PASADENA, Calif., Jan. 22, 2015 /PRNewswire/ -- Ken Leech,
Chief Investment Officer of Western Asset, said that viewing
fixed-income markets through a global lens was the key to
understanding the puzzle in 2014 and will be equally important in
2015. Recently Ken Leech, Carl
Eichstaedt and Mark Lindbloom
were jointly named Morningstar's 2014 U.S. Fixed-Income Fund
Manager of the Year for the Western Asset Core Plus and Western
Asset Core Bond funds.
Experience the interactive Multimedia News Release here:
http://www.multivu.com/players/English/7425951-legg-mason-morningstar-western-asset/
Many investors had expected interest rates to rise in 2014 after
the U.S. Federal Reserve ended quantitative easing, and were
surprised when rates declined sharply in the first half of the
year, and moved lower late in the year. Mr. Leech noted that
while the U.S. Economy performed well, challenges in Europe, a slowdown in China and weakness in commodity pricing
brought a decline in interest rates around the world.
In a video entitled "The Global Economy 2015: Dramatic
Differences", Western Asset states its belief that the global
outlook in 2015 will be "a picture of dramatic differences" and
that it is watching the following trends:
- The inflation picture continues to suggest a muted backdrop,
which will support fixed-income yields, and may delay interest rate
hikes until later in 2015
- To address soft growth in Europe, policy will be very proactive, and the
ECB will need to initiate a quantitative easing program in which
they buy sovereign debt
- The slowdown in China,
continued weakness in Japan and
weak commodity prices will be a drag on emerging markets to varying
degrees
- In the U.S., the Fed will continue to look to end emergency
policies. They would like to start to end rates mid-2015, but wants
to be confident in their inflation forecast before they move.
To learn more about the investment implications of these
developments, visit
https://www.youtube.com/watch?v=GC7-vIXS1b4.
To learn more about the nominees, please view the press release:
http://corporate.morningstar.com/US/asp/subject.aspx?xmlfile=174.xml&filter=PR5305
About Western Asset
Western Asset Management is one of the world's leading
fixed-income managers with $466
billion in assets under management as of December 31, 2014. The firm is a wholly
owned, independently operated subsidiary of Legg Mason, Inc. (NYSE: LM) From offices
in Pasadena, Hong Kong, London, Melbourne, New
York, Sao Paulo,
Singapore, Tokyo and Dubai, the company provides investment
services for a wide variety of global clients, across an equally
wide variety of mandates.
About Legg Mason
Legg Mason, Inc. is a global
asset management firm with assets under management of $709.1 billion as of December 31, 2014. The Company provides active
asset management in many major investment centers throughout the
world. Legg Mason is headquartered
in Baltimore, MD and its common
stock is listed on the New York Stock Exchange (symbol: LM).
All investing involves risk. Past performance is no guarantee
of future results.
Western Asset Core Plus Fund:
Investments in fixed-income securities involve interest rate,
credit, inflation and reinvestment risks; and possible loss of
principal. An increase in interest rates will reduce the value of
fixed income securities. The Fund may use derivatives, such as
options and futures, which can be illiquid, may disproportionately
increase losses, and have a potentially large impact on Fund
performance. Leverage may increase volatility and possibility of
loss. International investments are subject to special risks
including currency fluctuations, social, economic and political
uncertainties, which could increase volatility. These risks are
magnified in emerging markets. Asset-backed, mortgage- backed or
mortgage-related securities are subject to prepayment and extension
risks. Risks of high-yield securities include greater price
volatility, illiquidity and possibility of default. Potential
active and frequent trading may result in higher transaction costs
and increased investor liability. Diversification does not assure a
profit or protect against market loss.
Western Asset Core Fund:
Fixed-income securities involve interest rate, credit, inflation,
and reinvestment risks; and possible loss of principal. As interest
rates rise, the value of fixed-income securities falls.
Derivatives, such as options and futures, can be illiquid, may
disproportionately increase losses, and have a potentially large
impact on fund performance. Investing in asset-backed,
mortgage-backed or mortgage-related securities subjects the Fund to
additional risks such as prepayment and extension risks. The Fund
may engage in active and frequent trading, resulting in higher
transaction costs and increased investor liability. Diversification
does not assure a profit or protect against market loss. Please see
the prospectus for a more complete discussion of the Fund's
risks.
The Morningstar awards acknowledge managers who not only
delivered impressive performance in 2014, but who have also shown
excellent long-term risk-adjusted returns, and have been good
stewards of fund shareholders' capital, as noted on the Morningstar
website.
Morningstar Awards 2014(c). Morningstar, Inc. All Rights
Reserved. Awarded to: Ken Leech, Carl Eichstaedt, and Mark
Lindbloom, Western Asset Core Bond (WACSX) and Western Asset Core
Plus Bond (WAPSX) for U.S. Fixed Income Fund Manager of the
Year.
Before investing, carefully consider a fund's investment
objectives, risks, charges and expenses. You can find this and
other information in the Fund's prospectus available at
www.leggmason.com/individualinvestors
© 2015 Legg Mason Investor Services, LLC, member FINRA, SIPC.
Western Asset Management, and Legg Mason Investor Services, LLC,
are subsidiaries of Legg Mason,
Inc.
INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE |
MAY LOSE VALUE
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SOURCE Legg Mason