Legg Mason Permal Global Absolute Fund

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About The Fund

Investment Aim

The Fund’s investment objective is to generate absolute returns over the medium term through a macro style investment process.

Performance Benchmark

N/A

Comparative Index

USD Overnight LIBOR

Daily liquidity, multi-asset UCITS fund with an absolute return and low volatility objective.
Managed with a global macro approach, expressed through traditional investment instruments such as ETFs.
Combines the quantitative analysis of macro hedge fund return drivers with the fundamental top down views of the Permal Investment team

About the Investment Strategy

Quantitative Inputs: proprietary, multiple-factor quantitative analysis of the key systematic risk and return factors focusing on asset classes, regions and strategies to determine the key drivers of beta
Qualitative Views: The Investment Committee meets weekly to discuss the macro environment and uses its experience and perspective on global markets to provide forward-looking, top-down macroeconomic views. The team also draws on the broad perspectives of their worldwide network of hedge fund managers, which adds unique 'on-the-ground' insights into global markets.
Portfolio Management: Permal's portfolio managers use the factor model framework created from the quantitative analysis and combine it with the top-down macro views of the Investment Committee to create an asset allocation blueprint. They then work with Legg Mason Global Asset Allocation (LMGAA) to implement the portfolio using the investment universe available to them. LMGAA also perform compliance and risk management functions.

About the Investment Team

Permal has over 35 years of experience in alternative asset management. The company has a stable and experienced management team, and offers a global presence with offices in New York, London, Singapore, Dubai, Paris, Boston, Hong Kong, Tokyo and Nassau.

General Fund Literature

Fact Sheet
Extract Prospectus
Annual Report
Semi-Annual Report



		INVESTMENT INVOLVES RISKS. Past performance is not indicative of future results.

		The Fund may be subject to the risk of substantial capital loss arising from investment in one or more of the following, (a)Emerging market securities; (b) Below investment grade securities; (c) Mortgage-backed securities, asset-backed securities and/or structured notes; which may give rise to higher liquidity, credit, counterparty and market risks.

		The Fund may invest in financial derivative instruments or take short positions through the use of financial derivatives instruments. The Fund may be leveraged to up to 100 per cent of its Net Asset Value as a result of its use of derivative instruments. This may magnify or otherwise increase investment losses to the Fund, creating conceptually the risk of unlimited loss. Due to the investment policies of the Fund, this Fund may have particularly volatile performance.

		Investors should read and understand the Fund’s most current offering document, including details of risk factors relevant to the Fund, before making an investment in the Fund.

		An investment in the Fund may not be suitable for all investors. The investment decision is yours but you should not invest in the Fund unless the intermediary who sells it to you has advised you that it is suitable for you and has explained why, including how buying it would be consistent with your investment objectives.