND
To maximize total return, through income and capital appreciation, by investing primarily in U.S. Dollar denominated Emerging Markets Debt Securities.
Taxable > Traditional Fixed Income JP Morgan EMBI Plus
North America
WA EURO CORE PLUS BOND FUND
To maximize total return, through income and capital appreciation, by investing at least 80% of the Fund's Net Asset Value in debt securities denominated in Euro. Up to 20% of the Net Asset Value of the Fund may be invested in investments denominated in other currencies.
Taxable > Traditional Fixed Income Citigroup Euro BIG Index
Europe
WA UK£ CORE PLUS BOND FUND
To maximize total return, through income and capital appreciation, by investing at least 80% of the Fund's Net Asset Value in debt securities of U.K. Issuers denominated in Pounds Sterling. Up to 20% of the Fund's Net Asset Value may be invested in debt securities denominated in other currencies provided that no more than 10% of the Fund's Net Asset Value may be unhedged against Sterling.
Taxable > Traditional Fixed Income Merrill Lynch Sterling Broad Market Index
Europe
WA GLOBAL INFLATION LINKED BOND FUND
To maximize total return, consistent with capital preservation, by investing at least 80 per cent of its Net Asset Value in inflation-indexed debt securities issued by national governments that are denominated in U.S. Dollars, Pounds Sterling, Euro and a variety of other currencies.
Taxable > Traditional Fixed Income Barclays World Government Inflation-Linked All Maturities Index
Global
WA GLOBAL BOND FUND - EX US
To maximize total return, through income and capital appreciation, by investing primarily in the non U.S. dollar denominated global fixed income markets. The Fund will invest at least 80 per cent of its Net Asset Value in non-U.S. Dollar denominated debt securities, with a bias toward non-sovereign debt securities, including corporate debt securities and mortgage-backed securities.
Taxable > Traditional Fixed Income Citigroup WGBI Ex-US, USD Hedged
Global
WA GLOBAL INFLATION LINKED BOND FUND - EX UK£
To maximize total return, through income and capital appreciation, by investing at least 80 per cent of its Net Asset Value in non-Sterling denominated inflation indexed debt securities issued by national governments and supra-national organizations that are listed or traded on Regulated Markets. The Fund may also invest in other types of freely transferable debt securities that are not indexed to inflation.
Taxable > Traditional Fixed Income Barclays World Ex-UK Inflation-Linked All Maturities, USD Hedged
Global
WA UK£ LONG DURATION BOND FUND
To maximize total return, through income and capital appreciation, by investing primarily in longer duration debt securities of U.K. Issuers denominated in Sterling.
Taxable > Traditional Fixed Income 50% FTSE-A Gilts Over 15 Years Index & 50% Merrill Lynch Sterling Non-Gilts
Europe
WA UK£ CREDIT BOND FUND
To maximize total return, through income and capital appreciation, by investing primarily in corporate debt securities of U.K. Issuers denominated in Sterling.
Taxable > Traditional Fixed Income iBoxx Sterling Non-Gilts Total Return
Europe
WA US$ LIMITED DURATION BOND FUND
To maximize total return, through income and capital appreciation, by investing primarily in debt securities of U.S. Issuers denominated in U.S. Dollars.
Taxable > Traditional Fixed Income Merrill Lynch US Treasuries, 1-3 Years Index
North America
WA UK£ INFLATION LINKED PLUS BOND FUND
To maximize total return, consistent with capital preservation, by investing primarily in inflation index debt securities issued or guaranteed by national governments, their agencies, instrumentalities and political sub-divisions based or operate predominantly in the U.K. denominated in Pounds Sterling. The Fund may also invest in other types of freely transferable debt securities denominated in Sterling that are not indexed to inflation.
Taxable > Traditional Fixed Income FTSE-A Index-Linked Gilts Over 5 Years Index
Europe
WA UK£ LIMITED DURATION BOND FUND
To maximize total return, through income and capital appreciation, by investing primarily in shorter maturity debt securities of U.K. Issuers denominated in Sterling.
Taxable > Traditional Fixed Income Merrill Lynch Sterling Broad Market 1-3 Year Index
Europe
WA EURO CORE BOND FUND
To maximize total return, through income and capital appreciation, by investing primarily in debt securities denominated in Euro.
Taxable > Traditional Fixed Income Citigroup Euro BIG Index
Europe
WA EURO CREDIT BOND FUND
To maximize total return, through income and capital appreciation, by investing primarily in corporate debt securities denominated in Euro.
