Fund Rationale: Legg Mason Western Asset Global Bond Trust

Legg Mason Western Asset Global Bond Trust (the “Trust”)
SGD Retail Class A Accumulation Shares (ISIN: SG9999005193)
Fund Manager Page
Daily Price & Charts

Endowus has selected the Legg Mason Western Asset Global Bond Trust for its diversified portfolio of high-quality government debt, and its ability to generate enhanced yet stable and low-risk returns.

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Key Information

Fund Objective: Aims to maximise total returns in Singapore Dollar terms over the longer term by investing in a portfolio of high quality debt securities of Singapore and major global bond markets such as the G10 countries and Australia and New Zealand.

Suitability: Investors who are seeking to maximise long-term total return, have a long-term investment horizon, and understand that the principal of the Fund will be at risk.

Cost:
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  1. Total Fund-level Fees include fund management fee of 0.75%.
  2. This is a retail share class with 100% trailer fee rebated back to Endowus investors to lower the cost of access.
  3. Endowus do not charge a preliminary sales charge or any other additional fees, other than the all-in Endowus Access Fee.

Fund Characteristics

Fund Inception: 2 November 1998
Share Class Inception: 2 November 1998
Benchmark: FTSE World Government Bond Index ex-Japan

Fund AUM: SGD 331m
Source: MorningStar as of 31 May 2021. Please refer to the FMC page for the most updated AUM.

Regional Allocation:
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Sector Allocation:
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Source: MorningStar as of 31 May 2021. Allocation data indicate actual exposure as a percentage of the Fund's total Net Asset Value. Please refer to the Fund Manager Page for the most updated information on Fund Holdings and Breakdown.

Selection Criteria

Endowus has selected the Legg Mason Western Asset Global Bond Trust for its diversified portfolio of high-quality government debt, and its ability to generate enhanced yet stable and low-risk returns.

The Strategy is strictly mandated by its investable universe of government and sovereign bonds, and the investment team, to maximise returns within the universe and to achieve its investment objective of FTSE World Government Bond Index ex-Japan Index, employs a rigorous top-down process to identify multiple sources of returns, tapping on interest rate duration, yield curve, sector and country allocation, individual security selection, and currency plays to dynamically extract alpha in different market environments. The resulting portfolio consists of high-quality government bonds from around the world, including both Developed and Emerging Markets.

The investment process is managed by Legg Mason Global Asset Management, an affiliate of Franklin Templeton, whose key strength lies in fixed income -- we like the fact that the Fund is overseen by the Global Investment Strategy Committee with an average investment experience of more than 25 years, and a 131-member investment team that has been stable over the years.

Additionally, the Fund has one of the longest track records among the global bond funds included in the CPF Investment Scheme, giving CPF Investors in Singapore the opportunity to further diversify their fixed income exposure to include global, high-quality government debt.

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Updated by Endowus: July 2021

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