Fixed Income

Legg Mason Brandywine Global Income Optimiser Fund

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Daily Statistics As of

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APIR Code/ASX Ticker {{shareClass.altcodes.apir}} -

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AUM

Morningstar Rating

Legg Mason Brandywine Global Income Optimiser Fund
Investment Objective

The Fund’s investment objective is to seek to generate a high and consistent level of income in all market conditions over a full market cycle with a secondary objective of capital preservation. 
 

Highlights
  • Aims to provide an attractive and stable income by investing across diverse sources of income in global fixed income markets
  • Seeks the best global income opportunities, with a strong focus on protecting capital
  • Seeks to limit downside risk by rotating risk across different sectors of the fixed income market and through tactical hedging of credit and interest rate risk 
Fund Overview

  • Risks   

    It is important to understand that the value of the investments may go up and down, investment returns are not guaranteed and investors may lose some of their money. The appropriate level of risk for each person depends on a range of factors, including age, investment time frame and the investor’s risk tolerance.

    For more detailed information relating to the risks of the Fund, please refer to the relevant Product Disclosure Statement.

Annualised Performance (%)

As of
The reported share class has insufficient data history to be able to show past performance.
1-y % 3-y % 5-y % 10-y % Inception

Calendar Performance

As of 
Calendar performance data is not available for selected share class
The reported share class has insufficient data history to be able to show past performance.

(As of ) At NAV excluding sales charges
The reported share class has insufficient data history to be able to show past performance.

  • Total net returns represent past performance only. Past performance is not a reliable indicator of future performance. Returns of the Fund can be volatile and in some periods may be negative. The returns shown have been calculated using the net asset value of the Fund from one period to the next and are after fees and expenses. The return of capital is not guaranteed.

Rolling 12 Month Performance

As of
Annual discrete performance data is not available for selected share class
The reported share class has insufficient data history to be able to show past performance.

(As of ) At NAV
The reported share class has insufficient data history to be able to show past performance.

Cumulative Performance

As of
The reported share class has insufficient data history to be able to show past performance.
YTD % 1-m % 3-m % 1-y % 3-y % 5-y % 10-y %

  • Past Performance is not a reliable indicator of future performance. Please note all performance figures are quoted net of fees.

Daily Statistics

As of
Daily Statistics data is not available for selected share class
Entry Price -
Exit Price -
Total AUM -

Fund Facts

Share class inception date
APIR code
Distribution frequency
Management Cost (%)
Performance Fee
Buy/Sell spread (%)
Suggested investment timeframe
Unit price frequency

  • Management costs and Buy/sell spread are current as at the date of publication of this website. These fees may be subject to change in the future.

Three-Year risk statistics (Annualised)

As of
Three Year Risk Statistics data is not available for selected share class
Risk adjusted alpha
Beta
Standard deviation (%)
Information ratio
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R-squared (%)
M-squared (%)
Treynor ratio
Sharpe ratio

Literature

Product Literature

Forms & Applications

Regulatory Documents

Featured Documents

Portfolio Characteristics

Portfolio statistics

As of
Number of Holdings
Current Yield (%)
Effective Duration
Average Credit Quality
Weighted Average Maturity
Percentage of Top 10 Holdings (%)

Sector breakdown (%)

As of 31/10/2020
Corporate Bond 71.38
Government Sovereign 8.27
Mortgage Backed Securities 7.77
Government Owned - No Guarantee 3.48
Credit Default Swap 0.17
Bond Futures 0.14
Currency Forwards -1.92
Cash 10.70

Currency exposure

As of 31/10/2020
Australian Dollar 100.39
Euro 0.35
Hungarian Forint 0.11
Brazilian Real 0.03
US Dollar -0.88

Credit quality breakdown (%)

As of 31/10/2020
AAA 3.19
A 4.57
BBB 38.47
BB 29.52
B 8.37
CCC 4.84
Not Rated 0.50
Cash 10.53

Country of issue (%)

As of 31/10/2020
United States 56.33
Brazil 10.45
China 4.57
Mexico 3.53
Hungary 2.45
Italy 2.10
Zambia 1.94
Australia 1.56
Israel 1.49
Canada 1.37
Luxembourg 1.21
Netherlands 1.13
Japan 0.92
Panama 0.64
Euro 0.60
Chile 0.54
Switzerland 0.39
Currency Forwards -1.92
Cash & Cash Equivalents 10.70

  • Portfolio holdings and allocation breakdowns are subject to change at any time without notice. The information provided is provided for information purposes only and should not be considered a recommendation to purchase or sell any particular security in the industries shown. Due to rounding totaled percentages may not equal 100%.

    A negative cash position may be apparent, which is primarily due to the Fund's unsettled trade activity. This is a more concise approach to defining the cash position and it best represents sector exposures in the Fund.

Acting with conviction and discipline, we look beyond short-term, conventional thinking to rigorously pursue long-term value across differentiated fixed income, equity, and alternative solutions.

