Western Asset
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Process
Philosophy
Overview | Portfolio Characteristics | Performance & Fees
Description
Western Asset's US Tax Efficient Short 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.
Objective
Exceed the benchmark by 30 basis points annually over a 3- to 7-year period, while seeking to obtain the optimal after-tax return.
Approach
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.
Snapshot
Benchmark:
25% Merrill Lynch 2-Year U.S. Treasury; 75% Merrill Lynch 1-3 Year Municipal Bond Index1
Constraints:
Assets Under Management:
Total US Tax Efficient Short Assets: US$663.0 million
Inception Date:
January 01, 1994
How to Invest
Please contact your Client Service Executive or call our main number.
1 From 1/1/06 to current, the Custom Index is comprised of 25% Merrill Lynch 2-Year U.S. Treasury Index and 75% Merrill Lynch 1-3 Municipal Bond Index. From 1/1/97 to 12/31/05, the Custom Index was comprised of 60% Merrill Lynch Current 2-Year U.S. Treasury Index and 40% Merrill Lynch 1-3 Municipal Bond Index. From 1/1/94 to 12/31/96, the benchmark was Merill Lynch Current 2-Year U.S. Treasury Index.
See the Performance Disclosure for more information.