Legg Mason is renaming the Legg Mason Western Asset Global Blue Chip Bond fund to better reflect its objective amid growing interest in the strategy.
The fund, which aims to achieve returns from high-quality short-dated corporate bonds, will be renamed as the Legg Mason Western Asset Short Duration Blue Chip Bond fund.
Launched in 2009, the $27m fund targets stable returns over a market cycle with low volatility and a typical duration of between two and four years. The fund’s investment strategy will remain unchanged.
Alex Barry, head of UK sales at Legg Mason Global Asset Management, says: “With UK corporate bond yields at record lows, investors should look at a truly global and diversified portfolio in their search for return. By renaming and adjusting the investment guidelines of the fund we hope to better reflect its objective, which it has been following since launch in 2009. We are committed to a client-driven product development and have been working with clients to make these changes.”