Our goal1
Total return with an emphasis on income.
What we invest in
The Fund invests in a broad range of equity and fixed income securities of both U.S. and foreign issuers, including up to 25% of its total assets in energy master limited partnerships (MLPs). The Fund will vary its allocation between equity and fixed income securities depending on the Investment Manager's view of economic, market or political conditions, fiscal and monetary policy and security valuation. Depending on the Investment Manager's view of these factors, which may vary from time to time, the Investment Manager may allocate substantially all of the investments in the portfolio to equity securities or fixed income securities.
Our approach
The Portfolio's manager applies a rigorous, "bottom-up"
research process to identify companies with strong fundamentals, skilled and committed management teams and a clear market
advantage. Through patient management, the Portfolio seeks to capture earnings growth from companies offering new or innovative technologies, products and services.
What I should know before investing?
All investments are subject to risks, including the possible loss of principal. Investments in foreign securities involve risks, including the possibility of losses due to changes in currency exchange rates and negative developments in the political, economic, or regulatory structure of specific countries or regions. The Fund's fixed income investments are subject to credit risk, inflation risk, and interest rate risk. As interest rates rise, bond prices fall, reducing the value of a fund's share price. The Fund may invest in lower-rated high yield bonds which are subject to greater credit risk (risk of default) than higher-rated obligations. The Fund's investments in energy related MLPs subject it to additional risk, including the risks of MLPs and the energy sector. Leverage may result in greater volatility of NAV and the market price of common shares and increases a shareholder's risk of loss. The Fund may make significant investments in derivative instruments. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on Fund performance.
Meet your ClearBridge and Western Asset managers
Peter Vanderlee, CFA (industry since 1999) is your Fund's portfolio manager and oversees the allocation between equity and fixed income. The team also includes Mark McAllister (industry since 1987), Tim Daubenspeck (industry since 1999) and Tatiana Thibodeau (industry since 1999).
They're part of ClearBridge Advisors, Legg Mason's largest equity manager. ClearBridge offers institutional and individual investors a variety of traditional and alternative equity strategies. Western Asset uses a team-based approach to manage the fixed-income portion of your Fund. They're one of the world's largest and leading fixed-income managers, focusing exclusively on fixed income since its founding in 1971.
Legg Mason's unique structure provides you with access to this specialized expertise. We offer a powerful portfolio of solutions through our independent investment management firms.
Category: Income & Preferred Stock Funds
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