Western Asset's US High Yield composite includes portfolios that employ an actively managed approach that is risk controlled and assimilates the Firm's top-down macro-economic views with credit analysts' fundamental and relative value views regarding industry and issuer opportunities in an effort to build and maintain a portfolio that generates superior risk-adjusted returns.

Exceed the benchmark return by 150 basis points annually over a 3- to 7-year period while approximating benchmark risk.

Construct and maintain a diversified portfolio of high-income securities. Value can be added through issuer/issue selection and sector rotation. Western uses various tools, both external and proprietary, to help identify, measure and manage portfolio risk.