Legg Mason Western Asset Singapore Bond Fund

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About The Fund

Investment Aim

Seeks to achieve yield enhancement by aiming to outperform the benchmark in Singapore dollar terms via active but prudent management of a portfolio comprising Singapore bonds, cash and cash equivalent instruments.

Performance Benchmark

UOB Singapore Government Bond Index All (S$) w.e.f. 1 October 2006. Prior to 1 October 2006, the benchmark was 70% 3-month SIBID and 30% UOB SGS Index. Benchmark performance is for Class A only.

CPF Investment Scheme

Included under the CPF Investment Scheme (Ordinary and Special Account)

	Class A	Class B
NAV:	SGD 1.592	SGD 1.691
High*:	SGD 1.607	SGD 1.706
Low*:	SGD 1.000	SGD 1.043
*Based on since inception month end prices.

Fund Size:	SGD 108 million
All data are as of 31 December 2011.

About the Investment Strategy

Seeks to achieve a return above the Singapore Dollar fixed deposits over time through investments primarily in domestic fixed income securities and money market instruments, and limited diversification into foreign AAA government bonds.
There is no emphasis or restriction on the kind of debt securities or rating of debt securities in which the fund will invest
The investments are to be made after analysing historic and expected interest rate movements, among other factors, and when necessary, engaging in foreign exchange transactions for purposes of hedging foreign exchange exposure on foreign currency bonds may be engaged

About the Investment Team

Founded in 1971, Western Asset has decades of experience in fixed income investing and is now one of the world's largest managers of fixed income investments. Western Asset follows a team-focused approach comprising groups of specialists dedicated to all the major areas of the fixed income market. Western's expertise also extends across all of the world's major bond markets.

General Fund Literature

Fact Sheet
Fact Sheet (Chinese)
Prospectus
Product Highlight Sheet
Annual Report
Interim Report

This document, prepared by Legg Mason Asset Management Singapore Pte. Limited ("Legg Mason"), is for information only and does not constitute an offer nor solicitation to buy or sell any units of the Fund. The prospectus of the Fund is available and may be obtained from Legg Mason or its authorised distributors. Investors should read the prospectus prior to any subscription. All applications for units in the Fund must be made on the application forms accompanying the prospectus. An investment in the Fund is subject to investment risks, including the possible loss of the principal amount invested. The value of units and the income accruing to the units, if any, may fall or rise and past performance is not necessarily a guide for future performance.

The Fund may invest in derivatives for hedging or efficient portfolio management purposes. Please refer to the prospectus for more information.

The CPF interest rate for the Ordinary Account (OA) is based on the 12-month fixed deposit and month-end savings rates of the major local banks. Under the CPF Act, the Board pays a minimum interest of 2.5% per annum when this interest formula yields a lower rate. The interest rate for the Special and Medisave Accounts (SMA) is pegged to the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1%. The interest rate to be credited to the Retirement Account (RA) will be the weighted average interest of the entire portfolio of Special Government Securities (SSGS) the RA savings are invested in which earn a fixed coupon equal to the 12-month average yield of the 10YSGS plus 1% of the point of issuance. For 2010 and 2011, the minimum interest rate for the SMA and RA is 4.0% per annum. After 31 December 2011, the 2.5% per annum minimum interest rate, as prescribed by the CPF Act, will apply to the SMA and RA. In addition, the CPB Board will pay an extra interest rate of 1% per annum on the first S$60,000 of a CPF member's combined balances, including up to S$20,000 in the OA. The first S$20,000 in the OA and the first S$30,000 in the Special Account may not be invested under the CPFIS.

Investors should note that the applicable interest rates for each of the CPF accounts may be varied by the CPF Board from time to time. Subscriptions using CPF monies shall at all times be subject to inter alia regulations and such directions and requirements imposed by the CPF Board from time to time.

All opinions and estimates in this document constitute Legg Mason's judgement as of this date and are subject to change without notice. Legg Mason, its affiliates, officers or directors, may have an interest in the acquisition or disposal of the securities mentioned herein.

Distribution of this document may be restricted in certain jurisdictions; persons into whose possession this publication comes should inform themselves of and observe such restrictions. This document does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute this document. This Fund is not available to US citizens, residents or greencard holders and may not be available in all jurisdictions.