Western Asset Asian Opportunities Portfolio plans its launch

By Toni Weeks

San Diego, Jan. 26 - Western Asset Funds, Inc., formerly LM Institutional Fund Advisors I, Inc., announced its plans to launch a new fund, the Western Asset Asian Opportunities Portfolio.

According to an N-1A filing with the Securities and Exchange Commission, the fund seeks to maximize total return through income and capital appreciation.

Under normal circumstances, the fund will invest at least 80% of its net assets in securities issued by Asian issuers and in derivatives based on financial instruments and interest rates of Asian issuers. The fund will typically invest at least 70% of its net assets in debt and fixed-income securities and in derivatives on Asian interest rates and currencies.

Stephen Walsh, Kazuto Doi, Julia Ho, Keith Gardner and Chia-Lang will be the portfolio managers.

The fund will launch with three share classes: class IS, class I and class FI. None of these will incur shareholder fees.

Management fees will run 0.6% for all three classes. Including other expenses and taking into account a fee waiver and/or reimbursement agreement with the adviser, the total annual fund operating expenses are expected to be 0.8%, 0.9% and 1.25% for the class IS, class I and class FI shares, respectively.

The fund's investment manager will be New York-based Legg Mason Partners Fund Advisor, LLC.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.