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WACPX Western Asset Core Plus Bond I

  • Fund
  • WACPX
  • Price as of: Dec 05, 2016
  • $11.51
  • + $0.01
  • + 0.09%
  • Category
  • Total Bond Market

WACPX - Profile

Vitals

  • YTD Return 0.7%
  • 3 Yr Annualized Return 4.9%
  • 5 Yr Annualized Return 4.7%
  • Net Assets $17.9 B
  • Holdings in Top 10 21.2%

52 WEEK LOW AND HIGH

$11.51
$11.34
$12.03

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.52%

SALES FEES

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

BROKERAGE FEES

  • Turnover 93.00%

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 Intermediate-Term Bond

Distributions

  • YTD Total Return 0.7%
  • 3 Yr Annualized Total Return 4.9%
  • 5 Yr Annualized Total Return 4.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.05%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Western Asset Core Plus Bond Fund
  • Fund Family Name Legg Mason
  • Inception Date Jul 08, 1998
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Carl L. Eichstaedt

Fund Description

The fund invests in a portfolio of fixed income securities of various maturities and, under normal market conditions, will invest at least 80% of its net assets in debt and fixed income securities. Although the fund may invest in securities of any maturity, it will normally maintain a dollar-weighted average effective duration within 30% of the average duration of the domestic bond market as a whole as estimated by the fund's subadvisers. The fund may invest up to 20% of its total assets in non-U.S. dollar denominated securities.

WACPX - Performance

Return Ranking - Trailing

Period WACPX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 0.7% -8.1% 202.4% 37.48% 3
1 Yr 6.0% -12.6% 13.2% 10.04% 1
3 Yr 4.9% * -5.8% 8.5% 3.01% 1
5 Yr 4.7% * -2.8% 9.4% 7.39% 1
10 Yr 5.8% * -1.7% 9.8% 7.09% 1

* Annualized


Return Ranking - Calendar

Period WACPX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.8% -33.0% 3.0% 20.72% 2
2014 4.0% -9.3% 14.9% 3.48% 1
2013 -4.1% -24.1% 40.4% 41.14% 4
2012 5.0% -100.0% 18.7% 13.31% 1
2011 3.1% -20.6% 15.5% 10.79% 1

Total Return Ranking - Trailing

Period WACPX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 0.7% -7.3% 205.2% 47.93% 3
1 Yr 6.0% -12.6% 16.3% 7.94% 1
3 Yr 4.9% * -7.2% 8.5% 2.60% 1
5 Yr 4.7% * -3.7% 9.4% 6.93% 1
10 Yr 5.8% * -1.7% 9.8% 6.60% 1

* Annualized


Total Return Ranking - Calendar

Period WACPX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.8% -32.5% 4.5% 41.54% 3
2014 4.0% -8.3% 16.8% 19.89% 2
2013 -4.1% -12.9% 58.5% 59.82% 5
2012 5.0% -100.0% 35.2% 33.50% 2
2011 3.1% -20.7% 18.1% 35.27% 2

NAV & Total Return History

WACPX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

WACPX Category Low Category High WACPX % Rank Quintile
Net Assets 17.9 B 319 K 176 B 1.32% 1
Number of Holdings 1972 1 17569 1.48% 1
Net Assets in Top 10 3.77 B -36 B 21.3 B 1.37% 1
Weighting of Top 10 21.2% 0.0% 1093.9% 20.04% 4

Top 10 Holdings

  1. US Treasury Bond 3% 3.21%
  2. US Treasury Bond 3.375% 2.71%
  3. US Treasury Note 1.375% 2.66%
  4. US Treasury Bond 2.5% 2.59%
  5. US Treasury Note 1.375% 2.26%
  6. US Treasury Bond 3% 2.07%
  7. US Treasury Bond 3% 1.83%
  8. US Treasury Note 1.25% 1.41%
  9. Fannie Mae Single Family TBA 4% 2046-11-01 1.36%
  10. Ginnie Mae Jumbos TBA 3.5% 2046-11-01 1.12%

Asset Allocation

Weighting Category Low Category High WACPX % Rank Quintile
Bonds
99.32% -175.98% 192.68% 3.26% 1
Other
2.10% -30.71% 98.36% 6.87% 2
Stocks
0.43% -3.27% 98.09% 3.97% 1
Preferred Stocks
0.28% -0.45% 17.13% 6.00% 2
Convertible Bonds
0.00% 0.00% 12.73% 5.65% 3
Cash
-2.13% -96.63% 275.92% 25.33% 5

Stock Sector Breakdown

Weighting Category Low Category High WACPX % Rank Quintile
Utilities
0.00% -0.13% 4.31% 5.34% 2
Technology
0.00% -2.37% 18.95% 5.23% 1
Real Estate
0.00% -0.31% 15.95% 5.12% 1
Industrials
0.00% -0.83% 11.90% 5.34% 2
Healthcare
0.00% -1.47% 13.44% 4.34% 1
Financial Services
0.00% -0.47% 17.99% 7.68% 3
Energy
0.00% -0.88% 10.68% 5.45% 2
Communication Services
0.00% -0.57% 8.42% 3.89% 2
Consumer Defense
0.00% -0.34% 13.63% 4.89% 2
Consumer Cyclical
0.00% -0.36% 12.25% 5.67% 2
Basic Materials
0.00% -0.43% 12.15% 5.01% 2

Stock Geographic Breakdown

Weighting Category Low Category High WACPX % Rank Quintile
US
0.43% -2.87% 90.73% 3.56% 1
Non US
0.00% -1.22% 96.69% 3.00% 1

