Investment Objective
The Fund seeks to provide shareholders with liquidity and as a high a level of current income as is consistent with preservation of capital.
Investment Strategy
The Fund invests in high quality, short-term money market instruments denominated in U.S. dollars. These may include obligations issued by U.S and foreign banks, commercial paper, asset-backed commercial paper and other mortgage- and asset-backed securities; short-term obligations of the U.S. government, its agencies or instrumentalities, and repurchase agreements for these obligations, and obligations issued or guaranteed by the governments of Western Europe, Australia, Japan and Canada. The Fund may invest more than 25% of its assets in bank obligations, such as certificates of deposit, fixed time deposits and bankers' acceptances.
Investment Risks
Although the Fund seeks to preserve the value of your investment at one dollar per share, it is possible to lose money by investing in the Fund, or the Fund could underperform other short-term debt instruments or money market funds if:
- interest rates rise sharply;
- an issuer or guarantor of securities held by the fund defaults or has its credit rating downgraded; or
- the manager's judgment about the value or credit quality of a particular security proves to be incorrect.
Investing in foreign securities is subject to certain risks not associated with domestic investing, such as currency fluctuations, and changes in political and economic conditions.
To the extent that the Fund invests in asset-backed, mortgage-backed or mortgage-related securities, its exposure to prepayment and extension risks may be greater than investments in other fixed income securities.
An investment in a money market fund is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
Investment Management
Managed By Western Asset
- Best known as an active fixed-income manager offering products spanning the yield curve and the globe.
- Founded in 1971, the Firm's philosophy centers upon a team approach that unites groups of specialists dedicated to different market sectors.
Legg Mason, Inc., its affiliates, and its employees are not in the business of providing tax or legal advice. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties. Tax-related statements, if any, may have been written in connection with the "promotion or marketing" of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.
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. Please note that an investment in a money market fund is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund."Citi" is a service mark of Citigroup, licensed for use by Legg Mason as the name of funds. Legg Mason and its affiliates, as well as the Funds' investment manager, are not affiliated with Citigroup.
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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
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FINRA,
SIPC
