Western Asset Non-U.S. Opportunity Bond Portfolio
Investment Objective:
To maximize total return, consistent with prudent investment management.
Investments:
Under normal market conditions, the Fund invests at least 80% of its net assets in debt and fixed income securities denominated in major foreign currencies. To achieve its objective, the Fund may invest in a variety of securities, including U.S. dollar-denominated or foreign currency-denominated obligations of foreign governments, international agencies or supranational entities; foreign currency exchange-related securities, including foreign currency warrants; U.S. Government obligations; mortgage- and other asset-backed securities; corporate obligations; commercial paper and other short-term investments.
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| Inception Date: |
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| Institutional: | July 15, 1998 |
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| Performance Benchmark: |
Citigroup World Government ex-U.S. Index (Hedged)
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| Total Fund Assets: |
$88.6 million (as of 6/30/09)
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| Ticker Symbol: |
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| Institutional: | WAFIX |
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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. 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.
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