Western Asset liquid alternatives strategy captivates Aussie investors


Andy Sowerby

Following its global success, the introduction of the Legg Mason Western Asset Macro Opportunities Bond Fund in Australia sees this Fund pass its first anniversary in style.

Managed by one of the world leaders in global fixed income investing and led by the CIO of Western Asset, Ken Leech, this fund is an absolute return strategy designed to offer attractive positive returns regardless of market direction.

The local fund is replica of the hugely successful Dublin domiciled UCITS fund which has raised over US$6.3bn since inception and delivered an annualised return of 10.7% p.a.1 before fees with an ex-post volatility of 6.1 per cent.

Since launch, the local fund offering has fully reflected these outstanding returns with a return of 11.3%2 net of fees in the first year and attracted over AUD$30m of commitment.

Andy Sowerby, Managing Director Legg Mason Australia and New Zealand, said: “We are very satisfied with our first year of delivering the Western Asset Macro Opportunities strategy in Australia, especially as we have delivered such compelling returns for our clients.

“In an increasingly uncertain environment the need for differentiated investment funds that can deliver strong returns that are truly uncorrelated to traditional asset classes will only grow in importance. The Legg Mason Western Asset Macro Opportunities Bond has a proven track record in this regard and is therefore commanding much interest across the market.

Sowerby concluded: “In terms of the market outlook we believe that the interconnectedness of global markets and the increased importance of central bank policy will continue to fuel dislocations that create opportunities for this strategy to exploit and capitalise upon.”

The fund has already been awarded a ‘Recommended’ rating from Zenith Partners, a leading independent research firm*.

  1. Performance data as at 31 July 2017
  2. Performance data as at 31 August 2017


The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (Legg Mason Western Asset Macro Opportunities Bond Fund assigned March 2017) referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith™ methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners.com.au/RegulatoryGuidelines.

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