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
Wealth managers have said they are experiencing difficulties in aligning their company’s in-house views with the ever-increasing needs of clients, according to MSCI.
The financial advice industry is experiencing a “champagne problem” regarding pricing, with advice firms seeing no need to cut their prices to remain competitive.
Marking a decade offering managed accounts in Australia, BlackRock has elaborated on the changes it has seen in their usage by financial advisers, with net client flows rising from 4 per cent to 25 per cent.
AZ NGA’s CEO has unpacked how its recent $345 million debt facility from Barings will accelerate its advice network’s growth ambitions, and allow its largest firms to access a greater source of funding.
