The team will employ a high-conviction approach and a liquid alternative global macro strategy that aims to maximise total return with a volatility of 5-10 per cent.
Adam Gent, head of UK sales at Legg Mason, said the fund was “a compelling alternative to traditional long-only bond investing”.
| Details |
• Strategy: will use active trading of cash bonds, futures, options and other derivatives. Article continues after advert • Positions will primarily be taken through derivatives for maximum liquidity and can be long, short or market neutral. • The managers will focus on both long-term value investing and active management of duration, yield curve and volatility. • The fund will not gear up and it will have daily liquidity. • AMC: 1.5 per cent for retail A class. • Minimum investment: $1000 or local currency equivalent (sterling or euro). |
IFA verdict: Darius McDermott, managing director of London-based Chelsea Financial Services: “Western Asset is a highly respected bond fund manager and we believe it has credibility in this space.”
