Legg Mason renames strategic bond fund

The £88.5m Legg Mason Strategic Bond fund is to be renamed to better reflect the underlying securities in which it invests.

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It will become the Legg Mason Sterling Corporate Plus Bond fund on 1 July.

The portfolio’s management will not change and the firm said adjustment was needed to correctly reflect the current investment focus.

The fund has a corporate bond exposure of at least 70 per cent and also has a limited exposure to fixed income securities that have higher alpha-generating capabilities, such as high yield, mortgage backed and asset backed securities.

Legg Mason also recently launched a second fixed income fund, the Legg Mason Global Multi Strategy Bond fund, into its UK ICVC range.

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