Fixed Income

Legg Mason Western Asset Australian Bond Fund

Annualised Net Performance As of

Daily Statistics As of

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Daily Statistics As of

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

Share Class Inception Date

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AUM

Morningstar Rating

Legg Mason Western Asset Australian Bond Fund
Investment Objective
The Fund aims to earn an after fee return in excess of the Benchmark over rolling three-year periods.
Highlights
  • Actively managed Australian bond portfolio that invests across Australian government and semi-government bonds, corporate bonds and assetbacked securities
  • Adds value through multiple actively managed sources, including interest rate management (duration), yield curve positioning, sector and security selection
  • Strong focus on risk management through credit research, diversification of holdings and investment guidelines

  • 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.

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.

  • 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
Benchmark
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
Standard deviation (%)
Information ratio
Tracking error (%)
R-squared (%)
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 Life
Percentage of Top 10 Holdings (%)

Sector breakdown (%)

As of 30/06/2019
Corporate Investment Grade 41.38
Semi-Government 21.31
Government 18.49
Supranational 15.78
Mortgage and Asset Backed 2.35
Cash & Other 0.69

Credit quality breakdown (%)

As of 30/06/2019
AAA 40.53
AA 28.82
A 23.04
BBB 7.61

Country of issue (%)

As of 30/06/2019
Australia 68.74
Supranational 5.33
United States 5.24
Germany 4.86
Canada 2.44
Netherlands 2.40
South Korea 1.71
Switzerland 1.47
New Zealand 1.40
United Kingdom 1.17
Norway 1.01
Belgium 0.68
Japan 0.66
France 0.60
Sweden 0.51
Hong Kong 0.36
China 0.23
Finland 0.20
Singapore 0.17
Denmark 0.12
Cash & Cash Equivalents 0.69

  • 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.

One of the world’s leading global fixed income managers. Founded in 1971, the firm is known for team management and proprietary research, supported by robust risk management and a long-term fundamental value approach.

Holdings

Top 10 Holdings (%)

As of 30/06/2019
CGL 2.25PCT MATURING 21/05/202 2.2500% 2.36
AUSTRALIAN GOVERNMENT 3.00PCT 3.0000% Mat 03/21/2047 1.93
AUSTRALIAN GOVERNMENT BOND 4.5 4.5000% Mat 04/21/2033 1.72
AUSTRALIAN GOVERNMENT 3.75PCT 3.7500% Mat 04/21/2037 1.57
AUSTRALIAN GOVERNMENT 3.25PCT 3.2500% Mat 04/21/2029 1.47
AUSTRALIAN GOVERNMENT 2.75% 21NOV2027 Mat 11/21/2027 1.34
AUSTRALIAN GOVERNMENT 2.75% 21NOV2028 Mat 11/21/2028 1.25
AUSTRALIAN GOVERNAMNT 4.75PCT 4.7500% Mat 04/21/2027 1.13
TREASURY CORPORATION OF VICTORIA 3% 20OCT2028 Mat 10/20/2028 1.12
AUSTRALIAN GOVERNMENT BOND 2.7 2.7500% Mat 06/21/2035 1.08

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%.

Qualitative & Quantitative Ratings
The Legg Mason Western Asset Australian Bond Fund received an overall rating of 5 stars out of 106 Bonds – Australia funds as of 30 June 2019.
The Morningstar Analyst Rating™ for Legg Mason Western Asset Australian Bond strategy is ‘Silver’ as at October 2018.

  • 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. 

  • Western Asset

    Western Asset Management is one of the world’s leading fixed-income managers. With a focus on long-term fundamental value investing that employs a top-down and bottom-up approach, the firm has nine offices around the globe and deep experience across the range of fixed-income sectors. Founded in 1971, Western Asset has been recognized for an approach emphasizing team management and intensive proprietary research, supported by robust risk management.

  • About Legg Mason

    Guided by a mission of Investing to Improve LivesTM, Legg Mason helps investors globally achieve better financial outcomes by expanding choice across investment strategies, vehicles and investor access through independent investment managers with diverse expertise in equity, fixed income, alternative and liquidity investments. Legg Mason has won the Fund Manager of the Year three times over the last four years in 2015, 2017 and 2018.

  • 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 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. 

  •  © 2019 Morningstar, Inc. All rights reserved. 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. 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.

  • 2019 FE Money Management. All rights reserved. The information, data, analyses, and opinions contained herein (1) include the proprietary information of FE Money Management and Lonsec (2) may not be copied or redistributed (3) do not constitute investment advice offered by FE Money Management or Lonsec (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security (5) are not warranted to be correct, complete, or accurate. FE Money Management and Lonsec shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses, or opinions or their use. FE Money Management and Lonsec does not guarantee that a fund will perform in line with its Fund Manager of the Year award as it reflects past performance only. Likewise, the Fund Manager of the Year award should not be any sort of guarantee or assessment of the creditworthiness of a fund or of its underlying securities and should not be used as the sole basis for making any investment decision.

  • Legg Mason Asset Management Australia Ltd (ABN 76 004 835 849 AFSL 240827) is part of the Global Legg Mason Inc. group. 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 Western Asset 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.