Western Asset Core Plus Bond Portfolio
Investment Objective:
To maximize total return, consistent with prudent investment management
and liquidity needs, by investing to obtain an average duration of generally
2.5 to 7 years.
Investments:
The Fund invests primarily in U.S. dollar-denominated fixed income securities and other debt instruments of domestic and foreign entities, including corporate bonds, securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities, mortgage-backed securities and money market instruments. The Fund may invest up to 20% of its total assets in non-U.S. dollar-denominated securities.
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| Inception Date: |
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| Institutional: | July 8, 1998 |
| Financial Intermediary: | January 8, 2002 |
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| Performance Benchmark: |
Lehman Brothers Aggregate Bond Index
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| Total Fund Assets: |
$14.1 billion (as of 3/31/08)
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| Ticker Symbol: |
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| Institutional: | WACPX |
| Financial Intermediary: | WACIX |
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Investment Risks:
Bonds are subject to a variety of risks, including interest rate, credit and inflation risk. As interest rates rise, bond prices fall, reducing the value of the Fund's share price. Non-U.S. investments are subject to currency fluctuations, social, economic and political risks.
To the extent that the Fund invests in asset-backed, mortgage-backed or mortgage-related securities, its exposure to pre-payment and extension risks may be greater than investments in other 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.
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