BrandywineGLOBAL Global Unconst Bond C1
Name
As of 08/20/2021Price
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
-2.0%
1 yr return
4.9%
3 Yr Avg Return
2.3%
5 Yr Avg Return
2.6%
Net Assets
$755 M
Holdings in Top 10
53.7%
52 WEEK LOW AND HIGH
$12.2
$11.67
$12.60
Expenses
OPERATING FEES
Expense Ratio 1.64%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 107.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 08/20/2021Price
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
LROCX - Profile
Distributions
- YTD Total Return -2.0%
- 3 Yr Annualized Total Return 2.3%
- 5 Yr Annualized Total Return 2.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.44%
- Dividend Yield 0.7%
- Dividend Distribution Frequency Quarterly
Fund Details
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Legal NameBrandywineGLOBAL - Global Unconstrained Bond Fund
-
Fund Family NameFranklin Templeton Investments
-
Inception DateFeb 28, 2011
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUnited States
Fund Description
Under normal market conditions, the fund seeks to meet its investment objective through strategic investments in domestic and foreign fixed income securities, currencies and derivatives. The fund will initiate long and short exposures by investing across bond sectors, including sovereign debt and corporate bonds; currencies; and derivative instruments. Short exposure will be established primarily through the use of derivatives, including currency forwards, interest rate swaps and futures. The fund is “unconstrained” in that the portfolio managers do not attempt to keep the portfolio structure or the fund’s performance consistent with any designated stock, bond or market index.
The fund normally invests at least 80% of its net assets, plus the amount of borrowings for investment purposes, if any, in fixed income securities or other instruments with similar economic characteristics. Fixed income securities in which the fund may invest are debt securities issued or guaranteed by national governments, their agencies or instrumentalities and political sub-divisions (including inflation index linked securities and municipal bonds); debt securities of supranational organizations such as bonds, debentures and freely transferable promissory notes; corporate debt securities, including debentures, bonds (including zero coupon bonds), convertible and non-convertible notes, commercial paper, certificates of deposits, freely transferable promissory notes and bankers acceptances issued by industrial, utility, finance, commercial banking or bank holding company organizations; mortgage-backed securities (including collateralized debt obligations); asset-backed securities; emerging markets debt; and high yield debt (often called “junk bonds”).
While the fund may invest in securities of any rating level, or unrated securities, the portfolio managers intend to maintain an average weighted portfolio quality of A- or better, whether composed of rated securities or unrated securities deemed by the subadviser to be of comparable quality. The fund will invest in both investment grade and below investment grade securities and currencies of developed and emerging countries. Fixed income securities rated below investment grade are commonly known as “junk” bonds. Investment grade securities are securities rated at the time of
purchase by at least one nationally recognized statistical ratings organization (“NRSRO”) within one of the top four categories (without regard to +/- designations), or, if unrated, judged by the subadviser to be of comparable credit quality.
The fund typically has significant exposure to foreign currencies and foreign countries. As a global fund, under normal market conditions, the fund will invest in or have exposure to at least three countries, which may include the United States. The fund considers an investment to be tied economically to a country if the issuer: (i) has a class of securities whose principal securities market is in the country; (ii) is organized under the laws of, or has a principal office in, the country, (iii) derives 50% or more of its total revenue or profit from goods produced, sales made or services provided in the country, or (iv) maintains 50% or more of its assets in the country. The fund may invest a significant portion of its assets in a particular geographic region or country, including emerging market countries. Normally, the fund will not invest more than 20% of the fund’s assets in securities or issuers in any one foreign country, other than the United States, Canada, the United Kingdom, Japan, Australia and member countries of the European Union, or denominated in any one currency, other than the U.S. dollar, the Canadian dollar, the pound, the euro, the Australian dollar or the yen.
The fund may invest in securities of any maturity. The weighted average effective duration of the fund’s portfolio, including derivatives, is expected to range from -5 to +8 years. The fund may have a negative weighted average effective duration due to holding certain instruments that have negative effective duration, such as through the use of derivative instruments.
