Western Asset's Commodity Plus composite includes portfolios that invest in a strategy comprised of two components: a synthetic commodity component that will provide exposure to the Index through the use of derivatives, and a fixed-income component intended to generate gains through short-term investments, in excess of the portfolio's expenses.

Exceed the benchmark by 50 basis points annually over 3- to 5-year period while approximating benchmark risk.

Construct a portfolio in which it is anticipated to primarily gain exposure to the Index through one or more swaps agreements. However, the portfolio may also gain exposure to the Index through other derivatives. The portfolio anticipates that it will continue to maintain exposure to the Index even when the Index is declining.