Morningstar Fund Report | 02/04/2025

FTGF Western Asset US Core Plus Bond Fund Class A US$ Accumulating

Performance History	31/03/2025

Growth of 1,000 (GBP)	Advanced Graph

	Fund	-1.7	-7.8	0.2	0.2	-0.5
	+/-Cat	-1.1	-8.5	0.8	-3.4	0.3
	+/-B’mrk	-1.0	-5.8	0.8	-3.0	-0.2


Category: USD Diversified Bond
Category Benchmark: Morningstar US Core Bd TR USD

Key Stats
NAV 31/03/2025		USD 150.98
Day Change		0.38%
Morningstar Category™		USD Diversified Bond
ISIN		IE00B19Z7Y58
Fund Size (Mil) 31/03/2025		EUR 228.25
Share Class Size (Mil) 31/03/2025		USD 54.01
Max Initial Charge		5.00%
Ongoing Charge 12/02/2025		1.27%

Morningstar Research

Analyst Report	10/09/2024 Max Curtin, Analyst Morningstar, Inc
Legg Mason Western Asset US Core Plus Bond still benefits from an experienced and capable group of managers, but some of the key supporting sector teams no longer stand out on their own. Risk management practices are another source of concern,...
Click here to read this analyst report on the underlying fund.

Morningstar Pillars
People	24
Parent	23
Process	24
Performance
Price

Investment Objective: FTGF Western Asset US Core Plus Bond Fund Class A US$ Accumulating

The Fund’s investment objective is to maximise total return, consisting of capital appreciation and income. The Fund invests at least 70% of its Net Asset Value in debt securities listed or traded on Regulated Markets in the United States listed in Schedule III of the Base Prospectus that are rated Investment Grade or if unrated deemed by the Investment Manager and Sub-Investment Managers (collectively, “Western Asset”) to be of comparable credit quality, and which are issued by US Issuers.

Returns

Trailing Returns (GBP)	31/03/2025
YTD	-0.50
3 Years Annualised	-0.77
5 Years Annualised	-1.89
10 Years Annualised	2.03

12 Month Yield

0.00

Management

Manager Name Start Date
Julien Scholnick 20/04/2007
Mark Lindbloom 20/04/2007
Click here to see others
Inception Date 20/04/2007

Category Benchmark

Fund Benchmark	Morningstar Benchmark
Bloomberg US Agg Bond TR USD	Morningstar US Core Bd TR USD

Portfolio Profile for FTGF Western Asset US Core Plus Bond Fund Class A US$ Accumulating	28/02/2025

Top 5 Holdings	%
Federal National Mortgage Associ...	3.38
United States Treasury Notes 1.875%	1.61
Federal National Mortgage Associ...	1.54
Federal National Mortgage Associ...	1.39
Towd Point Mortgage Trust 2017-5...	1.10

Fixed Income
Effective Maturity	9.98
Effective Duration	6.33

Morningstar Style Box®

Fixed Income Style

Asset Allocation

	% Long	% Short	% Net Assets
Stock	0.00	0.00	0.00
Bond	95.13	0.41	94.72
Property	0.00	0.00	0.00
Cash	22.58	19.07	3.52
Other	0.15	0.00	0.15

Growth Of 1000 (GBP)

31/03/2025

	Fund: FTGF Western Asset US Core Plus Bond Fund Class A US$ Accumulating
	Category: USD Diversified Bond
	Category Index: Morningstar US Core Bd TR USD

Annual Returns (GBP)						31/03/2025
	2018	2019	2020	2021	2022	2023	2024	31/03
Price Return	3.69	6.96	4.66	-1.66	-7.79	0.19	0.20	-0.50
+/- Category	-1.41	3.41	1.24	-1.10	-8.46	0.78	-3.40	0.32
+/- Category Index	-2.66	2.51	0.48	-0.96	-5.76	0.82	-2.97	-0.22
% Rank in Category	86	5	32	85	97	22	96	-

Trailing Returns (GBP)			31/03/2025
	Total Returns	+/- Category	+/- Category Index
1 Day	0.38	-0.13	-0.11
1 Week	0.46	0.09	-0.19
1 Month	-2.78	-0.43	-0.38
3 Months	-0.50	0.10	-0.22
6 Months	2.25	-1.03	-1.31
YTD	-0.50	0.10	-0.22
1 Year	-0.09	-2.36	-2.81
3 Years Annualised	-0.77	-1.86	-1.95
5 Years Annualised	-1.89	-1.25	-0.66
10 Years Annualised	2.03	-0.51	-0.84

Category: USD Diversified Bond
Category Index: Morningstar US Core Bd TR USD

Quarterly Returns (GBP)				31/03/2025
	Quarter 1	Quarter 2	Quarter 3	Quarter 4
2025	-0.50	-	-	-
2024	-0.21	-0.93	-1.36	2.76
2023	0.35	-3.06	-0.72	3.74
2022	-5.74	0.51	2.63	-5.17
2021	-5.39	2.52	2.21	-0.80
2020	4.29	7.03	-3.42	-2.91

Morningstar Rating™(Relative to Category)

28/02/2025

	Morningstar Return	Morningstar Risk	Morningstar Rating™
3-Year	Low	High
5-Year	Low	High
10-Year	Below Average	High
Overall	Below Average	High

