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
Investment solution provider Channel Capital has appointed James Archer as its latest distribution director, joining from Pinnacle Investment Management.
Bennelong Funds Management has signed a memorandum of understanding with US private credit manager Monroe Capital to distribute its products in Australia.
Global equity manager Talaria Capital has appointed a Sydney-based sales director as it grows its distribution presence across Australia.
Global private markets firm Partners Group has launched an evergreen fund to provide Australian advisers with access to its cross-sector royalties strategy.
