Ratings upgrade for Legg Mason fund
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.
AUTHOR
Mike Taylor
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
