Western Asset Absolute Return Portfolio
Investment Objective:
To maximize long-term total return.
Investments:
The Fund has a flexible investment strategy and will invest in a variety of securities and instruments and use a variety of investment techniques in pursuing its objective.
The Fund invests primarily in U.S. government obligations, corporate obligations, mortgage- and other asset-backed securities, obligations of non-U.S. issuers, including obligations of non-U.S. governments, international agencies or supranational organizations, and debt obligations of corporate and governmental issuers in emerging market countries. The Fund may also enter into various derivative transactions for both hedging and non-hedging purposes, including for purposes of enhancing returns.
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| Inception Date: |
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| Institutional: | July 6, 2006 |
| Financial Intermediary: | September 6, 2006 |
| Institutional Select: | August 4, 2008 |
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| Performance Benchmark: |
The Portfolio is not measured against a benchmark.
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| Total Fund Assets: |
$285.2 million (as of 6/30/09)
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| Ticker Symbol: |
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| Institutional: | WAARX |
| Financial Intermediary: | WARIX |
| Institutional Select: | WAASX |
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Investment Risks:
Investments in bonds are subject to interest rate and credit risks. As interest rates rise, bond prices fall, reducing the value of the Fund's share price. Foreign securities are subject to certain risks of overseas investing, including currency fluctuations and changes in political and economic conditions, which could result in significant market fluctuations. High-yield bonds are rated below investment grade and involve greater credit and liquidity risk than higher-rated securities. Asset-backed, mortgage-backed or mortgage-related securities are exposed to prepayment and extension risks which may be greater than investments in other fixed income securities. Derivatives, such as options and futures, can be illiquid and may disproportionately have a potentially large impact on performance.
An investor cannot invest directly in an index. Click here for Index Definitions.
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