Legg Mason’s bond fund ‘highly recommended’ by Lonsec
Lonsec has given its ‘highly recommended’ rating to the Legg Mason Western Asset Australian Bond Fund.
In its report, Lonsec praised the fund for its ability to generate risk-adjusted returns in line with relevant objectives and considered it to be “a preferred entry point to this asset class”.
The fund’s strength was also attributed to its highly capable investment team, headed by portfolio manager Anthony Kirkham, as well as its global peers’ expertise.
The fund, which won in the Australian Fixed Income category at this year’s Money Management Fund Manager of the Year Awards, is an Australian bond product managed against the Bloomberg AusBond Composite 0+ year Index.
It invests in Australian-denominated debt securities paying fixed or floating coupons issued by governments, supernational bodies, and Australian and foreign corporates.
According to FE Analytics, the fund’s annualised performance over the last three years was 3.14 per cent against the Bloomberg AusBond Index, which returned 1.96 per cent.
According to Legg Mason’s managing director, Australia and New Zealand, Andy Sowerby, the rating represented “compelling evidence the Western Asset Australian investment team remains ahead of the curve with this fund”.
“Anthony and the team have consistently delivered on their objectives and this, allied to the strength of the team and the robust investment process, is why the fund has achieved a ‘highly recommended’ rating for five consecutive years,” he said.
AUTHOR
Oksana Patron
Recommended for you
The alternative investment manager has signalled its intentions to repackage an existing fund into a second private equity vehicle, targeting both listed and unlisted opportunities.
The acquisition of Mason Stevens by Adamantem Capital has reached completion, as the wealth platform looks to increase investment into its services for Australian wealth practices.
Platinum Asset Management and VanEck have both announced name changes to multiple of their ETFs to clarify their complexity.
Active ETFs are gaining traction in Asia-Pacific as wealth managers seek to blend the low-cost fees of passive with active management.
