Western Asset
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Process
Philosophy
Overview | Portfolio Characteristics | Performance & Fees
Description
Western Asset's Global Multi-Sector 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 sectors of the fixed-income market in seeking to add value while minimizing risk.
Objective
Exceed the benchmark return 200 basis points annually over a 3- to 5-year period. Provide income and capital appreciation.
Approach
Construct a strategic multi-sector high yield portfolio by investing in global fixed-income markets and currencies. Primarily, these are mortgage- and asset-backed securities, high-yield corporate securities, investment grade corporate and government securities and emerging market government securities. Value can be added by active sector selection and by security selection. Portfolio risk is controlled through broad diversification across markets and sector.
Snapshot
Benchmark:
50% Lehman Global Aggregate Index Unhedged
25% Lehman Brothers High Yield Index - 2% Issuer Cap
25% JP Morgan EMBI+ Index1
Constraints:
Average Quality: BBB+
Assets Under Management:
Total Global Multi-Sector Assets: US$3.5 billion
Inception Date:
November 01, 1996
How to Invest
Please contact your Client Service Executive or call our main number.
Invest Through Other Vehicles
Dublin Domiciled Institutional Mutual Fund:   WA Global Multi Sector Fund (LMGEFDF)

1 As of 10/01/05, the Custom Index is comprised of 50% Lehman Global Aggregate Index; 25% Lehman Brothers High Yield Index - 2% Issuer Cap; 25% JP Morgan EMBI+ Index. From 1/1/02 to 9/30/05, the Custom Index was comprised of 50% Lehman Global Aggregate Index; 25% Lehman Brothers Corporate High Yield Index; 25% JP Morgran EMBI+ Index. Prior to that, the Custom Index was comprised of 50% Citigroup World Government Bond Index Unhedged; 25% Lehman Brothers High Yield Index; 25% JP Morgan EMBI+ Index.
See the Performance Disclosure for more information.