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LROIX Legg Mason BW Absolute Return Opp I

  • Fund
  • LROIX
  • Price as of: Aug 08, 2016
  • $11.72
  • + $0.04
  • + 0.34%
  • Category
  • Total Bond Market

LROIX - Profile

Vitals

  • YTD Return 4.5%
  • 3 Yr Annualized Return 1.4%
  • 5 Yr Annualized Return 3.8%
  • Net Assets $1.53 B
  • Holdings in Top 10 51.7%

52 WEEK LOW AND HIGH

$11.72
$10.95
$11.86

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.86%

SALES FEES

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

BROKERAGE FEES

  • Turnover 43.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000,000

IRA

$1,000,000

Investment Themes

CATEGORY

Total Bond Market
  • Fund Type Open End Mutual Fund
  • Investment Style Nontraditional Bond

Distributions

  • YTD Total Return 4.5%
  • 3 Yr Annualized Total Return 1.4%
  • 5 Yr Annualized Total Return 3.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.22%
DIVIDENDS
  • Dividend Yield 0.6%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Legg Mason BW Absolute Return Opportunities Fund
  • Fund Family Name Legg Mason
  • Inception Date Feb 28, 2011
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Stephen S. Smith

LROIX - Performance

Return Ranking - Trailing

Period LROIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 4.5% -29.9% 209.8% 15.58% 1
1 Yr -0.6% -15.9% 20.3% 90.43% 5
3 Yr 1.4% * -6.4% 10.4% 70.85% 4
5 Yr 3.8% * -3.4% 9.0% 26.02% 2
10 Yr N/A * -1.1% 10.2% N/A N/A

* Annualized


Return Ranking - Calendar

Period LROIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -9.8% -51.0% 6.6% 68.10% 5
2014 N/A -0.4% 2.9% N/A N/A
2013 N/A -4.9% -0.8% N/A N/A
2012 N/A 0.8% 13.9% N/A N/A
2011 N/A -1.7% 3.8% N/A N/A

Total Return Ranking - Trailing

Period LROIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 4.5% -8.1% 209.8% 15.84% 1
1 Yr -0.6% -19.0% 20.3% 81.28% 5
3 Yr 1.4% * -7.1% 10.4% 67.77% 4
5 Yr 3.8% * -4.3% 9.0% 23.52% 2
10 Yr N/A * -1.1% 10.2% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period LROIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -9.8% -51.0% 6.6% 68.17% 5
2014 N/A -0.3% 4.5% N/A N/A
2013 N/A -4.6% 0.6% N/A N/A
2012 N/A 1.4% 15.7% N/A N/A
2011 N/A -0.9% 5.5% N/A N/A

NAV & Total Return History

LROIX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

LROIX Category Low Category High LROIX % Rank Quintile
Net Assets 1.53 B 319 K 169 B 9.31% 2
Number of Holdings 61 1 17404 22.63% 5
Net Assets in Top 10 467 M -36 B 21.5 B 6.66% 2
Weighting of Top 10 51.7% 0.0% 1826.2% 6.61% 2

Top 10 Holdings

  1. Euro-Oat Future Sep16 Xeur 20160908 10.28%
  2. US Treasury Note 0.392% 7.28%
  3. Us Ultra Bond Cbt Sep16 Xcbt 20160921 6.04%
  4. Mex Bonos Desarr Fix Rt Sr Unsecured 11/42 7.75 5.81%
  5. Mexico(Utd Mex St) 8.5% 4.51%
  6. Mex Bonos Desarr Fix Rt Sr Unsecured 05/29 8.5 4.01%
  7. Brazil Federative Rep 10% 3.87%
  8. Hungary(Rep Of) 6% 3.34%
  9. Indonesia Government Sr Unsecured 03/29 9 3.31%
  10. Goldman Sachs Grp Inc Mtn Be FRN 3.27%

Asset Allocation

Weighting Category Low Category High LROIX % Rank Quintile
Bonds
72.30% -175.98% 181.87% 24.11% 5
Cash
26.35% -82.73% 275.92% 4.02% 1
Other
1.36% -15.97% 117.15% 8.04% 2
Convertible Bonds
0.00% 0.00% 18.40% 5.29% 4
Preferred Stocks
0.00% -0.07% 17.65% 7.78% 4
Stocks
0.00% -5.60% 98.06% 5.39% 4

Bond Sector Breakdown

Weighting Category Low Category High LROIX % Rank Quintile
Government
50.84% -990.83% 129.84% 2.24% 1
Cash & Equivalents
26.35% -63.55% 811.66% 4.43% 1
Corporate
17.77% 0.00% 502.59% 26.09% 5
Municipal
2.82% 0.00% 106.20% 4.98% 1
Securitized
0.57% 0.00% 275.57% 28.28% 5
Derivative
0.00% -895.14% 18.41% 2.14% 3

Bond Geographic Breakdown

Weighting Category Low Category High LROIX % Rank Quintile
Non US
48.12% -5.42% 399.20% 1.48% 1
US
24.18% -513.97% 163.91% 29.09% 5

LROIX - Expenses

Operational Fees

LROIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.86% 0.00% 42.51% 10.38% 3
Management Fee 0.64% 0.00% 2.15% 1.78% 5
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.63% N/A N/A

Sales Fees

LROIX Fees (% of AUM) Category Low Category High LROIX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 0.15% 5.50% N/A N/A

Trading Fees

LROIX Fees (% of AUM) Category Low Category High LROIX Rank Quintile
Max Redemption Fee N/A 0.25% 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.

LROIX Fees (% of AUM) Category Low Category High LROIX Rank Quintile
Turnover 43.00% 0.00% 1944.00% 13.59% 2

LROIX - Distributions

Dividend Yield Analysis

LROIX Category Low Category High LROIX % Rank Quintile
Dividend Yield 0.6% 0.00% 1.30% 3.63% 1

Dividend Distribution Analysis

LROIX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

LROIX Category Low Category High LROIX % Rank Quintile
Net Income Ratio 2.22% -1.76% 17.13% 12.26% 3

Capital Gain Distribution Analysis

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

LROIX - Managers

Stephen S. Smith

Manager

Start Date

Feb 28, 2011

Tenure

5.42

Tenure Rank

5.0%

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

Feb 28, 2011

Tenure

5.42

Tenure Rank

5.0%

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 28, 2011

Tenure

5.42

Tenure Rank

5.0%

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

0.0

Category High

27.6

Category Average

5.91

Category Mode

1.6