About WAUAX
Western Asset Total Return Unconstrained Fund Class A is an actively managed open-end mutual fund focused on fixed income. Its primary objective is to maximize total return through a flexible, benchmark-agnostic approach that allocates across global bond sectors and utilizes derivatives for both hedging and opportunistic positioning. The strategy emphasizes diversified exposure to interest-rate and credit risk, with material allocations to agency mortgage‑backed securities and U.S. Treasuries, complemented by segments such as CMBS, CLOs, asset-backed securities, and select emerging markets debt. Portfolio construction targets controlled duration and spread risk, allowing managers to adjust interest-rate sensitivity and sector mix as market conditions evolve. The fund typically maintains a substantial share of investment‑grade holdings while retaining latitude to include high-yield and non‑U.S. exposures to enhance total return. Managed by Western Asset, a specialist fixed-income affiliate within Franklin Templeton, the fund serves investors seeking a diversified, unconstrained bond strategy designed to navigate varying rate and credit cycles without reliance on a traditional benchmark.
Fund Family Franklin Templeton Investments
Category Nontraditional Bond
Performance Rating Below Average
Risk Rating Above Average
Stock Exchange NASDAQ
Ticker Symbol WAUAX
Share Class Class A
Index ICE BofA U.S. T-Bills 0-3 Months TR
WAUAX had a total return of 2.32% in the past year, including dividends. Since the fund's
inception, the average annual return has been 1.99%.
