Legg Mason announced this week that its Australian Bond Trust has been upgraded to 'Highly Recommended’ by ratings house, Lonsec.
The company said the new rating applied as at May 2014.
The Trust is managed by Legg Mason’s largest affiliate fund manager, Western Asset Management, a fixed income specialist with $US469 billion under management with the principal investments of the Trust including government bonds, corporate bonds and other fixed interest securities.
Legg Mason Australia Head of Sales, Beau Titchkosky said he believed the ratings upgrade had recognised Western Asset’s competitive strengths as a mainstream fixed income manager.
“We are receiving increased interest in the Western Asset story from clients, and we are pleased we are able to deliver a positive message with strong performance results,” he said.
