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LMZIX BrandywineGLOBAL Global High Yield IS

  • Fund
  • LMZIX
  • Price as of: Sep 19, 2019
  • $8.78 - $0.00 - 0.00%

LMZIX - Profile

Vitals

  • YTD Return 5.9%
  • 3 Yr Annualized Return 0.2%
  • 5 Yr Annualized Return -2.4%
  • Net Assets $35.4 M
  • Holdings in Top 10 21.8%

52 WEEK LOW AND HIGH

$8.78
$8.25
$8.86

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.38%

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

N/A

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Bond

Distributions

  • YTD Total Return 5.9%
  • 3 Yr Annualized Total Return 0.2%
  • 5 Yr Annualized Total Return -1.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.55%
DIVIDENDS
  • Dividend Yield 2.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name BrandywineGLOBAL - Global High Yield Fund
  • Fund Family Name Legg Mason
  • Inception Date Nov 30, 2012
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Brian L. Kloss

Fund Description

Under normal market conditions, the fund will invest at least 80% of its total assets in high yield securities. High yield securities are those rated below investment grade (that is, securities rated below Baa/BBB assigned by at least one Nationally Recognized Statistical Rating Organization ("NRSRO")) or unrated securities determined by the subadviser to be of comparable credit quality; they are commonly known as "junk bonds." The fund's high yield securities may include distressed and defaulted securities. The fund is non-diversified.

LMZIX - Performance

Return Ranking - Trailing

Period LMZIX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.9% 0.0% 22.5% 68.10%
1 Yr -0.7% -5.9% 4.8% 75.60%
3 Yr 0.2%* -3.3% 2.2% 43.48%
5 Yr -2.4%* -12.2% 2.9% 85.71%
10 Yr N/A* -4.5% 2.5% N/A

* Annualized


Return Ranking - Calendar

Period LMZIX Return Category Return Low Category Return High Rank in Category (%)
2018 -10.0% -17.1% -1.8% 92.08%
2017 4.7% -5.7% 4.8% 0.51%
2016 8.1% 1.1% 13.0% 31.48%
2015 -8.7% -17.8% 9.9% 54.21%
2014 -9.7% -45.8% 27.7% 98.75%

Total Return Ranking - Trailing

Period LMZIX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.9% 0.0% 22.5% 70.47%
1 Yr -0.7% -4.8% 7.0% 80.00%
3 Yr 0.2%* -1.4% 5.9% 64.45%
5 Yr -1.7%* -12.2% 4.7% 78.13%
10 Yr N/A* -4.5% 8.2% N/A

* Annualized


Total Return Ranking - Calendar

Period LMZIX Return Category Return Low Category Return High Rank in Category (%)
2018 -10.0% -17.1% 0.4% 94.80%
2017 4.7% -5.1% 8.1% 17.68%
2016 8.1% 1.1% 20.7% 46.83%
2015 -8.7% -17.8% 11.7% 62.36%
2014 -6.5% -45.8% 27.7% 93.10%

NAV & Total Return History

LMZIX - Holdings

Concentration Analysis

LMZIX Category Low Category High LMZIX % Rank
Net Assets 35.4 M 1.01 M 25.6 B 95.52%
Number of Holdings 101 5 1538 92.96%
Net Assets in Top 10 8 M 67 K 2.04 B 86.35%
Weighting of Top 10 21.78% 4.8% 127.9% 7.89%

Top 10 Holdings

  1. CF Industries, Inc. 4.95% 3.08%

  2. Level 3 Parent Llc Term Loan B 2.70%

  3. Sprint Corporation 7.25% 2.32%

  4. Rivers Pittsburgh Borrower, LP/Rivers Pittsburgh Finance Corp. 6.12% 2.08%

  5. Gray Television, Inc. 5.12% 2.04%

  6. ENCOMPASS HEALTH CORPORATION 5.75% 2.04%

  7. Sprint Capital Corporation 6.88% 2.02%

  8. The AES Corporation 4% 1.94%

  9. Allegheny Technologies Incorporated 5.95% 1.80%

  10. Tenet Healthcare Corporation 4.38% 1.76%


Asset Allocation

Weighting Return Low Return High LMZIX % Rank
Bonds
87.11% 80.77% 109.78% 95.95%
Cash
12.89% 0.00% 18.99% 1.28%
Stocks
0.00% -12.26% 7.84% 76.97%
Preferred Stocks
0.00% 0.00% 4.90% 56.29%
Other
0.00% -2.95% 6.84% 43.28%
Convertible Bonds
0.00% 0.00% 4.91% 74.63%

