Western Asset's Euro Core composite includes portfolios that employ an active, team-managed investment approach around a long-term, value-oriented philosophy. These portfolios use diversified strategies and all fixed-income markets in seeking to add value while minimizing risk.

Exceed the benchmark return by 70 basis points annually over a 3- to 5-year period while approximating benchmark risk.

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