Western Asset Global Bond Fund Class B 43177 Strategy

The investment process applies an active, team-managed strategy that employs a long term, value-oriented approach to identify inefficiencies and subsequent mispricing opportunities in the global fixed income market. The Fund seeks to add value through duration management, yield curve selection, sector allocation, issue selection, country and currency allocation. Portfolio risk is controlled through market and sector diversification, position limits, duration guidelines and active hedging of currency exposures.