Legg Mason brings $12 billion global fixed income fund to UK

Legg Mason has made its $12 billion Brandywine Global Opportunistic Fixed Income fund available to UK investors through its Dublin-domiciled fund range.

The fund will be co-managed by David Hoffman and Stephen Smith and invest primarily in investment-grade sovereigns, and some corporate bond and mortgage-backed securities exposure spread across developed and emerging markets.

According to Legg Mason, non-investment grade exposure will be capped at 35% of the portfolio.

Adam Gent, head of UK sales at Legg Mason Global Asset Management, says: “Brandywine Global’s global opportunistic fixed income strategy has been popular with US retail and institutional investors for many years and has a long track record of outstanding outperformance.

“With demand increasingly moving towards strategies with the flexibility to invest globally in pursuit of strong risk-adjusted and inflation-beating returns, we believe this fund will appeal to UK investors who want diversification and performance through a management team which has the proven ability to deliver in all types of market environment.”

Investments will be spread between eight and 16 countries that Brandywine believes offers the best total return potential.

The fund will aim to outperform the Citigroup World Government Bond index by at least 2% annually over rolling five-year periods.

Initial charge for the fund is 5% and also carries an annual management charge of 1.15%.

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