Bond Sector Breakdown

Weighting Return Low Return High LMZIX % Rank
Corporate
84.44% 60.48% 110.34% 95.74%
Cash & Equivalents
12.94% 0.00% 18.98% 1.28%
Derivative
1.22% -3.96% 3.93% 2.35%
Government
1.03% -4.81% 32.38% 5.54%
Securitized
0.36% 0.00% 8.55% 21.96%
Municipal
0.00% 0.00% 2.88% 26.65%

Bond Geographic Breakdown

Weighting Return Low Return High LMZIX % Rank
US
77.40% 69.64% 97.19% 74.41%
Non US
9.71% 0.00% 18.61% 86.57%

LMZIX - Expenses

Operational Fees

LMZIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.38% 0.00% 18.62% 27.98%
Management Fee 0.65% 0.00% 1.35% 75.91%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

LMZIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

LMZIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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.

LMZIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 93.00% 0.34% 1218.00% 86.21%

LMZIX - Distributions

Dividend Yield Analysis

LMZIX Category Low Category High LMZIX % Rank
Dividend Yield 2.78% 0.00% 8.74% 51.17%

Dividend Distribution Analysis

LMZIX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

LMZIX Category Low Category High LMZIX % Rank
Net Income Ratio 4.55% 1.27% 7.22% 76.57%

Capital Gain Distribution Analysis

LMZIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

LMZIX - Managers

Brian L. Kloss

Manager

Start Date

Tenure

Tenure Rank

Nov 30, 2012

6.75

6.8%

Brian is a portfolio manager and head of high yield. Brian joined Brandywine Global in December 2009, bringing with him over 10 years of high yield and distressed debt experience. 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). Brian earned his J


Tracy Chen

Manager

Start Date

Tenure

Tenure Rank

Nov 30, 2012

6.75

6.8%

As a portfolio manager and head of structured credit, Tracy is responsible for conducting credit analysis on mortgage-backed and other structured securities, with special emphasis on collateralized mortgage obligations (CMOs), collateralized loan obligations (CLOs), and other structured products. She also monitors and analyzes the investment merits of global corporate debt issues. 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). Tracy earned an MBA with a concentration in Finance from Kenan-Flagler Business School at the University of North Carolina, an M.A. in American Studies from Sichuan University in Chengdu, China, and a B.A. in English for Scientific Purposes from University of Electronic Science & Technology of China in Chengdu, China. Tracy is a CFA® charterholder and earned the Chartered Alternative Investment Analyst (CAIA) charter in 2010. She was also published in the Spring 2007 edition of The Journal of Structured Finance.


Gerhardt (Gary) P. Herbert

Manager

Start Date

Tenure

Tenure Rank

Nov 30, 2012

6.75

6.8%

Gary is a portfolio manager and head of global credit. Gary joined Brandywine Global in March 2010, bringing with him over 20 years of high yield experience. Previously, Gary was a Managing Director, Portfolio Manager with Guggenheim Partners, LLC (2009-2010); a Managing Director, Portfolio Manager with Dreman Value Management, LLC (2007-2009); and an Executive Director, Portfolio Manager (1999-2007) and Associate (1994-1998) with Morgan Stanley Investment Management. Gary earned his M.B.A. with Honors from Columbia University, and a Bachelor Degree from Villanova University.


Tenure Analysis

Category Low

0.0

Category High

35.04

Category Average

6.32

Category Mode

0.0