Fixed Income

ISIN {{shareClass.altcodes.isin}} -

Share Class Inception Date

Performance Inception Date


Morningstar Rating

Fund AIM

The Fund seeks to maximise total return, consisting of capital appreciation and income, by investing at least two-thirds of its Net Asset Value in debt securities that are listed or traded anywhere in the world, including Emerging Market Countries. At least 65% of the Fund's Net Asset Value will be invested in debt securities with an Investment Grade credit quality rating. The manager follows a value approach to investing and will concentrate investments in undervalued markets that the manager believes will provide the best opportunity for declining interest rates and a return to lower real rates over time. 

Fund Managers

David F. Hoffman, CFA
Stephen S. Smith
Jack P. McIntyre, CFA
Anujeet Sareen, CFA

  • The value of investments and the income from them may go down as well as up and you may not get back the amount you originally invested. 

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.

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 %

Calendar Year 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.

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

(As of ) At NAV
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.

  • Past performance is not a reliable indicator of future results. Source for performance figures - Legg Mason. NAV to NAV, with gross income reinvested without initial charges but reflecting annual management fees. Sales charges, taxes and other locally applied costs have not been deducted, had they been deducted performance results would be lower. Investment return and principal value of an investment in the Fund will fluctuate, and shares may be worth more or less than their original cost when redeemed. Comparisons to relevant indexes and peer groups are included as a standard against which the performance of a fund can be measured. Index and peer group returns do not reflect any fees, expenses or sales charges. An investor cannot invest directly in an index or peer group. 
    Source for sector median performance: Copyright - © 2019, Morningstar Inc. All Rights Reserved.The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For more information, visit

    From 25 March 2019, the pricing of securities held in the Fund will use the mean (or mid) value of the bid and ask prices, to calculate the Fund’s Net Asset Values (“NAV”). The Fund previously used a bid price methodology for fixed income securities, and last traded price for equity securities.

    " - " indicates no data available.

  • Performance shown includes periods prior to the Fund’s inception date, reflecting performance of a predecessor fund with a substantially similar investment objective and policy and whose assets were transferred into this Fund on the date indicated above. The performance data should be used for illustrative purposes only, as performance prior to the inception date has not been adjusted to reflect the higher fees of the Fund.

Fund Facts

Fund inception date
Share class inception date
Predecessor Fund inception date
Morningstar GIFS peer group
Base Currency
Distribution frequency
Annual management fee (%)

Daily Statistics

As of
Daily Statistics data is not available for selected share class
Change -
% Change -
12-month high -
12-month low -
Total AUM (in millions) -

Fund codes

Fund Codes data is not available for selected share class

Three-Year risk statistics (Annualised)

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


Minimum initial investment
Entry Charge
Exit Charge
Ongoing Charge
Performance Fee

Portfolio Characteristics

Portfolio statistics

As of
Number of Holdings
Current yield (%)
Effective Duration
Yield to worst (%)
Average credit quality
Weighted Average Maturity
Weighted Average Life
Percentage of top 10 holdings (%)

Currency Exposure (%)

As of 30/09/2019
British Pound 16.30
Mexican Peso 11.22
Australian Dollar 10.38
US Dollar 8.47
Norwegian Krone 6.26
Chilean Peso 6.21
Polish Zloty 5.40
Swedish Krona 5.24
Indonesian Rupiah 4.99
Colombian Peso 4.79
Brazilian Real 4.70
Malaysian Ringgit 4.65
South Korean Won 3.95
New Zealand Dollar 3.87
Czech Koruna 1.94
Russian Ruble 1.31
Euro 0.22
South African Rand 0.10

Sector breakdown (%)

As of 30/09/2019
Government Sovereign 82.06
Corporate Bond 10.50
Government Regional Agencies 3.02
Government Sovereign Agency 2.02
Government Owned - No Guarantee 0.94
Mortgage Backed Securities 0.48
Currency Forwards -0.79
Cash 1.77

Country Allocation (%)

As of 30/09/2019
United States 45.29
Mexico 14.95
Australia 5.90
Poland 5.40
Colombia 4.79
Brazil 4.70
Malaysia 4.65
Indonesia 4.16
South Africa 4.11
Norway 2.98
Germany 1.87
Spain 0.21
Currency Forwards -0.79
Cash & Cash Equivalents 1.77

Credit quality breakdown (%)

As of 30/09/2019
AAA 42.48
AA 2.44
A 29.35
BBB 14.85
BB 8.80
B 0.34
Cash 1.76

  • Percentages are based on total portfolio as of date displayed and are subject to change at any time. Holdings and allocations breakdowns are provided for information purposes only and should not be deemed a recommendation to buy or sell the securities mentioned or securities 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. 


Product Literature

Forms & Applications

Regulatory Documents

Featured Document

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.

Investment Risks

Risk Reward Profile*

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7

1Lower risk

Potentially lower reward

7Higher risk

Potentially higher reward


Top 10 Holdings (%)

As of 30/09/2019
UNITED STATES TREASURY FLOATIN 2.0532% Mat 04/30/2021 12.87
UNITED STATES TREASURY NOTE/BO 3.0000% Mat 02/15/2049 8.81
UNITED STATES TREASURY NOTE/BO 2.6250% Mat 02/15/2029 6.12
UNITED STATES TREASURY FLOATIN 2.1342% Mat 07/31/2021 5.70
MEXICO ST 7.75% 11/13/42 4.65
INDONESIA 9% 03/15/29 3.30
MEX BONOS DESARR FIX RT 8.5000% Mat 11/18/2038 3.29
MEXICO ST 8.5% 05/31/29 3.05
BRAZIL 10% 01/01/27 2.87
AUSTRALIAN GOVERNMENT 2.75% 21OCT2019 Mat 10/21/2019 2.85

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. This information is provided for information purposes only and should not be construed as a recommendation to purchase or sell any security. The summation of the "Total Net assets %" may not equal 100%. Any difference is due to the portfolio's allocation to cash and cash equivalents.

    Derivatives, if any, such as options and futures, which can be illiquid, may disproportionately increase losses and have a potentially large impact on Fund performance.


Distributions data is not available for selected share class
Ex-dividend/Reinvest date Payable date Reinvest price () Ordinary income ()

  • Distributions are not guaranteed and are subject to change.


    This is a sub-fund of Legg Mason Global Funds plc (" LMGF plc"). LMGF is an open-ended investment company with variable capital, organised as an undertaking for collective investment in transferable securities (" UCITS").   LMGF is authorised in Ireland by the Central Bank of Ireland.

    Information has been prepared from sources believed reliable. It is not guaranteed in any way by any Legg Mason, Inc. company or affiliate (together "Legg Mason").

    Before investing investors should read in their entirety LMGF plc's application form and a fund's share class KIID and the Prospectus (which describe the investment objective, charges and expenses, and risk factors in full). These and other relevant documents are available under the Literature tab. Read them carefully before investing.