Legg Mason and its US-based fixed income subsidiary Brandywine Global have together launched a new product for the Australian retail market, billing it as a “global bond fund for all seasons”.
Speaking at the fund’s launch in Sydney yesterday, Gary Herbert, Brandywine Global’s Philadelphia-based head of global credit said the new fund will appeal to both advised and self-directed investors, including SMSF trustees, and will invest across a number of countries and debt sectors.
The fund reflects “ongoing demand for attractive returns with minimal risk to capital in a world of increasing uncertainty,” Mr Herbert said.
“We originally launched this strategy offshore back in 2013 and since then we have delivered attractive risk adjusted returns leading it to be extremely well received by investors in other markets,” he said.
“Having discussed this with potential investors in Australia, we believe that, given the ongoing uncertainty in fixed income markets, now is an ideal time to launch as we can offer a global solution designed for all seasons.
“The fund should have strong appeal for self-directed and advised individual investors including the SMSF market, as it offers predictable returns in all conditions and diversification away from the local staples of the ASX-listed equities and term deposits.”
Andy Sowerby, head of Legg Mason Australia, told the same event that the fund will now be put forward for rating by the research houses and then intends to apply to have the fund accepted by platforms and dealer group approved product lists.
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