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Western Asset High Yield Portfolio


Available Share Classes

The Fund offers three classes of shares for institutional investors. A summary of the classes is provided below. Investors should consult the prospectus for additional information.

  Institutional Class Financial Intermediary Class Institutional Select Class
Minimum Initial Investment $1 million $1 million $1 million
Exchange Privilege Shareholders may exchange among all Institutional Classes of shares within the Western Asset Funds. Shareholders may exchange among all Financial Intermediary Classes of shares within the Western Asset Funds. Shareholders may exchange among all Institutional Select Classes of shares within the Western Asset Funds.
Inception Date 9/28/01 Not yet commenced operations. 8/4/08
FIXED INCOME
> Western Asset Absolute Return Portfolio
> Western Asset Core Bond Portfolio
> Western Asset Core Plus Bond Portfolio
> Western Asset Emerging Markets Debt
> Western Asset Global High Yield
> Western Asset High Yield Portfolio
> Western Asset Inflation Indexed Plus Bond Portfolio
> Western Asset Intermediate Bond Portfolio
> Western Asset Intermediate Plus Bond Portfolio
> Western Asset Limited Duration Bond Portfolio
> Western Asset Non-U.S. Opportunity Bond Portfolio
EQUITY
> Batterymarch U.S. Small Cap Equity Portfolio
> Legg Mason American Leading Companies Trust
> Legg Mason Emerging Markets Trust
> Legg Mason Growth Trust
> Legg Mason International Equity Trust
> Legg Mason Opportunity Trust
> Legg Mason Special Investment Trust
> Legg Mason Value Trust
> Legg Mason Partners Funds
> The Royce Funds



Investors should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about the Fund. To obtain a free prospectus, click here or call 1-888-425-6432. Please read the prospectus carefully before investing.

All investments involve risk, including possible loss of principal.

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