The fund achieves certain investment exposures, including short positions, primarily through derivative transactions, including foreign currency forwards, bond futures, interest rate futures, swaps (including interest rate, total return and inflation swaps), credit default swaps, credit default swap index products, instruments involved in currency risk management strategies, including cross hedges, options and options on futures and warrants. The fund may use derivatives in an effort to enhance total return, to hedge against fluctuations in securities prices, interest rates or currency exchange rates, to change the effective duration of its portfolio, to manage certain investment risks and/or as a substitute for the purchase or sale of securities or currencies. These instruments are taken into account when determining compliance with the fund’s 80% policy. The fund’s use of derivatives may be extensive. However, the notional principal of the fund’s aggregate net short currency exposure will not be greater than 70% of the fund’s total assets. For example, if the fund holds 5% of its assets in euro-denominated securities, and the fund sells euros and buys U.S. dollars through a currency forward contract for 10% of its assets, the fund will have a net short euro position of 5% of the fund’s total assets.
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.
LROCX - Performance
Return Ranking - Trailing
Period | LROCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.0% | -19.6% | 17.7% | 15.29% |
1 Yr | 4.9% | -17.2% | 23.1% | 3.91% |
3 Yr | 2.3%* | -10.9% | 14.4% | 59.97% |
5 Yr | 2.6%* | -15.0% | 10.3% | 54.78% |
10 Yr | 2.7%* | -12.3% | 12.5% | 64.67% |
* Annualized
Return Ranking - Calendar
Period | LROCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.0% | -26.6% | 25.7% | 1.54% |
2022 | 4.6% | -49.2% | 314.3% | 19.39% |
2021 | -6.4% | -35.1% | 16.7% | 99.67% |
2020 | 3.4% | -48.0% | 10.9% | 0.72% |
2019 | 3.6% | -14.8% | 11.2% | 17.81% |
Total Return Ranking - Trailing
Period | LROCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.0% | -20.5% | 28.5% | 15.29% |
1 Yr | 4.9% | -17.2% | 38.5% | 4.87% |
3 Yr | 2.3%* | -12.6% | 14.4% | 55.14% |
5 Yr | 2.6%* | -16.0% | 10.3% | 49.92% |
10 Yr | 2.7%* | -12.9% | 12.5% | 62.57% |
* Annualized
Total Return Ranking - Calendar
Period | LROCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.0% | -26.6% | 25.7% | 1.54% |
2022 | 4.6% | -49.2% | 314.3% | 19.39% |
2021 | -4.1% | -35.1% | 16.7% | 98.52% |
2020 | 6.5% | -48.0% | 10.9% | 1.62% |
2019 | 3.6% | -14.8% | 15.2% | 41.88% |
NAV & Total Return History
LROCX - Holdings
Concentration Analysis
LROCX | Category Low | Category High | LROCX % Rank | |
---|---|---|---|---|
Net Assets | 755 M | 100 | 133 B | 48.53% |
Number of Holdings | 126 | 2 | 8096 | 75.85% |
Net Assets in Top 10 | 406 M | -12.7 B | 15.3 B | 25.33% |
Weighting of Top 10 | 53.73% | 4.3% | 100.0% | 18.76% |
Top 10 Holdings
- United States Treasury Notes 0.1% 20.29%
- South Africa (Republic of) 8.75% 5.11%
- United States Treasury Notes 0.11% 4.91%
- Secretaria Tesouro Nacional 10% 4.27%
- Mexico (United Mexican States) 8% 3.74%
- Colombia (Republic of) 6% 3.65%
- United States Treasury Notes 0.25% 3.45%
- United States Treasury Notes 0.11% 3.24%
- Citibank, N.A. 0.56% 3.01%
