This actively managed, unconstrained Fund has the flexibility to manage risks and seize opportunities throughout the interest rate cycle.

 


Western Asset Macro Opportunities Fund is a global-macro fixed income strategy that seeks to maximize total return through opportunistic long-term value investing, including active management of duration, yield curve and portfolio volatility.


Key Features for Your Portfolio:

 

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Flexibility for Changing Conditions

Conditions can evolve rapidly in the global bond market, and this Fund’s mandate allows for a wide range of responses.

 

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Fixed Income Diversification

Going beyond traditional bond sectors can provide a useful counterpoint to traditional fixed income strategies.

 

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Portfolio Diversification

Long term, the fund may have low correlation to equities and traditional fixed income, but may also exhibit some volatility along the way.

 


Investment Guidelines

 

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1 Rating requirement applies to time of purchase

 

Today’s bond market environment remains uncertain, but Western Asset believes that recent volatility has created very attractive levels of value for investors in the Western Asset Macro Opportunities Fund. Western also believes that this strategy can play an important role in meeting the longer‐term challenges facing fixed income investors today.

 

Fund Focus


LAOIX - Western Asset Macro Opportunities Fund

100% actively managed and entirely independent of benchmark constraints

Featured Resources


Discover Western Asset

Western Asset’s active approach combines long-term fundamental value with multiple diversified strategies.


Making the Most of Fixed Income Investing Now

Is your bond allocation doing all it can do?


On EM Valuations and Fundamentals

Why Western believes EM valuation and fundamentals will carry the day.




Definitions:

The term “unconstrained” refers to investment strategies not constrained by traditional relative performance benchmarks.

Correlation is a statistical measure of the relationship between two sets of data. When asset prices move together, they are described as positively correlated; when they move opposite to each other, the correlation is described as negative or inverse. If price movements have no relationship to each other, they are described as uncorrelated.

Duration measures the sensitivity of price (the value of principal) of a fixed-income investment to a change in interest rates. The higher the duration number, the more sensitive a fixed-income investment will be to interest rate changes.

 

 

All investments involve risk, including loss of principal. Past performance is no guarantee of future results. Please see each product’s web page for specific details regarding investment objective, risks, performance and other important information. Review this information carefully before you make any investment decision.

Diversification does not guarantee a profit or protect against a loss.

Carefully consider a fund’s investment objectives, risks, charges and expenses before investing. Please view the prospectus or summary prospectus, for this and other information. Read it carefully.

The Fund's investment strategies and portfolio investments differ from those of many other mutual funds.

The manager may devote a significant portion of the Fund's assets to pursuing an investment opportunity or strategy, including through the use of derivatives that create a form of investment leverage in the Fund. This approach to investing may make the Fund a more volatile investment than other mutual funds and cause the Fund to perform less favorably than other mutual funds under similar market or economic conditions. 

International investments are subject to special risks including currency fluctuations, social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets.

Fixed-income securities involve interest rate, credit, inflation, and reinvestment risks; and possible loss of principal. As interest rates rise, the value of fixed-income securities falls.

High yield bonds are subject to greater price volatility, illiquidity, and possibility of default.

Asset-backed, mortgage-backed or mortgage-related securities are subject to prepayment and extension risks.

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

Leverage increases the volatility of investment returns and subjects investments to magnified losses and decline in value.