Taxable > Traditional Fixed Income None Stated
Europe
WA EURO EQUITY PLUS FUND
To achieve a total return, which exceeds that of the Dow Jones EURO STOXX 50 Index, by investing in a portfolio consisting primarily of EURO STOXX 50 index derivatives combined with debt securities listed or traded on Regulated Markets in the OECD.
Taxable > Traditional Fixed Income None Stated
Europe
WA EURO HIGH YIELD BOND FUND
To provide a high level of current income by investing primarily in high-yielding debt securities that are denominated in Euro.
Taxable > Traditional Fixed Income None Stated
Europe
WA EURO INFLATION LINKED BOND FUND
To maximize total return, consistent with capital preservation, by investing at least 80 per cent of its Net Asset Value in inflation index debt securities issued or guaranteed by national governments, their agencies, instrumentalities and political sub-divisions that are denominated in Euro.
Taxable > Traditional Fixed Income None Stated
Europe
WA EURO INFLATION LINKED PLUS BOND FUND
To maximize total return, consistent with capital preservation, by investing primarily in inflation index debt securities issued or guaranteed by national governments, their agencies, instrumentalities and political sub-divisions that are denominated in Euro. The Fund may also invest in other types of freely transferable debt securities that are not indexed to inflation. No more than 5% of the Fund's Net Asset Value may be unhedged against the Euro.
Taxable > Traditional Fixed Income None Stated
Europe
WA EURO LIMITED DURATION BOND FUND
To maximize total return, through income and capital appreciation, by investing primarily in shorter maturity debt securities denominated in Euro.
Taxable > Traditional Fixed Income None Stated
Europe
WA EURO MONEY MARKET FUND
To provide a reasonable level of current income, consistent with the preservation of capital, by investing primarily in high quality, short-term money market instruments denominated in Euro.
Liquidity > Money Market None Stated
Europe
WA GLOBAL CORE BOND FUND
To maximize total return, through income and capital appreciation, by investing primarily in the global fixed income markets. The Fund will invest primarily in debt securities denominated in various currencies, with a bias toward non-sovereign debt securities, including corporate debt securities and mortgage-backed securities.
Taxable > Traditional Fixed Income None Stated
Global
WA GLOBAL HIGH YIELD BOND FUND
To maximize total return through income and capital appreciation by investing primarily in higher yielding debt securities denominated in U.S. Dollars, Japanese Yen, Pounds Sterling, Euro and a variety of other currencies of developed and Emerging Markets countries.
Taxable > Traditional Fixed Income None Stated
Global
WA GLOBAL INFLATION LINKED PLUS BOND FUND
To maximize total return, consistent with capital preservation, by investing primarily in inflation-indexed debt securities issued by national governments that are denominated in U.S. Dollars, Sterling, Euro and a variety of other currencies. The Fund may also invest in other types of freely transferable debt securities that are not indexed to inflation.
Taxable > Traditional Fixed Income None Stated
Global
WA STERLING MONEY MARKET FUND
To provide a reasonable level of current income, consistent with the preservation of capital, by investing primarily in high quality, short-term money market instruments denominated in Sterling.
Liquidity > Money Market None Stated
Europe
WA UK£ CORE BOND FUND
To maximize total return, through income and capital appreciation, by investing at least 80% of the Fund's Net Asset Value in debt securities of U.K. Issuers denominated in Pounds Sterling. Up to 20% of the Fund's Net Asset Value may be invested in debt securities denominated in other currencies, provided that no more than 10% of the Fund's Net Asset Value may be unhedged against Sterling.
Taxable > Traditional Fixed Income None Stated
Europe
WA UK£ HIGH YIELD BOND FUND
To provide a high level of current income by investing primarily in high-yielding debt securities of U.K. Issuers denominated in Sterling.
Taxable > Traditional Fixed Income None Stated
Europe
WA UK£ INFLATION LINKED BOND FUND
To maximize total return, consistent with capital preservation, by investing at least 80% of the Fund's Net Asset Value in inflation index debt securities issued or guaranteed by national governments, their agencies, instrumentalities or political sub-divisions that are based or operate predominantly in the U.K. denominated in Sterling.
Taxable > Traditional Fixed Income None Stated
Europe
WA US$ CREDIT BOND FUND
To maximize total return, through income and capital appreciation, by investing primarily in U.S. Dollar denominated corporate debt securities of U.S. Issuers.
Taxable > Traditional Fixed Income None Stated
North America
WA US$ EQUITY PLUS FUND
To achieve a total return, which exceeds that of the S&P 500 Index, by investing in a portfolio comprised primarily of equity index derivatives to gain an exposure to the S&P 500 Index combined with U.S. Dollar denominated debt securities of U.S. Issuers. The Fund may also opportunistically invest in equity securities (in addition to equity index derivatives) to gain exposure to the S&P 500. No more than 10% of the Fund's Net Asset Value may be invested in non-U.S. Dollar denominated instruments.
