Legg Mason will rename its Western Asset Global Blue Chip Bond fund, in efforts to better reflect its aim of achieving returns from high quality short dated corporate bonds.
The £20.16m fund's new name will be the Legg Mason Western Asset Short Duration Blue Chip Bond fund. The mandate was launched in 2009 and targets stable returns over a market cycle with low annualised volatility in line with shorter dated A-rated Blue Chip corporate bonds.
Legg Mason said it has seen increased interest in the strategy due to its "stable performance in multiple market environments, focus on investment grade credit and attractive risk/return characteristics vs. its peers".
Commenting on the rebrand, head of UK sales at Legg Mason Global Asset Management Alex Barry said: "The fund is an attractive option for investors seeking high quality credit with a short duration and competitive risk adjusted returns.
"With UK corporate bond yields at record lows, investors should look at a truly global and diversified portfolio in their search for return.
"We are committed to a client-driven product development and have been working with clients to make these changes."
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