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
A growing trend of factor investing in ETFs has seen the rise of smart beta or factor ETFs, but Stockspot has warned that these funds likely won’t deliver as expected and could cost investors more long-term.
ASIC has released a new regulatory guide for exchange-traded products (ETPs), including ETFs, on the back of significant growth in the market.
Assets in Macquarie Asset Management’s active ETFs have tripled to $2 billion in the last six months, helping the division deliver a net profit contribution of $1.1 billion.
With property becoming increasingly out of reach for young Australia, Vanguard has proposed a tax-incentivised scheme to help cash-heavy individuals build wealth.
