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Western Asset Intermediate Plus Bond Portfolio


Western Asset Management Company
Western Asset's objective is to provide clients with diversified, value-oriented portfolios that are tightly controlled and managed for the long term. Western Asset believes inefficiencies exist in the fixed-income markets. By combining traditional analysis with innovative technology, the Firm attempts to add value by exploiting these inefficiencies across all eligible sectors.

Western Asset emphasizes the worth of active management by using multiple strategies, including active sector and issue selection, in an attempt to enhance value while preventing any one strategy's under performance from seriously impacting returns. Western Asset augments these strategies by engaging in opportunistic trading to exploit market inefficiencies over the course of an economic cycle. The Firm's philosophy centers upon a team approach. At Western Asset, fixed-income portfolios are managed by uniting groups of specialists dedicated to different market sectors. While the investment responsibilities of each group are distinct, successful implementation involves a fluid and inseparable interaction between them. This structure ensures that client portfolios benefit from a consensus shaped by the expertise of all the team members.

While good performance is important, Western Asset also feels that the management of risk is a crucial part of the investment process. To this end, Western practices a wide variety of methods to reduce it, aiming to approximate a benchmark's risk at the same time it attempts to exceed its returns. In addition, Western Asset employs a dedicated risk management team whose sole purpose is to ensure investment risk is monitored and controlled at all times.



FIXED INCOME
> Western Asset Absolute Return Portfolio
> Western Asset Core Bond Portfolio
> Western Asset Core Plus Bond Portfolio
> Western Asset Emerging Markets Debt Portfolio
> Western Asset Global High Yield Portfolio
> Western Asset High Yield Portfolio
> Western Asset Inflation Indexed Plus Bond Portfolio
> Western Asset Intermediate Bond Portfolio
> Western Asset Intermediate Plus Bond Portfolio
> Western Asset Limited Duration Bond Portfolio
> Western Asset Non-U.S. Opportunity Bond Portfolio
EQUITY
> Batterymarch U.S. Small Cap Equity Portfolio
> Legg Mason American Leading Companies Trust
> Legg Mason Emerging Markets Trust
> Legg Mason Growth Trust
> Legg Mason International Equity Trust
> Legg Mason Opportunity Trust
> Legg Mason Special Investment Trust
> Legg Mason Value Trust
> Legg Mason Partners Funds
> The Royce Funds




All investments involve risk, including possible loss of principal.

Legg Mason Investor Services, LLC; Batterymarch Financial Management, Inc.; Brandywine Global Investment Management, LLC; ClearBridge Advisors, LLC; Esemplia Emerging Markets; Global Currents Investment Management, LLC; Legg Mason Capital Management, Inc.; Royce & Associates, LLC and Western Asset Management Co. are subsidiaries of Legg Mason, Inc.

Investors should consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about a fund. To obtain a free prospectus, please view the product specific page and click on the prospectus link. An investor should read the prospectus carefully before investing.

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