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 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.