Legg Mason strategy on Netwealth
Legg Mason’s liquid alternatives strategy, the Western Asset Macro Opportunities Bond Fund, has been added to the Netwealth superannuation and investment platform.
Legg Mason said its strategy had been added to Netwealth following a strong demand from financial advisers and their clients.
Country head Legg Mason Australia and New Zealand, Andy Sowerby, said: “We are delighted that growing client interest has led to the Legg Mason Western Asset Macro Opportunities Bond Fund now being added to the Netwealth superannuation and investment platform”.
“This is the fastest growing strategy in the Legg Mason fixed income suite of products globally, with total assets recently surpassing A$13 billion.”
Western Asset developed an aggressive, unconstrained fixed income strategy – Macro Opportunities – in 2012 to offer investors the opportunity to generate returns in a slow growth, low-rate environment. The strategy aimed to be opportunistic and defensive, yet offer an attractive risk/reward profile.
The strategy had an average annualised return, gross of fees, of 10.9 per cent with an ex-post volatility of 6.1 per cent, according to a recent Western Asset client update.
The bond fund has a ‘recommended’ rating from Zenith Partners.
Western Asset Management manages US$432.7 billion in funds as at 31 March, 2017.
AUTHOR
Malavika Santhebennur
Recommended for you
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