Bond Sector Breakdown

Weighting Category Low Category High WACPX % Rank Quintile
Government
37.71% -389.49% 128.09% 5.34% 1
Securitized
31.75% 0.00% 105.84% 12.87% 3
Corporate
30.03% 0.00% 221.70% 19.13% 4
Municipal
0.09% 0.00% 105.76% 12.51% 4
Derivative
0.02% -513.07% 38.63% 2.24% 1
Cash & Equivalents
-2.14% -63.55% 416.01% 25.23% 5

Bond Geographic Breakdown

Weighting Category Low Category High WACPX % Rank Quintile
US
86.04% -370.09% 180.29% 10.07% 2
Non US
13.28% -45.82% 351.70% 13.63% 3

WACPX - Expenses

Operational Fees

WACPX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.52% 0.00% 42.51% 12.06% 1
Management Fee 0.40% 0.00% 2.15% 2.95% 2
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

WACPX Fees (% of AUM) Category Low Category High WACPX 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

WACPX Fees (% of AUM) Category Low Category High WACPX 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.

WACPX Fees (% of AUM) Category Low Category High WACPX Rank Quintile
Turnover 93.00% 0.00% 1856.00% 10.03% 3

WACPX - Distributions

Dividend Yield Analysis

WACPX Category Low Category High WACPX % Rank Quintile
Dividend Yield 0.4% 0.00% 1.30% 7.52% 1

Dividend Distribution Analysis

WACPX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

WACPX Category Low Category High WACPX % Rank Quintile
Net Income Ratio 3.05% -1.76% 17.13% 8.50% 1

Capital Gain Distribution Analysis

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

WACPX - Managers

Carl L. Eichstaedt

Manager

Start Date

Jul 08, 1998

Tenure

18.33

Tenure Rank

0.7%

Eichstaedt is portfolio manager with Western Asset Management, his employer since 1994. Prior to joining the firm, he was a portfolio manager for Harris Investment Management. He was also a portfolio manager with Pacific Investment Management from 1992-1993. From 1990-1992, he was director of fixed income at Security Pacific Investment Managers. He has over 22 years of investment experience. He has a BS from the University of Illinois and an MBA from Kellogg Graduate School of Management at Northwestern University. Eichstaedt holds the Chartered Financial Analyst designation.


Mark S. Lindbloom

Manager

Start Date

Dec 31, 2006

Tenure

9.84

Tenure Rank

2.8%

Lindbloom joined Western Asset in 2005 as a portfolio manager. Prior to Western Asset, he worked for Citigroup Asset Management as a portfolio manager from 1986 to 2005; Brown Brothers Harriman Co. as a portfolio manager from 1981 to 1986 and The New York Life Insurance Company as an analyst from 1979 to 1981. He has over 30 years of investment experience. He has a BS from Rider University and an MBA from Pace University.


S. Kenneth Leech

Manager

Start Date

Aug 19, 2013

Tenure

3.2

Tenure Rank

6.6%

Leech transitioned into a CIO Emeritus role in September 2008 and joined Western Asset as Chief Investment Officer in 1990. Prior to joining Western in 1990, he was a portfolio manager with Greenwich Capital Markets from 1988 to 1990; the First Boston Corporation from 1980 to 1988; and the National Bank of Detroit from 1977 to 1980. He has over 32 years of investment experience.


Michael C. Buchanan

Manager

Start Date

Dec 31, 2005

Tenure

10.84

Tenure Rank

2.5%

Michael Buchanan, Managing Director, is head of US credit products, a senior member of the Core Fixed Income team and a member of the Global Credit Committee. He joined in 2003 from Janus Capital Management, where he was an Executive Vice President and managed high yield portfolios. Previously, he was a Managing Director at BlackRock Financial Management, where he was a senior high yield portfolio manager and a member of the firm’s investment strategy group; and a Vice President at Conseco Capital Management, where he managed high yield portfolios and was responsible for the trading of high yield debt, bank loans and emerging market debt. Mr. Buchanan holds a BA in business economics and organizational behavior/management from Brown University. He is a CFA charterholder.


Chia-Liang Lian

Manager

Start Date

May 01, 2015

Tenure

1.5

Tenure Rank

7.9%

Chia-Liang Lian is currently Co-Head of Emerging Markets Debt and Co-Head of Investment Management, Asia (ex-Japan) as of April 2014 at Western Asset. Mr. Lian has 21 years of investment experience, having joined the Firm in 2011 after approximately six years with Pacific Investment Management Company (PIMCO), where he served as Head of Emerging Asia Portfolio Management. Mr. Lian also spent eight years as a sovereign debt strategist at JPMorgan Chase and Merrill Lynch, and four years at the Monetary Authority of Singapore (MAS) as a senior economist responsible for formulating exchange rate policy. He is based in Western Asset’s Singapore office, where he oversees the local investment team responsible for the Firm’s Asian debt. Under his leadership, Western Asset received Benchmark Magazine’s Best-In-Class House Award in Asia Fixed Income in 2012. Mr. Lian holds the Chartered Financial Analyst designation and has an undergraduate degree in Economics from the National University of Singapore where he graduated as part of the MAS scholars program.


Julien A. Scholnick

Manager

Start Date

May 01, 2016

Tenure

0.5

Tenure Rank

8.8%

Julien Scholnick is the portfolio manager of Western Asset Management Company. And has been employed by Western Asset as an investment professional for at least the past five years.


Tenure Analysis

Category Low

0.0

Category High

27.9

Category Average

6.07

Category Mode

4.8