Legg Mason Global Asset Management has launched a Dublin-domiciled senior loans fund through its largest subsidiary Western Asset Management.
The fund will be managed by Western Asset’s portfolio manager TJ Settel and will be structured as an open-ended Qualifying Investor Fund (QIF), targeting professional investors. The Legg Mason Western Asset Senior Loan fund will invest in the global senior loans market with a specific focus on the US, where the market is particularly liquid. Currently the asset class is worth around $600bn. Fixed income investors are increasingly turning to alternative vehicles to protect their portfolios from future rises in interest rates. As floating rate products, loans offer protection from in...
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