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Legg Mason Brandywine Global bond fund now available

4 December 2019

Legg Mason Brandywine Global bond fund now available on FNZ investment platform

Legg Mason, one of the world’s leading investment managers, has announced that its first retail fund in New Zealand - the Legg Mason Brandywine Global Opportunistic Fixed Income Fund - is now available to New Zealand investors and investment professionals via the FNZ platform.

FNZ was founded in New Zealand in 2004 by Adrian Durham and New Zealand investment bank and wealth manager Jarden (formerly known as FNZC). The company is a global provider of “Platform-as-a-Service”, seeking to transform the way financial institutions serve their wealth management customers. It partners with banks, insurers and asset managers to help consumers better achieve their financial goals and are responsible for more than $700 billion in global assets under administration, held by around eight million customers of some of the world’s largest financial institutions.

The Legg Mason Brandywine Global Opportunistic Fixed Income Fund was launched in New Zealand last year (March 2018) as the group’s first Portfolio Investment Entity (PIE) given the substantial support and growing interest from NZ wholesale investors.

The flagship Legg Mason Brandywine Global Opportunistic Fixed Income Fund is an unconstrained, high conviction global fixed income strategy with a ‘go anywhere’ style. Brandywine Global manages more than NZ$75 billion from investors worldwide and more than NZ$1 billion on behalf of institutional, wholesale and retail investors in New Zealand.

Colin Taylor, Head of Distribution New Zealand for Legg Mason added: “We have spent considerable time engaging with Financial Advisers to understand their needs and how Legg Mason might help them achieve their objectives. As a result, we are very pleased to have this fund added onto one of New Zealand’s leading investment platforms and increase the access points for advisers. Our affiliate Brandywine Global has a long and successful track record of navigating global bond markets and delivering strong returns for clients. We believe this fund can play an important role in portfolios helping them to achieve attractive risk-adjusted investment performance over the long term.”

Highlights of Legg Mason Brandywine Global Opportunistic Fixed Income Fund:

• Unconstrained, high conviction global fixed income strategy with a ‘go anywhere’ style

• Targets investment in markets offering the highest real yields

• Employs active currency management to protect capital and enhance returns

• PIE structure created to meet strong demand from NZ clients

• Total assets in Legg Mason Brandywine Global Opportunistic Fixed Income (PIE) Fund: NZ$282 million (as at 31 October 2019.

-ends –

About Legg Mason

Guided by a mission of ‘Investing to Improve LivesTM, Legg Mason helps investors globally achieve better financial outcomes by expanding choice across investment strategies, vehicles and investor access through independent investment managers with diverse expertise in equity, fixed income, alternative and liquidity investments. Legg Mason’s assets under management are NZ$1.2 trillion as of 30 September 2019.

Legg Mason provides centralised business and distribution support for its nine affiliated fund managers that include: Brandywine Global, Clarion Partners, ClearBridge, Entrust Global, Martin Currie, RARE Infrastructure, Royce & Associates, QS Investors and Western Asset. Each affiliate operates independently under its own brand and investment process and is considered an industry expert in its asset class.

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