Product

Legg Mason Brandywine Global Opportunistic Fixed Income Fund (PIE)

The Fund searches the globe for attractive real yield opportunities. The Fund is an alpha seeking, high conviction strategy with a ‘go anywhere’, opportunistic style with strict risk limits in place to avoid over-exposure to any one region or issuer. Combining bond and currency strategies, the Fund aims to deliver a truly global opportunity set for New Zealand fixed income investors.

Designed specifically for New Zealand Investors

The Fund has been established as a portfolio investment entity (PIE) to ensure the best possible outcomes for New Zealand investors. The PIE fund wrapper is a distinctive solution that allows retail investors and their advisers to invest in the successful strategy that has previously only been available to the wholesale market.

Ratings

FundSource
AAA
Key Fund Facts

Strategy Objective

To capture interest income and additionally generate principal growth through capital appreciation when conditions permit. The strategy seeks to outperform the benchmark by 2%, on an average annual basis, over rolling five-year periods.

Investment Universe

Primarily invests in developed market sovereign debt and currencies. It can also invest in corporate investment grade debt, high yield debt, mortgages and emerging market sovereign debt currencies.

Derivatives

Currency forwards are used to hedge currency risk and/or potentially enhance total returns. Other derivatives, such as futures and swaps, are permissible although utilized infrequently.

Geographic Concentration

Typically 10-20 countries, restricted ranges for lower-quality, non-benchmark countries and currencies.

Benchmark

FTSE WGBI (Hedged to NZD)

Minimum Average Portfolio Credit Quality

A- or better

Effective Duration

1 to 10 years