Click here to see our Methodology

Volatility Measurements

31/03/2025


3-Yr Std Dev	5.90 %
3-Yr Mean Return	-0.60 %


3-Yr Sharpe Ratio	-0.77

Modern Portfolio Statistics	31/03/2025	31/03/2025
	Standard Index	Best Fit Index
	Morningstar US Core Bd TR USD	Morningstar US Corp Bd TR USD
3-Yr Beta	1.26	1.04
3-Yr Alpha	-0.78	-2.78

Fixed Income Style

28/02/2025

Morningstar Style Box®

Fixed Income Style

Size	Rel to Cat
Total Market Value (Mil)	USD 248


Maturity Distribution	%
1 to 3	4.38
3 to 5	9.21
5 to 7	10.83
7 to 10	11.67
10 to 15	8.13
15 to 20	6.48
20 to 30	26.90
Over 30	20.64

Effective Maturity	9.98
Effective Duration	6.33

Credit Quality Breakdown	%		%
AAA	50.30	BB	5.13
AA	7.68	B	1.27
A	11.29	Below B	1.28
BBB	17.12	Not Rated	5.93

Category: USD Diversified Bond

Asset Allocation

28/02/2025

	% Long	% Short	% Net Assets
Stock	0.00	0.00	0.00
Bond	95.13	0.41	94.72
Property	0.00	0.00	0.00
Cash	22.58	19.07	3.52
Other	0.15	0.00	0.15

Top 10 Holdings

28/02/2025

	Portfolio NEW
Total Number of Equity Holdings	0
Total Number of Bond Holdings	690
Assets in Top 10 Holdings	14.04

Name	Sector	Country	% of Assets
Federal National Mortgage Association 3%		United States	3.38
United States Treasury Notes 1.875%		United States	1.61
Federal National Mortgage Association...		United States	1.54
Federal National Mortgage Association...		United States	1.39
Towd Point Mortgage Trust 2017-5 6.23...		United States	1.10
Government National Mortgage Associat...		United States	1.09
Federal National Mortgage Association 6%		United States	1.03
Federal National Mortgage Association 2%		United States	1.00
Golub Capital Partners Clo 76 B Ltd./...		United States	0.95
Federal National Mortgage Association 4%		United States	0.95

Increase Decrease New since last portfolio
Category: USD Diversified Bond

Management

Name of Company	Franklin Templeton International Services S.à r.l.
Phone	+352 46 66 67 212
Website	www.franklintempleton.lu
Address	8A, rue Albert Borschette
	Luxembourg L-1246
	Luxembourg

Domicile	Ireland
Legal Structure	Open Ended Investment Company
UCITS	Yes
Inception Date	20/04/2007

Fund Advisor(s)
Western Asset Management Company Limited

Fund Manager	Julien Scholnick
Manager Start Date	20/04/2007



Biography
– Western Asset Management Company, LLC – Portfolio Manager, 2003- – Salomon Smith Barney – Associate, Private Client Group, 2000-2001 – Digital Coast Partners – Senior Analyst, 1999-2000 – Arthur Andersen, LLP – Senior Analyst, 1997-1999 – Cornell University, M.B.A. – University of California, Los Angeles, B.A., magna cum laude – Chartered Financial Analyst

Fund Manager	Mark Lindbloom
Manager Start Date	20/04/2007
Career Start Year	1979

Education

1978, Rider College, B.S.

1981, Pace University, M.B.A.



Biography
Mark S. Lindbloom , is a portfolio manager. Mr. Lindbloom is a Portfolio Manager at Western Asset and Western Asset Limited. Prior to joining the Firm in 2005, he worked as a portfolio manager at Citigroup Asset Management and Brown Brothers Harriman & Co. He worked in New York Life Ins. as ananlyst from 1978-1980. He hold M.B.A. from Pace University, B.S. from Rider University.

Fund Manager	Michael Buchanan
Manager Start Date	01/03/2024
Career Start Year	1990

Education

Brown University, B.A.



Biography
Michael Buchanan is Western Asset's deputy chief investment officer and has been in the fixed-income industry since 1990. As Deputy CIO, Michael has direct oversight of Western Asset's Global Credit Team, which covers US and non-US investment-grade, high-yield and bank loan sectors. He also leads the Global Credit Committee, which ultimately determines overall firmwide credit themes. Prior to joining Western Asset in 2005, Michael served as Managing Director and Head of US Credit Products at Credit Suisse Asset Management and as Executive Vice President and Portfolio Manager at Janus Capital Management. He also worked at BlackRock Financial Management as Managing Director and Portfolio Manager and at Conseco Capital Management as Vice President and Portfolio Manager. Michael graduated with honors from Brown University. He holds a Bachelor of Arts in Economics, and is a CFA charterholder

Fund Manager	Frederick Marki
Manager Start Date	20/04/2007
Career Start Year	1983

Education

Massachusetts Institute of Technology, B.S.



Biography
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.

Fees and Expenses

Sales Charges (Maximum)
Max Initial Charge	5.00%
Max Exit Charge*	n/a

Annual Charges
Max Annual Management Charge	1.00%
Ongoing Charge	1.27%

Purchase Details

Minimum Investments
Initial	1000 USD
Additional	-
Savings	-

Tax Free Savings Schemes
ISAs	Yes