Taxable > Traditional Fixed Income None Stated
North America
WA US$ MONEY MARKET FUND
To provide a reasonable level of current income, consistent with the preservation of capital, by investing primarily in high quality, short-term money market instruments denominated in U.S. Dollars.
Liquidity > Money Market None Stated
North America
WA US$ SHORTER DURATION FUND - PLUS
To maximize current income, consistent with the preservation of capital, by investing primarily in high quality, short-term debt securities of U.S. Issuers.
Liquidity > Enhanced Cash None Stated
North America
WA US$ TIPS FUND
To maximize total return, consistent with capital preservation, by investing at least 80 percent of its Net Asset Value in U.S. Treasury Inflation Protected Securities ("U.S. TIPS").
Taxable > Traditional Fixed Income None Stated
North America
WA US$ TIPS PLUS FUND
To maximize total return, consistent with capital preservation, by investing primarily in U.S. TIPS. The Fund may also invest in debt securities of U.S. issuers that are not indexed to inflation and in inflation index securities of non-U.S. issuers. No more than 5 percent of the Fund's Net Asset Value may be unhedged against the U.S. Dollar.
Taxable > Traditional Fixed Income None Stated
North America
WA GLOBAL BOND FUND - EX EURO
To maximize total return, through income and capital appreciation, by investing primarily in the non-Euro denominated global fixed income markets. The Fund will invest at least 80 per cent of its Net Asset Value in non-Euro denominated debt securities listed or traded on Regulated Markets, with a bias toward non-sovereign debt securities, including corporate debt securities and mortgage-backed securities.
Taxable > Traditional Fixed Income None Stated
Global
WA GLOBAL BOND FUND - EX UK
To maximize total return, through income and capital appreciation, by investing primarily in the non-Sterling denominated global fixed income markets. The Fund will invest at least 80 per cent of its Net Asset Value in non-Pounds Sterling denominated debt securities listed or traded on Regulated Markets, with a bias toward non-sovereign debt securities, including corporate debt securities and mortgage-backed securities.
Taxable > Traditional Fixed Income None Stated
Global
Core Plus Global 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
Diversified Fixed Interest (DFIT)
To earn a gross rate of return of 1% p.a. in excess of a composite benchmark over rolling three-year periods. The composite benchmark comprises 50% the UBS Australian Composite Bond Index and 50% the Barclays Capital Global Aggregate Index (hedged into Australian dollars).
Taxable > Traditional Fixed Income The composite benchmark comprises 50% the UBS Australian Composite Bond Index and 50% the Barclays Capital Global Aggregate Index (hedged into Australian dollars).
Australia
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
WA GLOBAL CORE PLUS BOND FUND
To maximize total return, through income and capital appreciation, by investing primarily in the global fixed income markets. The Fund will invest primarily in debt securities denominated in various currencies, 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
WA GLOBAL CREDIT BOND FUND
To maximize total return, through income and capital appreciation, by investing primarily in corporate debt securities of issuers that are denominated in U.S. Dollars, Japanese Yen, Euro, Pounds Sterling, and a variety of other currencies.
Taxable > Traditional Fixed Income Barclays Capital Global Aggregate Credit (USD Hedged)
Global
WA GLOBAL MULTI SECTOR FUND
To maximize total return (including income and capital appreciation), strategically, by investing primarily across all sectors of the global fixed income markets by constructing a portfolio of higher yielding debt securities denominated in U.S. Dollars, Japanese Yen, Sterling, Euro and a variety of other currencies of developed and Emerging Markets countries.
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
Global
WA GLOBAL SOVEREIGN BOND FUND
To maximize total return, consistent with preservation of capital, by investing primarily in sovereign debt securities of governments located in developed countries worldwide.
Taxable > Traditional Fixed Income Barclays Capital Global Aggregate - Credit Index (USD Hedged)
Global
WA US$ CORE PLUS BOND FUND
To maximize total return, through income and capital appreciation, by investing at least 80% of the Fund's Net Asset Value in debt securities denominated in U.S. Dollars of U.S. Issuers. Up to 20% of the Fund's Net Asset Value may be invested in investments denominated in other currencies.
Taxable > Traditional Fixed Income Barclays Capital Global Aggregate
North America
WA US$ HIGH YIELD BOND FUND
To provide a high level of current income by investing primarily in U.S. Dollar denominated high yielding debt securities of U.S. Issuers.
