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
1.7%
1 Year rank in sector
197/294
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.
1.92%
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.
84
Top in this sector
Fund name1 Year
Capital Group GHIOL35.6%
Dodge & Cox Global Bond26.5%
SKAGEN Tellus24.9%
Morg Stnly Gbl Mrtg Securts24.4%
HSBC GIF Gbl AsBk Bd24.3%
...more in FO Fixed Int - Global

Performance snapshot

Holdings snapshot

  • USA68.2%
    UK9.1%
    Netherlands6.6%
    Money Market4.4%
    Jamaica2.2%
  • Asset/Mortgage-Backed Securities41.7%
    Government Bonds25.4%
    Corporate Bonds16.5%
    Banks11.6%
    Money Market4.4%
  • US Fixed Interest68.2%
    UK Fixed Interest9.1%
    Dutch Fixed Interest6.6%
    American Emerging Fixed Interest5%
    Money Market4.4%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.5%-0.7%2.9%1.7%--
Sector-1.7%-2.3%0.6%3.4%6%13.5%
Rank within sector79 / 31481 / 31159 / 306197 / 294--
Quartile2nd2nd1st3rd
Calendar performance
 YTD - 20162015201420132012
Fund1.9%-5%---
Sector4%-1.6%3.7%-1.6%8.2%
Rank within sector206 / 298231 / 274---
Quartile3rd4th
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 high99.43
52 week low91.84
Current bid price-
Current offer price-
Current mid price98.19
Region
1USA68.15%
2UK9.11%
3Netherlands6.63%
4Money Market4.4%
5Jamaica2.16%
6Indonesia2.15%
7Brazil2.1%
8Spain2%
9Argentina1.74%
Industry sector
1Asset/Mortgage-Backed Securities41.73%
2Government Bonds25.44%
3Corporate Bonds16.49%
4Banks11.64%
5Money Market4.4%
6Foreign Exchange0.43%
7Derivatives-0.12%
Asset type
1US Fixed Interest68.15%
2UK Fixed Interest9.11%
3Dutch Fixed Interest6.63%
4American Emerging Fixed Interest5.03%
5Money Market4.4%
6Indonesian Fixed Interest2.15%
7Brazilian Fixed Interest2.1%
8Spanish Fixed Interest2%
9Global Fixed Interest0.43%
Individual holdings
1UNITED STATES OF AMER TREAS BILLS 0% TB 06/10/16 USD1006.93%
2UNITED STATES OF AMER TREAS BILLS 0% BDS 20/10/16 USD1005.04%
3FREMF MORTGAGE TRUST VAR MTG BDS 25/02/26 USD1000 B4.28%
4LSTAR Securities Investment Trust 3.0380% Mat 07/01/20204.2%
5NEWGATE FUNDING FLTG RATE NTS 01/12/50 EUR`06-2``CB`3.51%
6INDONESIA(REPUBLIC OF) 6.625% BDS 17/02/37 USD1000002.98%
7OPTION ONE MORTGAGE LOAN MTG BDS 25/11/35 USD250002.61%
8FREMF MORTGAGE TRUST VAR MTG BDS 25/01/48 USD10000 144A2.6%
9RMAC 2006-NS4 FRN M/BKD 12/06/44 EUR10000 `B1C` `REGS`2.51%
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)1.92%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price98.19
CurrencyUSD
Price updated07/12/2016
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)1.95%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price101.1
CurrencyEUR
Price updated27/10/2016
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)1.26%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price98.22
CurrencyUSD
Price updated07/12/2016
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)1.27%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price99.76
CurrencyUSD
Price updated07/12/2016
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)1.27%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price97.42
CurrencyGBP
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeM2MC
Legg Mason Brandywine Global Credit Opportunities Premier Hedged M Dis GBP
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 price95.36
CurrencyGBP
Price updated09/11/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeMH9D
Data provided by

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