Legg Mason launches global total return bond fund

Fund launched for subsidiary Western Asset

Legg Mason Global Asset Management is launching a global total return bond fund for Gordon Brown, co-head of global portfolios at its subsidiary Western Asset.

The new fixed income product will be a Dublin-domiciled UCITS fund co-managed by Brown and Andrew Cormack.  The Legg Mason Western Asset Global Total Return Investment Grade Bond fund will seek to generate positive returns by identifying relative value opportunities across global investment grade debt markets and currencies. The opportunistic bond fund invests without the constraint of a benchmark, using a combination of top-down global macro strategies, tactical sector allocation, and bottom-up security selection. The fund is targeting a positive return over the long-term regar...