Legg Mason Launches Actively Managed Taxable Fixed-Income ETF

Legg Mason launched its first actively managed taxable fixed-income ETF on Thursday, sub-advised by Western Asset Management Company, LLC, a Legg Mason affiliate and globally integrated fixed-income manager.

The Western Asset Total Return ETF (Nasdaq: WBND) seeks to maximize total return consistent with prudent investment management and liquidity needs.

Western Asset Management CEO James W. Hirschmann III said they are excited to launch the first fixed-income ETF in the Legg Mason line up.

“Active managers can invest in a wider universe of securities than the benchmark, trade opportunistically as market conditions change, and provide risk and defensive management,” Hirschmann III said. “This fund seeks to offer investors a core strategy with flexibility to take advantage of various taxable fixed-income maturities and sectors. With our 45-year history of delivering for investors in all market conditions, we believe this fund has potential to deliver attractive total returns.”

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The portfolio managers of the Western Asset Total Return ETF are Kenneth Leech, Mark S. Lindbloom, Julien A. Scholnick, Frederick R. Marki and John L. Bellows. The performance of the fund is benchmarked against the Bloomberg Barclays U.S. Aggregate Index.

The investment team leverages Western Asset Management’s global investment capabilities and strong risk management program, employing an active process that is both top-down and bottom-up to identify attractive investment opportunities. Active management of duration, sector and security selection offers greater flexibility to respond to dynamic market conditions.

For more news in fixed income ETFs, visit our Fixed Income Channel.