- United States Treasury Notes 0.16% 2.88%
Asset Allocation
Weighting | Return Low | Return High | LROCX % Rank | |
---|---|---|---|---|
Bonds | 89.57% | -150.81% | 272.05% | 41.64% |
Convertible Bonds | 6.92% | 0.00% | 33.50% | 9.40% |
Cash | 2.98% | -201.18% | 258.91% | 69.71% |
Stocks | 0.54% | -13.04% | 257.52% | 38.25% |
Preferred Stocks | 0.00% | 0.00% | 31.29% | 71.67% |
Other | 0.00% | -25.82% | 276.99% | 54.18% |
Bond Sector Breakdown
Weighting | Return Low | Return High | LROCX % Rank | |
---|---|---|---|---|
Derivative | 57.30% | 0.00% | 72.98% | 1.57% |
Government | 27.65% | 0.00% | 99.55% | 20.29% |
Corporate | 8.82% | 0.00% | 100.00% | 85.47% |
Securitized | 5.02% | 0.00% | 97.82% | 73.56% |
Cash & Equivalents | 1.21% | 0.00% | 100.00% | 92.80% |
Municipal | 0.00% | 0.00% | 54.95% | 62.17% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | LROCX % Rank | |
---|---|---|---|---|
US | 56.08% | -151.11% | 369.35% | 63.84% |
Non US | 33.49% | -313.67% | 121.47% | 24.67% |
LROCX - Expenses
Operational Fees
LROCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.64% | 0.02% | 6.46% | 26.81% |
Management Fee | 0.65% | 0.00% | 2.29% | 60.50% |
12b-1 Fee | 0.75% | 0.00% | 1.00% | 74.94% |
Administrative Fee | N/A | 0.01% | 0.70% | N/A |
Sales Fees
LROCX 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% | 5.50% | N/A |
Trading Fees
LROCX 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.
LROCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 107.00% | 0.00% | 496.00% | 65.34% |
LROCX - Distributions
Dividend Yield Analysis
LROCX | Category Low | Category High | LROCX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.69% | 0.00% | 3.06% | 44.32% |
Dividend Distribution Analysis
LROCX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
LROCX | Category Low | Category High | LROCX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.44% | -1.55% | 11.51% | 88.34% |
Capital Gain Distribution Analysis
LROCX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 20, 2018 | $0.033 | |
Sep 27, 2018 | $0.081 | |
Jun 28, 2018 | $0.117 | |
Mar 28, 2018 | $0.085 | |
Sep 29, 2017 | $0.053 | |
Jun 30, 2017 | $0.032 | |
Mar 31, 2017 | $0.017 | |
Sep 30, 2015 | $0.038 | |
Jun 30, 2015 | $0.039 | |
Mar 31, 2015 | $0.040 | |
Dec 23, 2014 | $0.179 | |
Sep 30, 2014 | $0.084 | |
Mar 31, 2014 | $0.020 | |
Feb 28, 2014 | $0.019 | |
Jan 31, 2014 | $0.019 | |
Dec 31, 2013 | $0.019 | |
Nov 29, 2013 | $0.020 | |
Oct 31, 2013 | $0.020 | |
Sep 30, 2013 | $0.016 | |
Aug 30, 2013 | $0.018 | |
Jul 31, 2013 | $0.015 | |
Jun 28, 2013 | $0.010 | |
May 31, 2013 | $0.016 | |
Apr 30, 2013 | $0.014 | |
Mar 28, 2013 | $0.011 | |
Feb 28, 2013 | $0.016 | |
Jan 31, 2013 | $0.024 | |
Dec 31, 2012 | $0.028 | |
Nov 30, 2012 | $0.029 | |
Oct 31, 2012 | $0.028 | |
Sep 28, 2012 | $0.017 | |
Aug 31, 2012 | $0.020 | |
Jul 31, 2012 | $0.021 | |
Jun 29, 2012 | $0.020 | |
May 31, 2012 | $0.016 | |
Apr 30, 2012 | $0.015 | |
Mar 30, 2012 | $0.017 | |
Feb 29, 2012 | $0.017 | |
Jan 31, 2012 | $0.014 | |
Dec 30, 2011 | $0.017 | |
Nov 30, 2011 | $0.013 | |
Oct 31, 2011 | $0.010 | |
Sep 30, 2011 | $0.012 | |
Aug 31, 2011 | $0.015 | |
Jul 29, 2011 | $0.013 | |
Jun 30, 2011 | $0.014 | |
May 31, 2011 | $0.016 | |
Apr 29, 2011 | $0.019 | |
Mar 31, 2011 | $0.011 |