Legg Mason Global Asset Management is set to launch a global credit fund for one of its affiliates, subject to the fund’s registration in the UK.
The Legg Mason Brandywine Global Credit Opportunities fund will be managed by Brandywine’s global credit team.
It is a Dublin-domiciled version of Brandywine’s US Global Alternative Credit fund.
The new fund will seek to invest in multi-currency global investment-grade and high-yield bonds, leveraged loans, emerging market debt and structured credit opportunities.
The minimum investment for the fund is £1,000 with an initial off-platform charge of 5 per cent and an AMC of 1.65 per cent.
Three Counties IFA Andrew Alexander says: “It is very important for fixed income managers to give themselves the tools to navigate the current market conditions, especially with the issue of rate rises on the horizon.
“The ability to use different tools and currencies in the market is valuable. But it is also important to have the track record and history, and Brandywine has this.
“I like the approach by Legg Mason in utilising specialists when it comes to the market.”