Legg Mason's Fixed-Income Investment Choices
Seven of our bond funds managed by Western Asset won a total of eight awards for best risk-adjusted performance in their Lipper categories over 3- or 5-year periods as of 12/31/07. Legg Mason/Western Asset was also named a Top Fund Family 2008 – ranked 5th out of 640 fund families for having the most number of awards.
Investors can access these funds within the Legg Mason Partners Funds and the Western Asset Funds. Visit our product overview page to learn more about these fund families. You can also view full performance information for Funds managed by Western Asset.
| Legg Mason Partners Funds: |
| Legg Mason Partners Managed Municipals Fund, Class 1 (SMMOX)* Best among 210 general municipal debt funds for 3 years as of 12/31/07 |
| Legg Mason Partners Municipal High Income Fund, Class A (STXAX) Best among 81 high yield municipal debt funds for 3 years as of 12/31/07 |
| Legg Mason Partners Pennsylvania Municipals Fund, Class A (SBPAX) Best among 51 Pennsylvania municipal debt funds for 3 years as of 12/31/07 |
| Legg Mason Partners Massachusetts Municipals Fund, Class A (SLMMX) Best among 51 Massachusetts municipal debt funds for 3 years, and best among 49 funds for 5 years as of 12/31/07 |
| Legg Mason Partners New Jersey Municipals Fund, Class A (SHNJX) Best among 42 New Jersey municipal debt funds for 5 years as of 12/31/07 |
| Western Asset Funds: |
| Western Asset Inflation Indexed Plus Bond Portfolio, Institutional Class (WAIIX) Best among 92 Treasury Inflation Protected Securities funds for 3 years as of 12/31/07 |
| Western Asset Intermediate Bond Portfolio, Institutional Class (WATIX) Best among 104 short-intermediate investment grade debt funds for 5 years as of 12/31/07 |
Past performance is no guarantee of future results. The Lipper Fund Awards 2008 winners are selected using the Lipper Leader rating for consistent returns for funds with at least 36 months of performance history as of the end of the evaluation year. Awards are presented for the highest Lipper Leader for Consistent Return within each eligible classification over 3, 5 or 10 years. Lipper ratings for Consistent Return reflect funds' historical risk-adjusted returns, adjusted for volatility, relative to peers. The ratings are subject to change every month, and are based on an equal-weighted average of percentile ranks for the Consistent Return metric over 3-, 5-, and 10-year periods (if applicable). The 2008 awards incorporate risk-adjusted performance data as of 12/31/07. Lipper Inc. is a major independent mutual fund tracking organization.
The Top Fund Family designation is for those fund companies with the highest number of Lipper Awards over those time periods. The Legg Mason Partners Funds and the Western Asset Funds are fund families managed by investment firms that are subsidiaries of Legg Mason, Inc.
* Class 1 shares may only be purchased by existing shareholders.
Investors should consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about a fund. To obtain a free prospectus, please view the product specific page on this website and click on the prospectus link. An investor should read the prospectus carefully before investing.
Copyright © 2008 Legg Mason Investor Services, LLC. Member FINRA, SIPC
Legg Mason Investor Services, LLC, and Western Asset Management Company are subsidiaries of Legg Mason, Inc.
INVESTMENT PRODUCTS: NOT FDIC INSURED / NO BANK GUARANTEE / MAY LOSE VALUE