Legg Mason has launched its first actively managed taxable fixed-income ETF, sub-advised by Western Asset Management Company, a Legg Mason affiliate and fixed-income manager.
The Western Asset Total Return ETF (WBND) seeks to maximise total return consistent with prudent investment management and liquidity needs.
“We are excited to launch the first fixed-income ETF in the Legg Mason line up,” says James W Hirschmann III, Chief Executive Officer of Western Asset Management. “Active managers can invest in a wider universe of securities than the benchmark, trade opportunistically as market conditions change, and provide risk and defensive management. This fund seeks to offer investors a core strategy with flexibility to take advantage of various taxable fixed-income maturities and sectors. With our 45-year history of delivering for investors in all market conditions, we believe this fund has potential to deliver attractive total returns.”
The portfolio managers of the Western Asset Total Return ETF are Kenneth Leech, Mark S Lindbloom, Julien A Scholnick, Frederick R Marki and John L. Bellows. The performance of the fund is benchmarked against the Bloomberg Barclays US Aggregate Index.