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US Long Duration Plus


The strategy 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. The approach is to construct a portfolio primarily consisting of long dated government and corporate bonds. We seek to add value through duration and yield curve positioning, sector rotation, and issue selection. This strategy allows for opportunistic investments in high yield, emerging markets and non-dollar securities.

Investment Vehicles

Performance as of March 31, 2022

Returns for periods greater than one year are annualized. Please see the Performance and Risk Disclosures for more detail.

Portfolio Characteristics as of March 31, 2022

Leverage None
Credit Quality A-
Effective Duration 15.68 years
Spread Duration 9.45 years
Cash Flow Yield 4.29%


Strategy AUM: Total US Long Duration Plus Assets:
USD6.9 billion (as of March 31, 2022)
Benchmark: Bloomberg U.S. Long Government/Credit Bond Index
Inception Date: 01 Jan 94

Sector Allocation as of March 31, 2022

Sectors Market Value (%) Notional
Market Value1 (%)
Benchmark (%)
Investment-Grade Credit 57.0 13.8 52.7
Treasury 21.8 0.0 43.0
Emerging Markets 9.3 0.0 3.7
Structured 5.6 0.0 0.0
High-Yield Credit 1.7 0.0 0.0
Bank Loan 1.1 0.0 0.0
Agency 0.3 0.0 0.6
Developed Non- USD 0.0 0.0 0.0
Other 0.0 0.0 0.0
Cash & Cash Equivalents 3.3 0.0 0.0
Note: Sector allocation includes look-through to any underlying commingled vehicles if held. Data may not sum to total due to rounding.
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.
¹ Notional market value represents derivatives notional market value excluding interbank derivatives.
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.