Lonsec upgrades Legg Mason Western Asset bond fund
Research house Lonsec has upgraded its rating for the Legg Mason Western Asset Macro Opportunities Bond fund to ‘recommended’ and has reclassified the fund within Lonsec’s growth alternative sector.
The decision reflected the economic leverage that had been employed, the research house said.
Th fund’s absolute return fixed income strategy, which was available offshore for many years and was launched in Australia two years ago, was recognised by Lonsec for its ability to generate risk-adjusted returns in line with its relevant objectives.
The strategy is led by Western Asset’s chief investment officer, Kenneth Leech and offers access to Western Asset’s expertise and infrastructure which as of 31 March had $A561 billion in assets under management.
Legg Mason’s managing director, Australia and New Zealand, Andy Sowerby said: “The Legg Mason Western Asset Macro Opportunities Fund’s objective appeals to investors seeking a high conviction unconstrained proposition that can help diversify risk and deliver attractive returns over time.”
AUTHOR
Oksana Patron
Recommended for you
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
