Fund
LMAOX
Price as of:
$8.93
+ $0.01
+ 0.11%
Primary Theme
fund company
Name
As of 04/17/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
1.6%
1 yr return
0.6%
3 Yr Avg Return
-1.0%
5 Yr Avg Return
1.0%
Net Assets
$71.1 M
Holdings in Top 10
31.7%
52 WEEK LOW AND HIGH
$8.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.85%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 187.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/17/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
LMAOX - Profile
Distributions
- YTD Total Return 1.6%
- 3 Yr Annualized Total Return -1.0%
- 5 Yr Annualized Total Return 1.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.78%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameBrandywineGLOBAL - Alternative Credit Fund
-
Fund Family NameFRANKLIN TEMPLETON
-
Inception DateDec 02, 2013
-
Shares OutstandingN/A
-
Share ClassF
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBrian Kloss
Fund Description
Under normal circumstances, the fund seeks to achieve its investment objective by taking a flexible, long and short global credit approach. The fund will rotate amongst the global credit opportunities (long or short) that the subadviser finds most attractive and navigate the credit quality spectrum throughout the different phases of the business cycle. The fund also has the flexibility to hedge or increase exposure to certain risks based on the subadviser’s macroeconomic views. The fund expects to trade actively.
The fund may invest in securities, derivatives and other financial instruments of issuers located anywhere in the world. The fund may focus a significant portion of its investments in a single country or currency and may change a country or currency focus at any time based on the opportunities the subadviser finds most attractive. In selecting investment opportunities, the subadviser may consider whether the security is denominated in a currency that the subadviser expects to appreciate versus the U.S. dollar.
The fund may hold debt securities of any credit quality, whether rated or unrated. As a general guideline, the fund over the long term normally aims to average at least 50% of its total assets in high yield securities (commonly known as “junk bonds”); however this allocation may range from 0%-100% at any time. High yield bonds are those rated below investment grade (that is, securities rated below the Baa/BBB categories by at least one Nationally Recognized Statistical Rating Organization) or, if unrated, determined by the subadviser to be of comparable credit quality. The fund’s investments may be rated either below investment grade or investment grade and may include, but are not limited to: corporate bonds; sovereign or government debt securities, including U.S. municipal securities; debt of supranational agencies; convertible securities; agency and non-agency mortgage-backed securities; asset-backed securities; bank loans; common and preferred stock; and currencies.
The fund may invest a significant portion of its investments in certain types of investments, including agency and non-agency mortgage-backed securities. The fund may invest in stripped mortgage-backed securities and other stripped securities. The fund may enter into dollar rolls (sometimes referred to as mortgage dollar rolls).
The fund may hold instruments of any maturity or duration, and the securities may have fixed, floating or variable rates of interest. The maturity of a fixed income security is a measure of the time remaining until the final payment on the security is due. The weighted average effective duration of the fund’s portfolio, including derivatives, is expected to range from -10 to 10 years. Duration is a measure of the underlying portfolio’s price sensitivity to changes in prevailing interest rates.
The fund may invest in the equities of issuers of any market capitalization. It will not invest more than 20% of its total assets in equity securities. The fund may also enter into various derivative transactions for both hedging and non-hedging purposes, including as a substitute for buying or selling securities, for purposes of enhancing returns, which transactions may be regarded as speculative. These derivative transactions include, but are not limited to, forwards, futures, options, swaps, credit default swaps and commodity-linked investments. Further, the fund may establish short positions, mainly through, but not limited to derivatives, to a substantial degree. Derivatives will not be used in a way that would cause the fund to violate the guidelines stated in this section, but there are no other percentage limits on the use of derivatives. The fund may use one or more types of these instruments without limit.
The fund will not be leveraged through borrowing. However, certain types of derivatives have a leverage-like effect on the portfolio, in that they require a relatively small premium or margin payment in relation to the size of the investment exposure the fund acquires.
The fund is classified as “non-diversified,” which means it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.
