Western Asset's US Limited Duration composite includes portfolios that employ an active, team-managed investment approach around a high quality, 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 50 basis points annually over a 3- to 7-year period.

Construct a portfolio using all major fixed-income sectors with a bias towards non-Treasuries, especially corporate, mortgage-backed and asset-backed securities. Value can be added through sector rotation, issue selection, duration and term structure weighting.