• INVESTMENT INVOLVES RISKS. The value of the Fund can be volatile and investors may not get back the amount originally invested. Past performance is not indicative of future results.
  • Investors will be exposed to debt securities (including risks of Government securities, rated and unrated securities), interest rate, credit, liquidity, concentration,and currency risks.
  • The Fund may invest in inflation protected securities, whose value generally fluctuates in response to changes to interest rates.
  • The Fund may use certain types of financial derivative instruments ("FDIs") extensively for investment and other non-hedging purposes, which may involve a higher degree of risk such as counterparty, volatility, liquidity, leverage and valuation risks. The Fund may suffer a total or significant loss arising from the extensive use of FDIs.
  • The Fund may invest in emerging markets which involve special risks, including liquidity, volatility, currency, political, economic, legal and regulatory risks.
  • The directors of Legg Mason Global Funds Plc may at their discretion pay dividends out of capital of a Distributing Plus Share Class. The payment of dividends out of capital effectively amounts to a return or withdrawal of an investor´s original capital investment or of capital gains attributable to that original investment. Such distribution will result in a corresponding immediate decrease in the Net Asset Value per share of these Share Classes.
  • Investors should not invest based on this marketing material alone. Offering documents should be read for further details, including the risk factors.


Legg Mason Brandywine Global Fixed Income Fund

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About The Fund

Investment Aim

The Fund is a sub-fund of Legg Mason Global Funds plc, an open-ended umbrella investment company constituted in Ireland. The Fund seeks to maximise total return through capital appreciation and income by investing at least two-thirds of its Net Asset Value in investment grade debt securities denominated in the currencies of, or issuers located primarily in, developed countries around the world. The Sub-Investment Manager will concentrate investments in undervalued markets that provide the best opportunity for declining interest rates and a return to lower real rates over time.

Performance Benchmark

FTSE World Government Bond Index
  • Invests primarily in high yielding global government bonds.
  • Highly experienced investment team.

About the Investment Strategy

  • The investment strategy reflects the manager's conviction that countries with high real interest rates and stable or appreciating currencies are the best indicators of value across global fixed income markets.
  • The manager therefore seeks bonds with the highest real yields, with risk controlled by purchasing undervalued securities and managing currency to protect and increase returns.
  • Investments are typically concentrated in a focused number countries that appear to offer the best total return potential.
  • Significant investments are made in targeted positions and benchmark hugging is avoided.

About the Investment Team

Brandywine Global Investment Management has been managing fixed income since 1992 and its fixed income team brings together decades of experience in the asset class.