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LBORX Legg Mason BW Global Opportunities Bd R

  • Fund
  • LBORX
  • Price as of: Aug 08, 2016
  • $10.94
  • + $0.02
  • + 0.18%
  • Category
  • Global Bonds

LBORX - Profile

Vitals

  • YTD Return 11.6%
  • 3 Yr Annualized Return 2.2%
  • 5 Yr Annualized Return 2.8%
  • Net Assets $3.19 B
  • Holdings in Top 10 41.6%

52 WEEK LOW AND HIGH

$10.94
$9.66
$10.95

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.27%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 59.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$0

IRA

N/A

Investment Themes

CATEGORY

Global Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style World Bond

Distributions

  • YTD Total Return 11.6%
  • 3 Yr Annualized Total Return 2.2%
  • 5 Yr Annualized Total Return 2.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.53%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Semi-Annually

Fund Details

  • Legal Name Legg Mason BW Global Opportunities Bond Fund
  • Fund Family Name Legg Mason
  • Inception Date Sep 30, 2011
  • Shares Outstanding N/A
  • Share Class Retirement
  • Currency USD
  • Domiciled Country United States
  • Manager Stephen S. Smith

Fund Description

The fund normally invests at least 80% of its net assets in fixed income securities of issuers located in developed market countries. It will invest in both investment grade and below investment grade fixed income securities, and the advisor intends to invest less than 35% of its net assets in below investment grade fixed income securities (commonly known as "high yield debt" or "junk bonds"). The fund may invest up to 25% of its net assets in convertible debt securities. It is non-diversified.

LBORX - Performance

Return Ranking - Trailing

Period LBORX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 11.6% -10.2% 227.4% 8.01% 1
1 Yr 6.5% -14.6% 13.8% 38.61% 2
3 Yr 2.2% * -2.3% 8.0% 46.74% 3
5 Yr 2.8% * -1.5% 7.9% 29.10% 2
10 Yr N/A * 2.2% 6.8% N/A N/A

* Annualized


Return Ranking - Calendar

Period LBORX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -10.7% -12.4% 1.4% 71.23% 5
2014 N/A -5.2% -5.2% N/A N/A
2013 N/A -1.8% -1.8% N/A N/A
2012 N/A 7.8% 7.8% N/A N/A
2011 N/A -8.7% -8.7% N/A N/A

Total Return Ranking - Trailing

Period LBORX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 11.6% -6.2% 227.4% 8.06% 1
1 Yr 6.5% -18.0% 12.6% 29.75% 2
3 Yr 2.2% * -3.3% 8.0% 39.86% 2
5 Yr 2.8% * -1.9% 7.9% 27.05% 2
10 Yr N/A * 2.2% 6.8% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period LBORX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -10.7% -12.4% 1.4% 70.98% 5
2014 N/A -2.5% -2.5% N/A N/A
2013 N/A 2.3% 2.3% N/A N/A
2012 N/A 20.6% 20.6% N/A N/A
2011 N/A -2.9% -2.9% N/A N/A

NAV & Total Return History

LBORX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

LBORX Category Low Category High LBORX % Rank Quintile
Net Assets 3.19 B 4.39 M 62.3 B 4.10% 2
Number of Holdings 89 1 4104 21.77% 5
Net Assets in Top 10 1.3 B -831 M 13.8 B 3.15% 1
Weighting of Top 10 41.6% 4.9% 325.9% 11.04% 2

Top 10 Holdings

  1. Mex Bonos Desarr Fix Rt Sr Unsecured 11/42 7.75 5.96%
  2. US Treasury Bond 2.5% 5.78%
  3. Uk Tsy 1.25 2018 Bonds Regs 07/18 1.25 5.32%
  4. US Treasury Note 0.41% 4.34%
  5. Mexico(Utd Mex St) 8.5% 4.19%
  6. Mex Bonos Desarr Fix Rt Sr Unsecured 05/29 8.5 3.87%
  7. Goldman Sachs Grp Inc Mtn Be FRN 3.60%
  8. Nota Do Tesouro Nacional Notes 01/27 10 3.21%
  9. New Sth Wales Tsy 5% 2.68%
  10. US Treasury Bond 3% 2.64%

