Morningstar Fund Report | 07/04/2025

FTGF Western Asset US Core Bond Fund Class B US$ Accumulating

Performance History	31/03/2018

Growth of 1,000 (GBP)	Advanced Graph

	Fund	13.9	5.7	21.9	-5.1	-5.5
	+/-Cat	3.0	0.6	0.0	0.4	-
	+/-B’mrk	1.6	-0.8	-0.4	0.5	-


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

Key Stats
NAV 24/04/2018		USD 125.05
Day Change		-0.19%
Morningstar Category™		USD Diversified Bond
ISIN		IE00B23Z6W95
Fund Size (Mil) 04/04/2025		USD 94.07
Share Class Size (Mil) 24/04/2018		USD 0.24
Max Initial Charge		-
Ongoing Charge 12/02/2025		1.35%

Morningstar Research

Analyst Report	10/09/2024 Max Curtin, Analyst Morningstar, Inc
Legg Mason Western Asset US Core Bond still benefits from an experienced and capable group of managers, but some of the key supporting sector teams no longer stand out in their own right. 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 Bond Fund Class B US$ Accumulating

The Fund’s investment objective is to maximise total return through income and capital appreciation. The Fund invests at least 75% of its Net Asset Value in debt securities that are (i) listed or traded on Regulated Markets located in Developed Countries and Emerging Market Countries; (ii) denominated in US Dollars and (iii) rated at the time of purchase at least BBB by S&P or the equivalent by another NRSRO or, if not rated, deemed by the Investment Manager and Sub-Investment Manager to be of comparable quality.

Returns

Trailing Returns (GBP)	24/04/2018
YTD	-6.20
3 Years Annualised	3.13
5 Years Annualised	3.09
10 Years Annualised	6.19

12 Month Yield

0.00

Management

Manager Name Start Date
Julien Scholnick 30/08/2002
Mark Lindbloom 30/08/2002
Click here to see others
Inception Date 15/11/2007

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 Bond Fund Class B US$ Accumulating	28/02/2025

Top 5 Holdings	%
Western Asset USD Liquidity WA Dis	4.01
United States Treasury Bonds 2%	2.02
United States Treasury Bonds 3%	1.54
United States Treasury Notes 1.875%	1.50
Federal National Mortgage Associ...	0.91

Fixed Income
Effective Maturity	10.33
Effective Duration	6.33

Morningstar Style Box®

Fixed Income Style

Asset Allocation

	% Long	% Short	% Net Assets
Stock	0.00	0.00	0.00
Bond	96.32	0.44	95.88
Property	0.00	0.00	0.00
Cash	5.02	2.33	2.68
Other	0.00	0.07	-0.07

Growth Of 1000 (GBP)

31/03/2018

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

Annual Returns (GBP)						31/03/2018
	2011	2012	2013	2014	2015	2016	2017	31/03
Price Return	6.84	1.86	-4.43	13.86	5.66	21.94	-5.05	-5.53
+/- Category	0.98	0.70	-0.49	3.00	0.56	0.04	0.36	-
+/- Category Index	-1.41	2.19	-0.66	1.61	-0.78	-0.38	0.50	-
% Rank in Category	44	35	65	6	48	48	32	91

Trailing Returns (GBP)			24/04/2018
	Total Returns	+/- Category	+/- Category Index
1 Day	-0.19	-2.06	-2.06
1 Week	1.31	0.20	0.21
1 Month	0.76	1.84	1.56
3 Months	-0.37	0.65	0.13
6 Months	-8.41	-10.58	-11.30
YTD	-6.20	-6.14	-6.52
1 Year	-9.52	-13.19	-13.63
3 Years Annualised	3.13	1.98	1.76
5 Years Annualised	3.09	4.05	4.49
10 Years Annualised	6.19	3.71	3.28

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

Quarterly Returns (GBP)				31/03/2018
	Quarter 1	Quarter 2	Quarter 3	Quarter 4
2018	-5.53	-	-	-
2017	-0.17	-2.38	-2.23	-0.35
2016	5.38	9.80	3.46	1.86
2015	6.63	-7.66	4.37	2.81
2014	1.87	0.06	5.77	5.61
2013	6.87	-2.98	-6.01	-1.93

Morningstar Rating™(Relative to Category)

	Morningstar Return	Morningstar Risk	Morningstar Rating™
3-Year	-	-	Not Rated
5-Year	-	-	Not Rated
10-Year	-	-	Not Rated
Overall	-	-	Not Rated

Click here to see our Methodology

Volatility Measurements

31/03/2018


3-Yr Std Dev	10.92 %
3-Yr Mean Return	3.30 %


3-Yr Sharpe Ratio	0.27

Modern Portfolio Statistics	31/03/2018	31/03/2018
	Standard Index	Best Fit Index
	Morningstar US Core Bd TR USD	Morningstar US Core Bd TR USD
3-Yr Beta	1.07	1.07
3-Yr Alpha	-0.40	-0.40

Fixed Income Style

28/02/2025

Morningstar Style Box®

Fixed Income Style

Size	Rel to Cat
Total Market Value (Mil)	USD 97


Maturity Distribution	%
1 to 3	2.06
3 to 5	6.91
5 to 7	8.21
7 to 10	12.38
10 to 15	9.05
15 to 20	9.01
20 to 30	40.49
Over 30	10.90

Effective Maturity	10.33
Effective Duration	6.33

Credit Quality Breakdown	%		%
AAA	61.66	BB	0.31
AA	7.16	B	0.00
A	14.41	Below B	0.00
BBB	16.16	Not Rated	0.29

Category: USD Diversified Bond

Asset Allocation

28/02/2025

	% Long	% Short	% Net Assets
Stock	0.00	0.00	0.00
Bond	96.32	0.44	95.88
Property	0.00	0.00	0.00
Cash	5.02	2.33	2.68
Other	0.00	0.07	-0.07

Top 10 Holdings

28/02/2025

	Portfolio NEW
Total Number of Equity Holdings	0
Total Number of Bond Holdings	792
Assets in Top 10 Holdings	14.24

Name	Sector	Country	% of Assets
Western Asset USD Liquidity WA Dis		Ireland	4.01
United States Treasury Bonds 2%		United States	2.02
United States Treasury Bonds 3%		United States	1.54
United States Treasury Notes 1.875%		United States	1.50
Federal National Mortgage Association 2%		United States	0.91
Fnma Pass-Thru I 3.5%		United States	0.90
BHMS Mortgage Trust 5.85886%		United States	0.90
CSMC Trust 3.57814%		United States	0.85
Government National Mortgage Associat...		United States	0.82
Fnma Pass-Thru I 5.5%		United States	0.78

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	15/11/2007

Fund Advisor(s)
Western Asset Management Company Limited

Fund Manager	Julien Scholnick
Manager Start Date	30/08/2002



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	30/08/2002
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	30/08/2002
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	n/a
Max Exit Charge*	5.00%

Annual Charges
Max Annual Management Charge	1.05%
Ongoing Charge	1.35%

Purchase Details

Minimum Investments
Initial	1000 USD
Additional	-
Savings	-

Tax Free Savings Schemes
ISAs	Yes