Financial Services Industry
Industry: Email Alert RSS FeedLegg Mason to launch a multi-strategy bond fund.
Investment Adviser, March, 2008
Legg Mason is poised to launch a multi-strategy bond fund, investing in a range of global fixed income assets.
The fund will be launched in the second quarter of 2008, and will be managed by Ian Edmonds and Mike Zelouf at fixed income specialist Western Asset, a US-based Legg Mason affiliate.
The duo have managed a AGBP207.7m Dublin-domiciled version of the fund since 2002, called the Legg Mason WA Global Multi Strategy fund.
The offshore fund has delivered a 9.73 per cent return over three years to 25 February, outperforming the Morningstar GIF Fixed Income Global USD Based index, which returned 7.5 per cent over the same period. The fund is ranked 33rd out of 120 vehicles in the sector, according to Morningstar.
The new fund,...
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