LMAOX - Performance
Return Ranking - Trailing
| Period | LMAOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.6% | -13.9% | 8.4% | 18.89% |
| 1 Yr | 0.6% | -10.9% | 21.0% | 91.02% |
| 3 Yr | -1.0%* | -17.5% | 17.9% | 63.52% |
| 5 Yr | 1.0%* | -13.4% | 14.8% | 69.62% |
| 10 Yr | 1.8%* | -13.6% | 6.5% | 63.80% |
* Annualized
Return Ranking - Calendar
| Period | LMAOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -6.7% | -12.0% | 15.7% | 97.53% |
| 2022 | -4.7% | -31.8% | 18.4% | 6.66% |
| 2021 | 0.8% | -26.6% | 25.7% | 12.27% |
| 2020 | -3.2% | -49.2% | 18.7% | 84.37% |
| 2019 | 3.0% | -35.1% | 15.3% | 73.09% |
Total Return Ranking - Trailing
| Period | LMAOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.6% | -13.9% | 8.4% | 18.89% |
| 1 Yr | 0.6% | -10.9% | 21.0% | 91.02% |
| 3 Yr | -1.0%* | -17.5% | 17.9% | 63.52% |
| 5 Yr | 1.0%* | -13.4% | 14.8% | 69.62% |
| 10 Yr | 1.8%* | -13.6% | 6.5% | 63.80% |
* Annualized
Total Return Ranking - Calendar
| Period | LMAOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -3.2% | -7.0% | 22.2% | 98.15% |
| 2022 | -2.6% | -31.8% | 21.1% | 14.26% |
| 2021 | 4.6% | -13.5% | 49.9% | 12.44% |
| 2020 | 0.9% | -28.6% | 24.1% | 82.24% |
| 2019 | 6.2% | -4.8% | 19.1% | 77.10% |
NAV & Total Return History
LMAOX - Holdings
Concentration Analysis
| LMAOX | Category Low | Category High | LMAOX % Rank | |
|---|---|---|---|---|
| Net Assets | 71.1 M | 2.53 M | 143 B | 88.18% |
| Number of Holdings | 83 | 4 | 9868 | 84.93% |
| Net Assets in Top 10 | 22.8 M | -1.57 B | 65.8 B | 85.84% |
| Weighting of Top 10 | 31.67% | 0.7% | 170.6% | 43.50% |
Top 10 Holdings
- Western Asset Premier Institutional US Treasury Reserves 5.34%
- Connecticut Avenue Securities Trust 2019-R06 3.88%
- Connecticut Avenue Securities Trust 2019-R04 3.74%
- Connecticut Avenue Securities Trust 2020-R02 3.35%
- Wells Fargo Commercial Mortgage Trust 2019-C51 3.32%
- Connecticut Avenue Securities Trust 2019-R03 2.83%
- Freddie Mac STACR REMIC Trust 2020-DNA3 2.82%
- Connecticut Avenue Securities Trust 2019-R05 2.42%
- Colombian TES 1.98%
- Magnolia Oil Gas Operating LLC / Magnolia Oil Gas Finance Corp 1.98%
Asset Allocation
| Weighting | Return Low | Return High | LMAOX % Rank | |
|---|---|---|---|---|
| Bonds | 94.21% | -150.81% | 203.29% | 35.46% |
| Cash | 5.34% | -94.66% | 258.91% | 39.42% |
| Other | 2.49% | -62.91% | 100.00% | 50.68% |
| Convertible Bonds | 1.44% | 0.00% | 33.50% | 47.03% |
| Stocks | 0.03% | -1.60% | 99.88% | 66.06% |
| Preferred Stocks | 0.00% | 0.00% | 30.46% | 82.34% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | LMAOX % Rank | |
|---|---|---|---|---|
| Basic Materials | 100.00% | 0.00% | 100.00% | 0.84% |
| Utilities | 0.00% | 0.00% | 100.00% | 84.55% |
| Technology | 0.00% | 0.00% | 28.30% | 82.02% |
| Real Estate | 0.00% | 0.00% | 100.00% | 83.15% |
| Industrials | 0.00% | 0.00% | 100.00% | 86.52% |
| Healthcare | 0.00% | 0.00% | 18.60% | 83.43% |
