Western Asset's US Long Duration Full Discretion composite includes portfolios that employ an active, team-managed investment approach with a long-term, value-oriented investment philosophy. These portfolios use diversified strategies and selected investment-grade sectors of the fixed income market in seeking to add value while minimizing risk.

Exceed the benchmark return by an average of 115 basis points annually over the course of a market cycle while approximating benchmark risk.

Construct tightly-constrained portfolios predominantly using governments and corporates with duration targets in excess of 8 years. Enhance portfolio strategy and control risk through the use of derivatives.