Western Asset Management is a global fixed-income investment
manager headquartered in Pasadena, California. Founded in 1971, the
company focuses exclusively on bond portfolios. It offers a diverse
selection of investment options, including global, sectoral and
diversified strategies, as well as strategies customized to investors'
needs. Available investment vehicles include managed separate accounts, commingled funds,
open-end funds, closed-end funds and exchange-traded funds (ETFs). The
company offers products for institutional and retail investors.
In 1986, Western Asset Management was acquired by the global asset management company Legg Mason, Inc. (NYSE: LM). Under Legg Mason's multi-manager business model, Western Asset Management operates as an independent entity, following its own investment philosophy and decision-making process. As of the end of 2015, the company has more than $433 billion in assets under management (AUM) spread across substantially all sectors of the bond market.
Along with its vast research program, Western Asset Management has implemented a separate risk management team with an independent reporting structure to evaluate the investment process on a day-to-day basis. The risk management team leverages third-party and proprietary technology, professional experience and internal information sharing to provide comprehensive risk evaluation for all the firm's portfolios. A variety of risk management systems are also in place to automatically monitor risk profiles as market conditions change throughout the trading day.
Western Asset Management also maintains a client-facing services
division to provide institutional investors with dedicated customer
support, allowing portfolio managers and team members to focus
exclusively on their work managing investments. Client services
professionals work closely with investment teams to facilitate
information sharing, assist with client reporting requirements and
provide general portfolio support. Western Asset Management does not
generally provide client services for retail investors. The company's
retail products are distributed through primarily Legg Mason and
third-party financial intermediaries.
Most of the company's strategies are available to institutional investors in the form of separate accounts or commingled vehicles. More than 50 bond funds are also available, covering core, sector and customized investment strategies. A subset of the company's products are available to retail investors in the form of mutual funds, closed-end funds, managed accounts and other vehicles.
S. Kenneth Leech has served as chief investment officer (CIO) at Western Asset Management since 1998. He joined the firm in 1990. Leech oversees investment strategy at Western Asset Management and leads the U.S. broad portfolio, global portfolio and macro opportunity investment teams. Leech holds bachelor's and master's degrees from the Wharton School of the University of Pennsylvania.
In 1986, Western Asset Management was acquired by the global asset management company Legg Mason, Inc. (NYSE: LM). Under Legg Mason's multi-manager business model, Western Asset Management operates as an independent entity, following its own investment philosophy and decision-making process. As of the end of 2015, the company has more than $433 billion in assets under management (AUM) spread across substantially all sectors of the bond market.
Investment Approach
Western Asset Management's investment operations are founded on quality research, risk management and client service. The company's investment approach focuses primarily on long-term value investing based on intensive proprietary research and disciplined analysis. The company has business offices and research operations in nine cities across the globe, including New York, Melbourne, São Paulo and Hong Kong. The global network of offices and research teams deliver rigorous, locally sourced research in support of the company's large selection of geographically diverse strategies.Along with its vast research program, Western Asset Management has implemented a separate risk management team with an independent reporting structure to evaluate the investment process on a day-to-day basis. The risk management team leverages third-party and proprietary technology, professional experience and internal information sharing to provide comprehensive risk evaluation for all the firm's portfolios. A variety of risk management systems are also in place to automatically monitor risk profiles as market conditions change throughout the trading day.
Product Overview
As of February 2016, Western Asset Management offers 95 strategy-based products covering the fixed-income market. Among the company's sector-specific products are municipal, credit, emerging market and structured product strategies. Its global products include credit, government and total return strategies. The company also offers a wide variety of diversified fixed-income strategies including U.S., global and regional products. Western Asset Management's customized strategies seek to deliver strategy options matching special investment objectives that include global diversification, principal preservation, income enhancement and inflation protection.Most of the company's strategies are available to institutional investors in the form of separate accounts or commingled vehicles. More than 50 bond funds are also available, covering core, sector and customized investment strategies. A subset of the company's products are available to retail investors in the form of mutual funds, closed-end funds, managed accounts and other vehicles.
Leadership
James W. Hirschmann III is president and chief executive officer (CEO) of Western Asset Management. He joined the company in 1989, becoming CEO in 1999. Hirschmann has also served as chief operating officer (COO) and president at Western Asset Management's parent company, Legg Mason. Hirschmann completed his undergraduate education at Widener University.S. Kenneth Leech has served as chief investment officer (CIO) at Western Asset Management since 1998. He joined the firm in 1990. Leech oversees investment strategy at Western Asset Management and leads the U.S. broad portfolio, global portfolio and macro opportunity investment teams. Leech holds bachelor's and master's degrees from the Wharton School of the University of Pennsylvania.
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