Western Asset Aus Bond Fund hits $1bn



Legg Mason has announced that its actively-managed Western Asset Australian Bond Fund has passed $1 billion in funds under management.
The fund, which was designed to invest in Australian dollar-denominated debt securities paying fixed or floating rate coupons issued by governments, supernational bodies and Australian and foreign corporates, outperformed the Bloomberg AusBond Composite 0+ Year index and was ranked top quartile in its peer groups over three, five and 10 years, the firm said.
Anthony Kirkham, head of investment management and Australian operations at Western Asset, said the fund favoured higher quality assets and currently had an average ‘AA’ credit rating.
“With equity market volatility increasing, as well as broader concerns around global growth and political outcomes, the defensive qualities of a well-constructed bond fund can add much needed diversification and protection to an overall portfolio,” he added.
A listed version of the Fund was launched in November 2018 as Australia’s first fixed income Active ETF – the BetaShares Legg Mason Australian Bond Fund (BNDS).
Recommended for you
Women are expected to inherit US$124 trillion through the intergenerational wealth transfer, but Capital Group has found they are twice as likely to rely on social media for advice over a financial adviser.
Challenger Investment Management has raised $350 million during the offer period for its new ASX-listed investment structure.
A week after Lonsec downgraded multiple funds from Metrics Credit Partners, rival research house Zenith Investment Partners has opted to retain its ratings for the same funds.
Strong adviser engagement has helped Praemium reach $1 billion in inflows on its Spectrum offering, with a deal with Western Australian wealth firm Euroz Hartleys expected to add as much as $2 billion.