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).
AUTHOR
Oksana Patron
Recommended for you
Dubious marketing strategies involving financial advisers are among reasons that research house SQM Research has put the private credit space on alert.
New Platinum International portfolio manager Ted Alexander has told its retail and wholesale investors how he plans to improve the $4.4 billion fund's performance while the firm is also exploring new fee structures.
Industry commentators are divided about Australia’s appeal for ETF launches by overseas fund managers, with some viewing it as a gateway to Asia-Pacific while others are valuing its unique characteristics.
As private credit funds face further scrutiny, a Perpetual portfolio manager has highlighted key questions for investors to ask when considering these investments.
