Emerging Markets Corporate
Characteristics
June 30, 2024
| Credit Quality | BBB- |
| Effective Duration | 4.31 years |
| Spread Duration | 4.03 years |
| Leverage | None |
Sector Allocation
June 30, 2024
| Sectors | Portfolio (%) | Benchmark (%) |
|---|---|---|
| Oil & Gas | 13.7 | 12.0 |
| Transport | 0.0 | 1.9 |
| Infrastructure | 1.4 | 1.6 |
| Consumer | 8.6 | 10.4 |
| Pulp & Paper | 1.8 | 1.1 |
| Industrial | 9.2 | 10.0 |
| Local Currency | -2.2 | 0.0 |
| Diversified | 0.8 | 1.6 |
| Real Estate | 0.7 | 3.2 |
| Metals & Mining | 7.7 | 6.3 |
| Utilities | 13.8 | 10.8 |
| TMT | 10.2 | 9.7 |
| Financial | 18.3 | 31.5 |
| InterBank - FUTURES | 0.0 | 0.0 |
| Sovereign | 9.3 | 0.0 |
| Cash | 4.0 | 0.0 |
| USD FX Forwards | 2.7 | 0.0 |
Country Exposure
June 30, 2024
| Top Ten (MV) | Portfolio (%) | Benchmark (%) |
|---|---|---|
| Mexico | 7.9 | 4.4 |
| Brazil | 7.3 | 4.4 |
| Colombia | 6.0 | 3.6 |
| South Korea | 5.7 | 4.6 |
| Chile | 5.3 | 3.8 |
| United States | 4.8 | 1.5 |
| Israel | 4.8 | 3.1 |
| Turkey | 4.6 | 3.9 |
| India | 4.2 | 4.2 |
| South Africa | 4.2 | 2.4 |
Sector allocation includes look-through to any underlying commingled vehicles if held. Data may not sum to total due to rounding.
Snapshot
| Strategy AUM: | USD532.9 million, August 31, 2024 |
|---|---|
| Benchmark: | J.P. Morgan CEMBI Broad Diversified |
| Inception Date: | March 1, 2008 |
| Investment Vehicles: | Separate Accounts and Commingled Vehicles |
| For more information, contact your Client Service Executive or call us at 1-626-844-9400. |
|
Performance
| June 30, 2024 | Composite (gross) | Composite (net) | Benchmark |
|---|---|---|---|
| 1 Year | 9.0 | 8.6 | 9.3 |
| 3 Years | -0.4 | -0.8 | -0.3 |
| 5 Years | 2.5 | 2.1 | 2.2 |
| 10 Years | 2.9 | 2.5 | 3.5 |
| Since Inception 01-Mar-08 | 5.1 | 4.7 | 5.1 |
| December 31, 2023 | Composite (gross) | Composite (net) | Benchmark |
|---|---|---|---|
| 1 Year | 8.2 | 7.8 | 9.1 |
| 3 Years | -1.4 | -1.8 | -1.2 |
| 5 Years | 3.7 | 3.3 | 3.2 |
| 10 Years | 3.3 | 2.9 | 3.8 |
| Since Inception 01-Mar-08 | 5.0 | 4.6 | 5.1 |
Past investment results are not indicative of future investment results. Returns for periods greater than one year are annualized. Gross-of-fees returns are presented before management fees, but after all trading expenses. Net-of-fees results are calculated using a model approach whereby the current highest tier of the appropriate strategy's fee schedule is used. Effective January 1, 2020, for annual periods where the actual account weighted fees are higher than the composite model fee, the actual account weighted fees will be used for the net-of-fee composite return calculations. Net-of-fee composite return calculations using actual account weighted fees may include fund returns that incur higher fees than those applied to separately managed accounts. Please see the Performance and Risk Disclosures for more information.
IMPORTANT INFORMATION: All investments involve risk including loss of principal. Past performance is not indicative of future investment results. This information is only for use by professional clients, eligible counterparties or qualified investors. It is not aimed at, or for use by, retail clients.
Employees and/or clients of Western Asset may have a position in the securities mentioned. This has been prepared without taking into account your objectives, financial situation or needs. Before acting on this information, you should consider its appropriateness having regard to your objectives, financial situation or needs. It is your responsibility to be aware of and observe the applicable laws and regulations of your country of residence.
Western Asset Management Company Distribuidora de Títulos e Valores Mobiliários Limitada is authorized and regulated by Comissão de Valores Mobiliários and Brazilian Central Bank. Western Asset Management Company Pty Ltd ABN 41 117 767 923 is the holder of the Australian Financial Services Licence 303160. Western Asset Management Company Pte. Ltd. Co. Reg. No. 200007692R is a holder of a Capital Markets Services Licence for fund management and regulated by the Monetary Authority of Singapore. Western Asset Management Company Ltd is a registered Financial Instruments Business Operator and regulated by the Financial Services Agency of Japan. Western Asset Management Company Limited is authorised and regulated by the Financial Conduct Authority ("FCA") (FRN 145930). This communication is intended for distribution to Professional Clients only if deemed to be a financial promotion in the UK as defined by the FCA. This communication may also be intended for certain EEA countries where Western Asset has been granted permission to do so. For the current list of the approved EEA countries please contact Western Asset at +44 (0)20 7422 3000.
Western Asset Management Company Distribuidora de Títulos e Valores Mobiliários Limitada is authorized and regulated by Comissão de Valores Mobiliários and Brazilian Central Bank. Western Asset Management Company Pty Ltd ABN 41 117 767 923 is the holder of the Australian Financial Services Licence 303160. Western Asset Management Company Pte. Ltd. Co. Reg. No. 200007692R is a holder of a Capital Markets Services Licence for fund management and regulated by the Monetary Authority of Singapore. Western Asset Management Company Ltd is a registered Financial Instruments Business Operator and regulated by the Financial Services Agency of Japan. Western Asset Management Company Limited is authorised and regulated by the Financial Conduct Authority ("FCA") (FRN 145930). This communication is intended for distribution to Professional Clients only if deemed to be a financial promotion in the UK as defined by the FCA. This communication may also be intended for certain EEA countries where Western Asset has been granted permission to do so. For the current list of the approved EEA countries please contact Western Asset at +44 (0)20 7422 3000.