Western Asset's Asia Local Currency composite includes portfolios that employ an active, team-managed investment approach around a long-term, value-oriented investment philosophy. These portfolios use diversified strategies and all investment-grade sectors of the fixed-income market in seeking to add value while minimizing risk.

Exceed the benchmark by 150 basis points annually over a 3- to 5-year period while approximating benchmark risk.

Construct a diversified portfolio of sovereign and quasi-sovereign issuers in Asian emerging market countries with a controlled exposure to corporate issuers. Value can be added through country, credit selection and currency.