| Financial Services | 0.00% | 0.00% | 100.00% | 87.36% |
| Energy | 0.00% | 0.00% | 100.00% | 93.82% |
| Communication Services | 0.00% | 0.00% | 100.00% | 84.27% |
| Consumer Defense | 0.00% | 0.00% | 99.97% | 82.87% |
| Consumer Cyclical | 0.00% | 0.00% | 89.95% | 85.11% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | LMAOX % Rank | |
|---|---|---|---|---|
| US | 0.03% | -1.47% | 99.88% | 61.64% |
| Non US | 0.00% | -0.13% | 17.73% | 76.41% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | LMAOX % Rank | |
|---|---|---|---|---|
| Securitized | 52.01% | 0.00% | 99.65% | 15.70% |
| Corporate | 9.35% | 0.00% | 96.66% | 81.32% |
| Cash & Equivalents | 5.34% | 0.00% | 88.14% | 35.11% |
| Government | 1.50% | 0.00% | 99.43% | 79.91% |
| Municipal | 0.00% | 0.00% | 54.26% | 80.53% |
| Derivative | -0.19% | -62.91% | 37.37% | 72.37% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | LMAOX % Rank | |
|---|---|---|---|---|
| US | 88.37% | -151.11% | 203.29% | 34.55% |
| Non US | 5.84% | 0.00% | 67.77% | 38.96% |
LMAOX - Expenses
Operational Fees
| LMAOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.85% | 0.01% | 20.67% | 21.55% |
| Management Fee | 1.15% | 0.00% | 2.29% | 88.97% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 46.05% |
| Administrative Fee | N/A | 0.00% | 0.70% | N/A |
Sales Fees
| LMAOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| LMAOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.50% | 2.00% | N/A |
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.
| LMAOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 187.00% | 0.00% | 632.00% | 88.05% |
LMAOX - Distributions
Dividend Yield Analysis
| LMAOX | Category Low | Category High | LMAOX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 23.30% | 54.45% |
Dividend Distribution Analysis
| LMAOX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| LMAOX | Category Low | Category High | LMAOX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.78% | -1.55% | 11.51% | 56.88% |
Capital Gain Distribution Analysis
| LMAOX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 28, 2024 | $0.248 | OrdinaryDividend |
| Sep 29, 2023 | $0.103 | OrdinaryDividend |
| Jun 30, 2023 | $0.080 | OrdinaryDividend |
| Mar 31, 2023 | $0.151 | OrdinaryDividend |
| Dec 20, 2022 | $0.080 | OrdinaryDividend |
| Sep 30, 2022 | $0.023 | OrdinaryDividend |
| Mar 31, 2022 | $0.112 | OrdinaryDividend |
| Dec 20, 2021 | $0.091 | OrdinaryDividend |
| Sep 30, 2021 | $0.084 | OrdinaryDividend |
| Jun 30, 2021 | $0.087 | OrdinaryDividend |
| Mar 31, 2021 | $0.118 | OrdinaryDividend |
| Dec 18, 2020 | $0.243 | OrdinaryDividend |
| Sep 30, 2020 | $0.033 | OrdinaryDividend |
| Jun 30, 2020 | $0.028 | OrdinaryDividend |
| Mar 31, 2020 | $0.104 | OrdinaryDividend |
| Dec 19, 2019 | $0.159 | OrdinaryDividend |
| Sep 30, 2019 | $0.034 | OrdinaryDividend |
| Jun 28, 2019 | $0.066 | DailyAccrualFund |
