Fact sheet: LM BwGblCrOpp

Fund information
Fund name
Legg Mason Brandywine Global Credit Opportunities A Acc USD
Fund manager company
Legg Mason Global Funds Plc
Fund type
OEIC
Fund manager
  • Brandywine Global Investment Managementsince 29/06/2014
Fund objective
The Fund seeks to maximise total return through a high level of income and capital appreciation, by taking a flexible investment approach in global bond markets across the credit spectrum, including emerging market countries that the manager finds most attractive, through both long exposure and short exposure (via derivatives). This may result in the fund being highly concentrated in one, or a small number of, countries, sectors or asset classes. Such asset classes may include, but are not limited to, mortgage-backed securities.
Benchmark
  • LIBOR USD 3 month
Investment style
Strategic Investment
Investment method
Fixed Interest
Quick stats
1 Year return
9.7%
1 Year rank in sector
32/302
Sector
FO Fixed Int - Global
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.94%
Fund size
£109m (£109m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
85
Top in this sector
Fund name1 Year
Twelve Falcon Ins Lkd Strat219.7%
LM WAHiYcrEn34.7%
Capital Group GHIOL32.2%
Dodge & Cox Global Bond24.4%
HSBC GIF Gbl AsBk Bd21.3%
...more in FO Fixed Int - Global

Performance snapshot

Holdings snapshot

  • USA69.3%
    UK12.9%
    Brazil7%
    Argentina3.5%
    Money Market2.9%
  • Asset/Mortgage-Backed Securities47.5%
    Corporate Bonds19.6%
    Government Bonds18.5%
    Banks11.1%
    Money Market2.9%
  • US Fixed Interest69.3%
    UK Fixed Interest12.9%
    Brazilian Fixed Interest7%
    American Emerging Fixed Interest6%
    Money Market2.9%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.4%3.6%4.1%9.7%--
Sector0.2%1.4%-0.3%3.7%6.2%11.5%
Rank within sector106 / 32821 / 32225 / 31132 / 302--
Quartile2nd1st1st1st
Calendar performance
 YTD - 20172016201520142013
Fund3.3%3.4%-5%--
Sector1%4.6%-1.6%3.7%-1.6%
Rank within sector19 / 322150 / 295225 / 268--
Quartile1st3rd4th
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
-
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
-
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
-
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
-
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
-
Price movement
52 week high102.85
52 week low93.22
Current bid price-
Current offer price-
Current mid price102.62
Region
1USA69.29%
2UK12.9%
3Brazil7.04%
4Argentina3.47%
5Money Market2.94%
6Jamaica2.57%
7Mexico1.01%
8Spain0.73%
9Not Specified0.03%
Industry sector
1Asset/Mortgage-Backed Securities47.54%
2Corporate Bonds19.62%
3Government Bonds18.48%
4Banks11.1%
5Money Market2.94%
6Derivatives0.28%
7Foreign Exchange0.03%
8Futures0.02%
Asset type
1US Fixed Interest69.29%
2UK Fixed Interest12.9%
3Brazilian Fixed Interest7.04%
4American Emerging Fixed Interest6.04%
5Money Market2.94%
6Mexican Fixed Interest1.01%
7Spanish Fixed Interest0.73%
8Global Fixed Interest0.03%
9French Fixed Interest0.02%
Individual holdings
1FEDERAL HOME LN MTG CP MTCL PT CTFS UNDATED BDS USD1000 K042 X14.64%
2NEWGATE FUNDING FLTG RATE NTS 01/12/50 EUR`06-2``CB`4.11%
3PETROBRAS GLOBAL FINANCE BV 8.75% BDS 23/05/26 USD20003.62%
4OPTION ONE MORTGAGE LOAN MTG BDS 25/11/35 USD250003.2%
5FREDDIE MAC STRUC AGY CDT RSK DB NT NTS 25/07/28 USD 2016 DNA1 M33.06%
6RMAC 2006-NS4 FRN M/BKD 12/06/44 EUR10000 `B1C` `REGS`2.9%
7CHESAPEAKE ENERGY CORP 8% SNR SEC NTS 15/12/22 USD2000 144A2.67%
8FEDERAL HOME LOAN MORTGAGE CORP STACR NTS 25/10/28 USD M-3 2016-DNA22.6%
9HEXION US FIN CORP/HEXION NOVA SCOT 6.625% BDS 15/04/20 USD10002.47%
Management
Fund manager group
Legg Mason
Fund manager company
Legg Mason Global Funds Plc
Fund type
OEIC
Fund objective
The Fund seeks to maximise total return through a high level of income and capital appreciation, by taking a flexible investment approach in global bond markets across the credit spectrum, including emerging market countries that the manager finds most attractive, through both long exposure and short exposure (via derivatives). This may result in the fund being highly concentrated in one, or a small number of, countries, sectors or asset classes. Such asset classes may include, but are not limited to, mortgage-backed securities.
Benchmark
  • LIBOR USD 3 month
Investment style
Strategic Investment
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Brandywine Global Investment Management29/06/2014Brandywine Global Investment Management was established in 1986. Their global fixed income team focuses on “classic” value investing, bringing together three decades of experience. Their investment philosophy is driven from their research, which highlights countries with high real interest rates and stable or appreciating currencies as the best indicators of value.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Germany, Spain, Finland, France, United Kingdom, Ireland, Italy, Luxembourg, Netherlands, Norway, Offshore, Singapore, Sweden
Legg Mason Brandywine Global Credit Opportunities A Acc USD
Initial charge5%
Annual charge1.65%
Min single investment£1,000
Min regular saving£500
Available in ISANo
Ongoing charge (OCF)1.94%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price102.62
CurrencyUSD
Price updated22/03/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeKQSM
Legg Mason Brandywine Global Credit Opportunities A Hedged Acc EUR
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.9%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price100.55
CurrencyEUR
Price updated22/03/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMW3Q
Legg Mason Brandywine Global Credit Opportunities Premier A Dis USD
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.3%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price103.07
CurrencyUSD
Price updated17/03/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMH9C
Legg Mason Brandywine Global Credit Opportunities Premier Acc USD
Initial charge-
Annual charge1.15%
Min single investment£30,000,000
Min regular saving£5,000,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price104.45
CurrencyUSD
Price updated22/03/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKQTQ
Legg Mason Brandywine Global Credit Opportunities Premier Hedged Acc GBP
Initial charge-
Annual charge1.15%
Min single investment£15,000,000
Min regular saving£2,500,000
Available in ISANo
Ongoing charge (OCF)1.29%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price101.72
CurrencyGBP
Price updated22/03/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeM2MC
Data provided by

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