Western Asset's Australia Core 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 return by 75 basis points annually over a 3- to 5-year period while approximating benchmark risk.

Construct a diversified portfolio using all major Australian fixed-income sectors with a bias towards non-government securities. Value is added through duration management, yield curve positioning, sector rotation and issue selection. Market risk is controlled by constraining duration exposure.