Australia
A nimble, all-weather, global fixed income strategy that seeks attractive income generation and total return while guarding against downside risks.
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- Franklin Templeton Investments Australia Limited (FTIAust) (ABN 87 006 972 247) is the responsible entity for the Australian registered schemes referred to in this website. Franklin Templeton Investments Australia Limited has operated in Australia since 1988, has offices in Melbourne and Sydney and is the holder an Australian Financial Services ("AFS") Licence, number 225328, issued by the Australian Securities and Investments Commission.
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Legg Mason Brandywine
Global Income Optimiser Fund
Navigate the global fixed-income markets with Brandywine Global’s Income Optimiser Fund. Designed to source global income while protecting capital.
Legg Mason Brandywine Global Income Optimiser Fund
Dual Approach
A combination of top-down macroeconomic research and bottom-up fundamental analysis creates a holistic view of global fixed-income opportunities.
Dynamic Rotation
Active rotation across the global fixed-income universe provides diversified sources of alpha.
Defensive
Active risk management aims to protect capital and navigate market volatility.
Learn More About the Fund
Philosophy & Process
The strategy seeks to balance income with the pursuit of total return based on the prevailing market environment. It leverages Brandywine Global’s fundamental research and top-down macroeconomic analysis.
Broad Opportunity Set
Geographic, quality and sector flexibility enables responsiveness and adaptability across market environments.
Diverse Drivers of Return
Multiple alpha sources include: local currency, sovereign debt, global investment grade and high yield credit, duration management and structured credit.
Active Approach
Relative value approach is independent of sector allocations within the benchmark and instead reflects tactical changes in response to fundamental and macro outlook.
Meet the Team
Brandywine Global’s Fixed Income team shares expertise across the global fixed income universe, including macro conditions, sovereign bonds, currencies, corporate bonds, and structured credit. We incorporate cross-sector analysis and research, enabling managers to consider all risks and opportunities in our multi sector positions and portfolios.
Tracy Chen, CFA, CAIA
Portfolio Manager,
Tenure - 2008
Brian Kloss, JD, CPA
Portfolio Manager,
Tenure - 2009
Jack P. McIntyre, CFA
Portfolio Manager
Tenure - 1998
Anujeet Sareen, CFA
Portfolio Manager
Tenure - 2016
Holistic Risk Management
The Fund takes a holistic approach to risk management, utilising the strategy’s flexibility to limit credit risk, interest rate risk, and currency risk.
Credit Risk
The managers seek to position the portfolio with the appropriate credit-quality bias while monitoring positive or negative political and economic developments. They vigilantly monitor the credit/default risk in the portfolio, both for individual credits and of sovereign bonds. Credit risk is managed through the use of derivatives, such as credit default swaps, interest-rate futures, and currency forwards during periods of volatility.
Interest Rate Risk
The managers take an active approach to managing interest rate risk and volatility by adjusting the interest rate exposure of the strategy based on the prevailing macro outlook and market conditions. The manager has made active use of the 0-10 year portfolio duration range.
Currency Risk
Currency is predominantly hedged to limit foreign currency exposure and help control volatility. The team also uses currency forwards and short-duration exposure to hedge systemic macro risk.
Internal Risk Reviews
The team reviews daily reports that monitor attribution, value-at-risk, and tracking error which are also leveraged for internal risk oversight and compliance reporting.
Commitment to ESG
Brandywine Global believes that relevant and material ESG factors can affect investment performance. They are thus essential in crafting a complete picture of the risks and opportunities as part of the investment process.
Environmental Factors
Unsustainable or controversial environmental policies risk financial penalties, compromised reputation, competitive disadvantage, and negative growth outcomes.
Social Factors
Poor labor practices or human rights violations place companies and countries at risk of unrest or upheaval, impairing economic progress.
Governance Factors
Insufficient governance creates an environment that can ignore investor rights and interests while enabling fraud or corruption, limiting prospective returns and exacerbating risks.
Related Insights
Important Legal information
Past performance is not necessarily indicative of future performance and may not necessarily be repeated. Returns are volatile and may go up and down significantly. Historical performance is not a reliable guide to future performance.Past performance is not a reliable indicator of future performance. Legg Mason Asset Management Australia Limited (ABN 76 004 835 849 AFSL 240827) is part of Franklin Resources, Inc. Any reference to ‘Legg Mason Australia’ is a reference to Legg Mason Asset Management Australia Limited. Legg Mason Australia is the responsible entity of the Legg Mason Brandywine Global Income Optimiser Fund (ARSN 618 213 488) (Fund). Before making an investment decision you should read the Product Disclosure Statement (PDS) carefully and you need to consider, with or without the assistance of a financial advisor, whether such an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. The PDS is available and can be obtained by contacting Legg Mason Australia on 1800 673 776 or at www.franklintempleton.com.au.
This website is intended for Australian investors only. Information on this website may not be suitable for all investors and clients. By using this website you agree to and acknowledge the Terms of Use. Click here to view Terms of Use and Important Legal Information.
Investments entail risks, the value of investments can go down as well as up and investors should be aware they might not get back the full value invested.
This material is intended to be of general interest only and should not be construed as individual investment advice or a recommendation or solicitation to buy, sell or hold any security or to adopt any investment strategy. In providing the information on this website, we have not taken the individual circumstances, investment objectives or financial situation of any investor into account. You should conduct your own investigation or consult a financial adviser before making any decision to invest and to help determine if the information provided is suitable for your particular circumstances. All investments involve risks, including possible loss of principal. Please refer to the relevant Product Disclosure Statement available on this website before making any investment decision.
