Western Asset's US Tax Efficient Intermediate composite includes portfolios that employ an active, team-managed strategy utilizing a top-down economic and interest rate outlook, combined with a bottom-up security selection process.

Exceed the benchmark by 30 basis points annually over a 3- to 7-year period, while seeking to obtain optimal after-tax return.

Construct a portfolio using Treasuries, Agencies, asset-backed securities, mortgage-backed securities and municipal securities. Value can be added through yield curve management (duration and position), sector allocation and issue selection.