Jack P McIntyre, CFA

Portfolio Manager

With firm since 1998

Brian L Kloss, JD, CPA

Portfolio Manager

With firm since 2009

Anujeet Sareen, CFA

Portfolio Manager

With firm since 2016

Tracy Chen, CFA, CAIA

Portfolio Manager, Structured Credit

With firm since 2008

Holdings

Top 10 Holdings (%)

As of 31/10/2020
SECRETARIA DO TESOURO NACIONAL NOTA DO TESOURO NACIONAL 10.0000% Mat 01/01/2023 2.29
ITALY 1.7% 09/01/51 1.90
ITAU UNIBANCO HLDG SA/KY 6.1250% Mat 12/12/2020 1.74
HUNGAR 3% 08/21/30 1.69
PETROBRAS GLOBAL FINANCE 5.60P 5.6000% Mat 01/03/2031 1.55
AUSTRALIAN GOVERNMENT 1.75PCT 1.7500% Mat 06/21/2051 1.53
IRON MOUNTAIN INC 5.25PCT MAT 5.2500% Mat 03/15/2028 1.47
PETROLEOS MEXICANOS 6.95PCT MA 6.9500% Mat 07/28/2059 1.35
FED NATL MORT ASSC FRN MAT 25/ 2.4991% Mat 07/25/2028 1.34
GS MORT SEC TST SRS 2019-70P C 1.1491% Mat 10/15/2036 1.33

Detailed Holdings

Detailed Holdings data is not available for selected share class
Par/Shares Securities description Market value % of investments Country Maturity Date Asset Type S&P Credit Quality Moodys Credit Quality

  • Portfolio holdings are subject to change at any time without notice. The information provided is provided for information purposes only and should not be considered a recommendation to purchase or sell any particular security. Due to rounding totaled percentages may not equal 100%.

Quantitative Ratings

The Legg Mason Brandywine Global Income Optimiser Fund received an overall rating of 5 stars out of 74 Global MultiStrategy Income as of 31 October 2020. 

Qualitative Ratings

  • You should refer to respective research houses (and their disclaimers on this page) to obtain further information about the meaning of the rating and the rating scale. Ratings are only one factor to be taken into account when deciding whether to invest. Ratings are subject to change without notice and may not be regularly updated.  Ratings are current as at date(s) stated. 

  • Brandywine Global

    Acting with conviction and discipline, Brandywine Global looks beyond short-term, conventional thinking to rigorously pursue long-term value. Since 1986, Brandywine Global has provided a range of differentiated fixed income, equity and alternative solutions from its headquarters in Philadelphia, USA and offices around the globe. 

  • The Professional Planner | Zenith Fund Awards are determined using proprietary methodologies. Fund Awards were issued October 2017, 2016 and 2015 and are solely statements of opinion and do not represent recommendations to purchase, hold or sell any securities or make any other investment decisions. Fund Awards are current for 12 months from the date awarded and are subject to change at any time. Fund Awards for previous years are referenced for historical purposes only. 

  • The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http:// www.zenithpartners.com.au/RegulatoryGuidelines.

  • The Lonsec Ratings presented are published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421445. The Ratings are limited to “General Advice” (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial products. Past performance information is for illustrative purposes only and is not indicative of future performance. They are not a recommendation to purchase, sell or hold Legg Mason Asset Management Australia Limited products, and you should seek independent financial advice before investing in these products. The Ratings are subject to change without notice and Lonsec assumes no obligation to update the relevant documents following publication. Lonsec receives a fee from the Fund Manager for researching the products using comprehensive and objective criteria. For further information regarding Lonsec’s Ratings methodology, please refer to our website at: http://www.beyond.lonsec.com.au/intelligence/lonsec-ratings

  • © 2020 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. Any general advice or ‘class service’ have been prepared by Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or Morningstar Research Ltd, subsidiaries of Morningstar, Inc, without reference to your objectives, financial situation or needs. Refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Our publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. The Morningstar Rating is an assessment of a fund’s past performance – based on both return and risk – which shows how similar investments compare with their competitors. A high rating alone is insufficient basis for an investment decision.)

  • Legg Mason Asset Management Australia Ltd (ABN 76 004 835 849 AFSL 240827) is part of Franklin Resources, Inc. Any reference to Legg Mason Australia is a reference to Legg Mason Asset Management Australia Limited. Legg Mason Australia is the Responsible Entity of the Legg Mason Brandywine Global Australian Funds. Before making an investment decision you should read the Product Disclosure Statement (PDS) for the Fund carefully and you need to consider, with or without the assistance of a financial advisor, whether such an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. The PDS is available and can be obtained by contacting Legg Mason Australia on 1800 679 541. This product has not been prepared to take into account the investment objectives, financial objectives or particular needs of any particular person. Neither Legg Mason Australia, nor any of its related parties guarantees any performance or the return of capital invested. Past performance is not necessarily indicative of future performance. Investments are subject to risks, including, but not limited to, possible delays in payments and loss of income or capital invested. These opinions are subject to change without notice and do not constitute investment advice or recommendation.