LRRSX: QS Strategic Real Return IS

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LRRSX QS Strategic Real Return IS


Profile

LRRSX - Profile

Vitals

  • YTD Return -6.2%
  • 3 Yr Annualized Return -3.7%
  • 5 Yr Annualized Return -2.4%
  • Net Assets $89.6 M
  • Holdings in Top 10 63.0%

52 WEEK LOW AND HIGH

$10.69
$8.33
$11.60

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.17%

SALES FEES

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

BROKERAGE FEES

  • Turnover 44.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000,000
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Tactical Allocation

Distributions

  • YTD Total Return -6.2%
  • 3 Yr Annualized Total Return 0.6%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 1.65%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    QS Strategic Real Return Fund
  • Fund Family Name
    Legg Mason
  • Inception Date
    Dec 15, 2011
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Stephen Lanzendorf

Fund Description

In seeking to meet its investment goal, the fund implements a tactical asset allocation program overseen by the fund's adviser. It may allocate its assets among five investment "sleeves": Inflation-Linked Debt Securities (40%), Global Equity Securities (20%), Commodity-Linked Securities (20%), Exchange-Traded Funds ("ETFs") that invest in Real Estate Investment Trusts ("REITs") (10%), Tactical Strategy (10%). The fund is non-diversified.


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Categories

Performance

LRRSX - Performance

Return Ranking - Trailing

Period LRRSX Return Category Return Low Category Return High Rank in Category (%)
YTD -6.2% -25.0% 44.1% 70.25%
1 Yr -4.0% -24.5% 62.7% 71.34%
3 Yr -3.7%* -12.8% 8.7% 77.08%
5 Yr -2.4%* -11.6% 7.4% 76.72%
10 Yr N/A* -3.5% 2.8% N/A

* Annualized

Return Ranking - Calendar

Period LRRSX Return Category Return Low Category Return High Rank in Category (%)
2019 12.3% -21.7% 26.6% 26.75%
2018 -15.8% -28.0% 0.2% 83.10%
2017 7.7% -11.6% 22.0% 65.44%
2016 1.5% -14.9% 16.0% 75.19%
2015 -13.4% -87.3% -0.8% 86.92%

Total Return Ranking - Trailing

Period LRRSX Return Category Return Low Category Return High Rank in Category (%)
YTD -6.2% -25.0% 44.1% 70.25%
1 Yr -4.0% -24.5% 62.7% 71.34%
3 Yr 0.6%* -11.7% 8.7% 56.94%
5 Yr 1.4%* -11.1% 7.7% 62.93%
10 Yr N/A* -3.5% 5.9% N/A

* Annualized

Total Return Ranking - Calendar

Period LRRSX Return Category Return Low Category Return High Rank in Category (%)
2019 12.3% -21.7% 26.6% 28.03%
2018 -7.8% -28.0% 1.1% 48.59%
2017 12.2% -5.4% 22.0% 49.26%
2016 3.6% -14.9% 19.7% 62.79%
2015 -10.1% -87.3% 1.8% 85.98%

NAV & Total Return History


Holdings

LRRSX - Holdings

Concentration Analysis

LRRSX Category Low Category High LRRSX % Rank
Net Assets 89.6 M 871 K 14.9 B 43.04%
Number of Holdings 339 1 1824 18.00%
Net Assets in Top 10 56.4 M 0 10.3 B 38.67%
Weighting of Top 10 62.97% 0.0% 99.7% 63.64%

Top 10 Holdings

Asset Allocation

Weighting Return Low Return High LRRSX % Rank
Stocks
38.90% -0.01% 75.51% 54.43%
Bonds
34.86% -22.52% 79.22% 52.53%
Other
21.18% -3.81% 67.56% 8.67%
Cash
5.06% -41.15% 100.00% 74.00%
Preferred Stocks
0.00% 0.00% 17.05% 90.67%
Convertible Bonds
0.00% 0.00% 6.22% 94.67%

Stock Sector Breakdown

Weighting Return Low Return High LRRSX % Rank
Real Estate
27.31% 0.00% 34.83% 5.07%
Technology
15.15% 0.00% 54.08% 60.87%
Financial Services
12.47% 0.00% 100.00% 55.07%
Healthcare
12.28% 0.00% 49.66% 64.49%
Consumer Defense
7.19% 0.00% 43.97% 49.28%
Consumer Cyclical
6.92% 0.00% 19.14% 67.39%
Communication Services
6.22% 0.00% 21.73% 70.29%
Industrials
5.94% 0.00% 22.11% 69.57%
Energy
2.42% 0.00% 16.59% 55.80%
Basic Materials
2.23% 0.00% 66.00% 63.04%
Utilities
1.87% 0.00% 95.94% 73.91%

Stock Geographic Breakdown

Weighting Return Low Return High LRRSX % Rank
US
30.10% -0.01% 67.99% 42.00%
Non US
8.80% 0.00% 44.38% 48.00%

Bond Sector Breakdown

Weighting Return Low Return High LRRSX % Rank
Derivative
74.33% 0.00% 74.33% 2.67%
Government
20.72% 0.00% 99.73% 64.67%
Cash & Equivalents
3.28% 0.10% 100.00% 91.33%
Corporate
1.68% 0.00% 96.81% 72.67%
Securitized
0.00% 0.00% 48.69% 93.33%
Municipal
0.00% 0.00% 9.14% 92.00%

Bond Geographic Breakdown

Weighting Return Low Return High LRRSX % Rank
US
32.14% 0.00% 79.22% 50.67%
Non US
2.72% 0.00% 31.02% 66.00%

Expenses

LRRSX - Expenses

Operational Fees

LRRSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.17% 0.00% 5.31% 80.89%
Management Fee 0.75% 0.15% 1.50% 46.50%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 0.70% N/A

Sales Fees

LRRSX 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% 4.00% N/A

Trading Fees

LRRSX 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.

LRRSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 44.00% 2.69% 474.00% 19.86%

Distributions

LRRSX - Distributions

Dividend Yield Analysis

LRRSX Category Low Category High LRRSX % Rank
Dividend Yield 0.00% 0.00% 6.85% 86.71%

Dividend Distribution Analysis

LRRSX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Monthly Monthly

Net Income Ratio Analysis

LRRSX Category Low Category High LRRSX % Rank
Net Income Ratio 1.65% -1.48% 5.27% 29.94%

Capital Gain Distribution Analysis

LRRSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

LRRSX - Fund Manager Analysis

Managers

Stephen Lanzendorf


Start Date

Tenure

Tenure Rank

Jan 26, 2011

9.43

9.4%

Stephen A. Lanzendorf, CFA Portfolio Manager • Member of the Portfolio Management group. • Formerly Deputy Chief Investment Officer and head of the Developed Markets investment team at Batterymarch Financial Management from 2012 to 2014. At Batterymarch, he also served as co-head of the Developed Markets team from 2010 to 2012 and head of the US investment team from 2006 to 2010. Prior to joining Batterymarch, he spent six years as the Director of Quantitative Strategies at Independence Investments, where he also managed the equity trading desk. He was also a Portfolio Manager and Quantitative Analyst at The Colonial Group for 10 years. • Education: BS and MS in Nuclear Engineering from Massachusetts Institute of Technology.

S. Leech


Start Date

Tenure

Tenure Rank

Mar 31, 2014

6.25

6.3%

– Western Asset Management Company, LLC – Chief Investment Officer, 1990– – Greenwich Capital Markets – Portfolio Manager, 1988–1990 – The First Boston Corporation – Fixed Income Manager, 1980–1988 – National Bank of Detroit – Portfolio Manager, 1977–1980 – The Wharton School, University of Pennsylvania, M.B.A., B.S., B.A., summa cum laude, 1972–1976

Thomas Picciochi


Start Date

Tenure

Tenure Rank

May 30, 2014

6.09

6.1%

Tom Picciochi, CAIA Head of Multi-Asset Portfolio Management • Responsible for Multi-Asset portfolio management. • Formerly senior portfolio manager for Deutsche Asset Management’s Quantitative Strategies group, and member of the Global Tactical Asset Allocation Investment Oversight Committee and portfolio manager for Absolute Return Strategies from 1999 to 2010. Prior to joining Deutsche Asset Management, he held various research and analysis positions at State Street Global Advisors, FPL Energy, Barnett Bank, Trade Finance Corporation and Reserve Financial Management over a 13 year period. • Education: BA from University of Miami; MBA from University of Miami.

Joseph Giroux


Start Date

Tenure

Tenure Rank

May 30, 2014

6.09

6.1%

Joseph S. Giroux Portfolio Manager • Member of the Portfolio Management group. • Formerly a developed markets Portfolio Manager at Batterymarch Financial Management from 2012 to 2014. Prior to joining Batterymarch, he managed both US and non-US assets for 5 years at several firms—Golden Capital Management, Wells Capital Management and Evergreen Investments—that were affiliated with or acquired by Wells Fargo. He also served as a Portfolio Manager at TriPoint Asset Management and The Boston Company Asset Management. • Education: BS in Computer Science and MS in Information Technology from New England Institute of Technology.

Frederick Marki


Start Date

Tenure

Tenure Rank

Aug 01, 2016

3.92

3.9%

Frederick R. Marki is a Portfolio manager of Western since 2005. He began his investment career in 1983 and has a BS from the Massachusetts Institute of Technology. Marki joined Western Asset in 2006. Prior to this, Marki was a director of Citigroup Asset Management and investment officer of the manager. and its predecessor companies.

Christopher Floyd


Start Date

Tenure

Tenure Rank

Feb 01, 2019

1.41

1.4%

Christopher W. Floyd, CFA Portfolio Manager • Member of the Portfolio Management group. • Formerly a developed markets Senior Portfolio Manager at Batterymarch Financial Management from 2012 to 2014. At Batterymarch, he also served as a Portfolio Manager from 2003 to 2012 and Quantitative Analyst from 2000 to 2003. Prior to joining Batterymarch, he performed market analysis at Urban & Associates and worked with retirement plans at Bay State Federal Savings Bank. • Education: BA in Economics from Dartmouth College; MBA from Cornell University

Lisa Wang


Start Date

Tenure

Tenure Rank

Aug 30, 2019

0.84

0.8%

Lisa Wang, CFA Portfolio Manager • Member of the Portfolio Management group. • Formerly an ETF market maker and portfolio trader at Deutsche Bank from 2011 to 2014. Prior to obtaining her MBA, she was a research analyst at Gleacher Fund Advisors, a multi-strategy fund of hedge funds from 2006 to 2008. • Education: BA & BS from SUNY Binghamton and MBA from University of Chicago, Booth School of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 29.52 5.31 0.23