S&P upgrades Brandywine Global Fixed Income Fund to AA

Legg Mason’s Brandywine Global Fixed Income Fund has been upgraded from an A to an AA credit rating by Standard & Poor’s.

Since its launch in September 2003 the fund, which has $24.2bn of fixed income assets under management, has returned 6.12% average annual returns, and 65.67% on a cumulative basis against a benchmark of 62.74% and peer group return of 57.18%.

S&P said: “Performance has been strong and the team has comfortably outperformed peers and the benchmark. The fund outperformed its benchmark by 306bps gross in 2011, with duration, currency and sector allocation all contributing. The fund is top quartile over three and five years, on a cumulative basis.

Adam Gent, head of UK sales at Legg Mason, said: “The S&P rating reflects the fund’s consistent outperformance since its launch in 2003 having outperformed its benchmark over 3 months, 1, 3, and 5 year period as well as since launch.”

“The management team is one of the most experienced in the market and we believe this, coupled with the team’s continued long-term investment approach, will enable the fund to continue delivering solid returns to our investors in the future.”


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