Legg Mason launches two new funds in Italy

Legg Mason Global Asset Management has launched Brandywine Global Fixed Income Absolute Return Fund and Brandywine Global Income Optimiser Fund to expand its offering to Italian investors.

The Brandywine Global Fixed Income Absolute Return Fund will be co-managed on a high conviction basis by David Hoffman and Stephen S.Smith; while the  Brandywine Global Income Optimiser Fund will be co-managed by Regina Borromeo, Gary Herbert and Brian Kloss.

Both funds will be available through the Dublin LMGF range.

The Global Fixed Income Absolute Return Fund will invest primarily in investment grade sovereigns, but will also be able to invest in corporate and  will actively manage currency exposure and duration.

The long-short approach will enable fund managers to take equal substantial positions in markets they believe to be overvalued as in markets they believe to be undervalued, as long as the market liquidity is supportive, Legg Mason said.

The strategy behind the Brandywine Global Income Optimiser Fund is to optimise the level of distributed income by investing primarily in a broad level of fixed income assets, with the chance to take also smaller positions in equities (max 15%).

Marco Negri (pictured), Italy country head at Legg Mason Global Asset Management, said: “The launch of the new funds aims to meet the diversification demand among investors as well as their increasing need for returns, which has emerged from a survey we have recently conducted among investors.”

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