Asset Allocation

Weighting Category Low Category High LBORX % Rank Quintile
Bonds
92.88% -161.20% 138.34% 8.20% 2
Cash
5.42% -46.56% 258.14% 17.67% 4
Other
1.70% -4.85% 19.21% 14.51% 3
Convertible Bonds
0.00% 0.00% 8.26% 10.09% 4
Preferred Stocks
0.00% 0.00% 3.07% 8.20% 4
Stocks
0.00% -2.25% 44.30% 7.89% 4

Bond Sector Breakdown

Weighting Category Low Category High LBORX % Rank Quintile
Government
69.17% -31.31% 126.24% 5.68% 1
Corporate
17.68% 0.00% 81.66% 15.77% 4
Cash & Equivalents
5.42% -74.91% 252.69% 18.93% 4
Municipal
3.03% 0.00% 44.60% 1.89% 1
Securitized
0.63% 0.00% 59.60% 20.50% 4
Derivative
0.00% -178.45% 44.64% 4.42% 2

Bond Geographic Breakdown

Weighting Category Low Category High LBORX % Rank Quintile
Non US
51.70% -0.31% 347.04% 17.35% 3
US
41.18% -338.77% 91.76% 7.26% 2

LBORX - Expenses

Operational Fees

LBORX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.27% 0.09% 7.16% 28.39% 3
Management Fee 0.50% 0.00% 1.30% 7.89% 2
12b-1 Fee 0.50% 0.00% 1.00% 4.50% 3
Administrative Fee N/A 0.00% 0.45% N/A N/A

Sales Fees

LBORX Fees (% of AUM) Category Low Category High LBORX Rank Quintile
Front Load N/A 2.50% 5.75% N/A N/A
Deferred Load N/A 0.75% 5.50% N/A N/A

Trading Fees

LBORX Fees (% of AUM) Category Low Category High LBORX Rank Quintile
Max Redemption Fee N/A 1.00% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

LBORX Fees (% of AUM) Category Low Category High LBORX Rank Quintile
Turnover 59.00% 0.00% 477.00% 16.72% 2

LBORX - Distributions

Dividend Yield Analysis

LBORX Category Low Category High LBORX % Rank Quintile
Dividend Yield 0.3% 0.00% 1.16% 28.43% 2

Dividend Distribution Analysis

LBORX Category Low Category High Category Mode
Dividend Distribution Frequency Semi-Annually Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

LBORX Category Low Category High LBORX % Rank Quintile
Net Income Ratio 2.53% -0.85% 6.81% 29.02% 2

Capital Gain Distribution Analysis

LBORX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

LBORX - Managers

Stephen S. Smith

Manager

Start Date

Nov 01, 2006

Tenure

9.75

Tenure Rank

2.4%

Steve is co-lead portfolio manager for the Firm's Global Fixed Income and related strategies. He joined the Firm in 1991 to diversify the Firm's investment strategies and start the global fixed income product. Previously, Steve was with Mitchell Hutchins Asset Management, Inc. as managing director of taxable fixed income (1988-1991); Provident Capital Management, Inc. as senior vice president overseeing taxable fixed income (1984-1988); Munsch & Smith Management as a founding partner (1980-1984), and First Pennsylvania Bank as vice president and portfolio manager in the fixed income division.


David F. Hoffman

Manager

Start Date

Nov 01, 2006

Tenure

9.75

Tenure Rank

2.4%

David is co-lead portfolio manager for the Firm's Global Fixed Income and related strategies. He joined the Firm in 1995. Previously, David was president of Hoffman Capital, a global financial futures investment firm (1991-1995); head of fixed income investments at Columbus Circle Investors (1983-1990); senior vice president and portfolio manager at INA Capital Management (1979-1982), and fixed income portfolio manager at Provident National Bank (1975-1979).


John (Jack) P. McIntyre

Manager

Start Date

Feb 22, 2012

Tenure

4.44

Tenure Rank

6.1%

John(Jack) P. McIntyre, CFA is Associate Portfolio Manager/Senior Research Analyst and is responsible for research and market insight. Mr. McIntyre has been employed at Brandywine Global since 1998. Previously, he held positions as market strategist with McCarthy, Crisanti & Maffei, Inc. (1995-1998); senior fixed income analyst with Technical Data (1992-1995); quantitative associate with Brown Brothers Harriman & Co. (1990), and investment analyst with the Public Employee Retirement Administration of Massachusetts (1987-1989).


Tenure Analysis

Category Low

0.1

Category High

24.6

Category Average

5.67

Category Mode

1.6