LGIAsuper awards Brandywine with $100m EM debt mandate

Queensland’s superannuation fund, LGIAsuper, has awarded Brandywine Global, an affiliate of Legg Mason, a $100 million emerging market debt mandate.

The funds would be invested via the Brandywine Global Sovereign Credit fund, which was first launched in 2012, and invests in bonds with high real yield.

The fund is measured against the Barclays Capital 60/40 Sovereign Credit Index and looks beyond short-term, conventional thinking to rigorously pursue long-term value, the firm said.

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According to director of institutional business for Legg Mason, Colin Taylor, the fund managed to achieve results for investors by focussing on assets that were mispriced and trading significantly below measures of fair value.

“Brandywine Global also benefits by identifying investments that its macro research suggests could face positive information surprises,” he added.

“At LGIAsuper we are always looking for new ways to benefit our members and the mandate with Brandywine provides us a new opportunity to do this,” LGIAsuper chief executive, Kate Farrar, said.

“We are excited to see the benefits that this partnership with Brandywine Global will bring.”



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