| Mar 29, 2019 | $0.064 | DailyAccrualFund |
| Dec 20, 2018 | $0.034 | DailyAccrualFund |
| Jun 28, 2018 | $0.005 | DailyAccrualFund |
| Mar 28, 2018 | $0.092 | DailyAccrualFund |
| Dec 21, 2017 | $0.108 | DailyAccrualFund |
| Sep 29, 2017 | $0.053 | DailyAccrualFund |
| Jun 30, 2017 | $0.089 | DailyAccrualFund |
| Mar 31, 2017 | $0.139 | DailyAccrualFund |
| Mar 31, 2016 | $0.004 | DailyAccrualFund |
| Feb 29, 2016 | $0.005 | DailyAccrualFund |
| Jan 29, 2016 | $0.009 | DailyAccrualFund |
| Dec 31, 2015 | $0.012 | DailyAccrualFund |
| Dec 29, 2015 | $0.285 | ExtraDividend |
| Nov 30, 2015 | $0.013 | DailyAccrualFund |
| Oct 30, 2015 | $0.018 | DailyAccrualFund |
| Sep 30, 2015 | $0.021 | DailyAccrualFund |
| Aug 31, 2015 | $0.019 | DailyAccrualFund |
| Jul 31, 2015 | $0.020 | DailyAccrualFund |
| Jun 30, 2015 | $0.019 | DailyAccrualFund |
| May 29, 2015 | $0.016 | DailyAccrualFund |
| Apr 30, 2015 | $0.012 | DailyAccrualFund |
| Mar 31, 2015 | $0.013 | DailyAccrualFund |
| Feb 27, 2015 | $0.011 | DailyAccrualFund |
| Jan 30, 2015 | $0.010 | DailyAccrualFund |
| Dec 31, 2014 | $0.023 | DailyAccrualFund |
| Nov 28, 2014 | $0.013 | DailyAccrualFund |
| Oct 31, 2014 | $0.017 | DailyAccrualFund |
| Sep 30, 2014 | $0.018 | DailyAccrualFund |
| Aug 29, 2014 | $0.021 | DailyAccrualFund |
| Jul 31, 2014 | $0.022 | DailyAccrualFund |
| Jun 30, 2014 | $0.021 | DailyAccrualFund |
| May 30, 2014 | $0.014 | DailyAccrualFund |
| Apr 30, 2014 | $0.017 | DailyAccrualFund |
| Mar 31, 2014 | $0.015 | DailyAccrualFund |
| Feb 28, 2014 | $0.022 | DailyAccrualFund |
| Jan 31, 2014 | $0.023 | DailyAccrualFund |
| Dec 31, 2013 | $0.017 | DailyAccrualFund |
LMAOX - Fund Manager Analysis
Managers
Brian Kloss
Start Date
Tenure
Tenure Rank
Dec 02, 2013
8.5
8.5%
Brian L. Kloss, JD, CPA, is a portfolio manager and head of high yield for Brandywine Global. Brian joined Brandywine Global in December 2009。Previously, Brian was co-portfolio manager at Dreman Value Management, LLC (2007-2009); high yield analyst/trader at Gartmore Global Investments (2002-2007); high yield and equity portfolio manager and general analyst at Penn Capital Management, Ltd. (2000-2002); an analyst with The Concord Advisory Group, Ltd. (1998-2000); and an international tax consultant with Deloitte & Touche LLP (1995-1998).
Tracy Chen
Start Date
Tenure
Tenure Rank
Dec 02, 2013
8.5
8.5%
Tracy Chen, CFA®, CAIA is a portfolio manager and head of Structured Credit for Brandywine Global. She joined the firm in August 2008. Prior to joining Brandywine Global, she was with UBS Investment Bank as director of the fixed income valuation group (2006-2008), GMAC Mortgage Group as a mortgage pricing analyst (2003-2006), Deloitte Consulting as a senior corporate strategy consultant (2001-2003), and J&A Securities Ltd. in Shenzhen, China, as an international corporate finance associate (1995-1999).
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 28.19 | 5.72 | 3.19 |