Taxable > Traditional Fixed Income Barclays Capital US Corporate High Yield
North America
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
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
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
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
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
Western Asset Intermediate 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 to 5 years.
Taxable > Traditional Fixed Income Barclays Capital Intermediate Government/Credit Index
North America
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
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
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
WA GLOBAL OPPORTUNISTIC BOND FUND
To maximize total return, through income and capital appreciation by investing primarily in the global fixed income markets as opportunities arise. The Fund will invest primarily in debt securities denominated in various currencies, with a bias toward non-sovereign debt securities, including corporate debt securities, mortgage-backed securities, and debt securities of issuers that are domiciled in Emerging Markets countries.
Taxable > Traditional Fixed Income None Stated
Global
Australian 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
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
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
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
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
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
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 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 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 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 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 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
Western Asset Emerging Markets Floating Rate Fund Inc. (EFL)
The Fund seeks 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 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 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 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 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
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 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 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 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
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
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
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 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
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 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 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 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
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
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
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
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
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
Japan Core Full Discretion
Exceed the benchmark return by 100 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
Japan 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 Nomura Bond Performance Index (BPI)
Asia Pacific
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
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
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
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
UK Unconstrained
Exceed the benchmark return by 200 basis points annualized over the course of a market cycle.
Taxable > Traditional Fixed Income FTSE-UK Gilts Over 15 Years Index/Custom Index
Europe
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 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 Treasury Index
North America
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 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
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 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
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 Custom Index
Global
Absolute Return
Maximize return consistent with the current market environment and outperform the broad market over the course of a market cycle.
Taxable > Absolute Return Absolute Return portfolios are not measured against a benchmark.
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 > Absolute Return Returns Benchmark: 3-month LIBOR Risk Benchmark: 10-year U.S. Treasury, measured by value-at-risk
Global
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
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
Global Corporate (Euro Hedged)
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 Global Aggregate Credit, Euro Hedged Index
Global
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 Australia Composite All Index
Australia
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 Enhanced Liquidity
Seeks to achieve returns in excess of the 3-month LIBOR annually over time.
Liquidity > Enhanced Liquidity Custom Index
North America
Australia Diversified (DFI)
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
Australia
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
Global Sovereign (USD Unhedged)
Exceed the benchmark return by 150 basis points annually over the course of a market cycle while approximating benchmark risk.
Taxable > Traditional Fixed Income Citigroup World Government Bond Index
Global
Global Multi-Sector (USD Unhedged)
Exceed the benchmark return 200 basis points annually over the course of a market cycle. Provide income and capital appreciation.
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 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
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 Index
Europe
US TIPS Full Discretion
Exceed benchmark return by 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. TIPS Index (Series L)
North America
UK Corporate
Exceed the benchmark return by 75 basis points annualized over the course of a market cycle while approximating benchmark risk.
Taxable > Traditional Fixed Income Custom Index
Europe
UK High Alpha
Exceed the benchmark return by 150 basis points annualized over the course of a market cycle while approximating benchmark risk.
Taxable > Traditional Fixed Income Custom Index
Europe
Global Credit
Seeks to take advantage of the historically wide spreads currently available globally in the credit sector of the fixed income markets.
Taxable > Traditional Fixed Income Barclays Global Aggregate Credit Index
Global
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 JP Morgan Asian Credit Index (JACI)
Asia Pacific
Asia Local Currency
Exceed the benchmark by 100 to 150 basis points annually over the course of a market cycle while approximating benchmark risk.
Taxable > Traditional Fixed Income HSBC Local Currency Bond Index
Asia Pacific
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
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 90-Day LIBOR
North America
Global SovereignQ
Excess return objectives are customizable based on investors' risk tolerance. Investors can target excess return ranging from 100 to 400 basis points annualized over the course of a market cycle, with corresponding 100 to 400 basis points tracking error targets.
Taxable > Traditional Fixed Income Citigroup World Government Bond Index
Global
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 Custom Index
North America
Managed CurrencyQ
Exceed a cash equivalent benchmark by at least 150 basis points annualized over the course of a market cycle.
Taxable > Traditional Fixed Income Cash Equivalent Benchmark
Global
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
Brazil Equity Core IBrX
Exceed the benchmark return by 250-300 basis points annually over the course of a market cycle while approximating benchmark risk.
Equity The current benchmark is the Brazil IBrX Index. The Index is a total return index that measures the return of a theoretical portfolio composed of the top 100 stocks traded on the Bovespa.
South America
US Structured Products
The Structured Portfolio's investment objective is to 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
Canada Limited Duration
Exceed the benchmark 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