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Trending ETFs

BrandywineGLOBAL - Alternative Credit Fund

mutual fund
LMAOX
Payout Change
Pending
Price as of:
$8.66 -0.02 -0.23%
primary theme
Bond Sector Diversified
share class
C (LMAQX) I (LMAMX) A (LMAPX) I (LMANX) F (LMAOX)
LMAOX (Mutual Fund)

BrandywineGLOBAL - Alternative Credit Fund

Payout Change
Pending
Price as of:
$8.66 -0.02 -0.23%
primary theme
Bond Sector Diversified
share class
C (LMAQX) I (LMAMX) A (LMAPX) I (LMANX) F (LMAOX)
LMAOX (Mutual Fund)

BrandywineGLOBAL - Alternative Credit Fund

Payout Change
Pending
Price as of:
$8.66 -0.02 -0.23%
primary theme
Bond Sector Diversified
share class
C (LMAQX) I (LMAMX) A (LMAPX) I (LMANX) F (LMAOX)

Name

As of 12/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

BrandywineGLOBAL - Alternative Credit Fund

LMAOX | Fund

$8.66

$30 M

18.41%

$1.59

1.85%

Vitals

YTD Return

5.2%

1 yr return

5.6%

3 Yr Avg Return

-0.2%

5 Yr Avg Return

1.0%

Net Assets

$30 M

Holdings in Top 10

35.9%

52 WEEK LOW AND HIGH

$8.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.85%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 187.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

BrandywineGLOBAL - Alternative Credit Fund

LMAOX | Fund

$8.66

$30 M

18.41%

$1.59

1.85%

LMAOX - Profile

Distributions

  • YTD Total Return 5.2%
  • 3 Yr Annualized Total Return -0.2%
  • 5 Yr Annualized Total Return 1.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.78%
DIVIDENDS
  • Dividend Yield 18.4%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    BrandywineGLOBAL - Alternative Credit Fund
  • Fund Family Name
    FRANKLIN TEMPLETON
  • Inception Date
    Dec 02, 2013
  • Shares Outstanding
    N/A
  • Share Class
    F
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Brian Kloss

Fund Description

Under normal circumstances, the fund seeks to achieve its investment objective by taking a flexible, long and short global credit approach. The fund will rotate amongst the global credit opportunities (long or short) that the subadviser finds most attractive and navigate the credit quality spectrum throughout the different phases of the business cycle. The fund also has the flexibility to hedge or increase exposure to certain risks based on the subadviser’s macroeconomic views. The fund expects to trade actively.
The fund may invest in securities, derivatives and other financial instruments of issuers located anywhere in the world. The fund may focus a significant portion of its investments in a single country or currency and may change a country or currency focus at any time based on the opportunities the subadviser finds most attractive. In selecting investment opportunities, the subadviser may consider whether the security is denominated in a currency that the subadviser expects to appreciate versus the U.S. dollar.
The fund may hold debt securities of any credit quality, whether rated or unrated. As a general guideline, the fund over the long term normally aims to average at least 50% of its total assets in high yield securities (commonly known as “junk bonds”); however this allocation may range from 0%-100% at any time. High yield bonds are those rated below investment grade (that is, securities rated below the Baa/BBB categories by at least one Nationally Recognized Statistical Rating Organization) or, if unrated, determined by the subadviser to be of comparable credit quality. The fund’s investments may be rated either below investment grade or investment grade and may include, but are not limited to: corporate bonds; sovereign or government debt securities, including U.S. municipal securities; debt of supranational agencies; convertible securities; agency and non-agency mortgage-backed securities; asset-backed securities; bank loans; common and preferred stock; and currencies.
The fund may invest a significant portion of its investments in certain types of investments, including agency and non-agency mortgage-backed securities. The fund may invest in stripped mortgage-backed securities and other stripped securities. The fund may enter into dollar rolls (sometimes referred to as mortgage dollar rolls).
The fund may hold instruments of any maturity or duration, and the securities may have fixed, floating or variable rates of interest. The maturity of a fixed income security is a measure of the time remaining until the final payment on the security is due. The weighted average effective duration of the fund’s portfolio, including derivatives, is expected to range from -10 to 10 years. Duration is a measure of the underlying portfolio’s price sensitivity to changes in prevailing interest rates.
The fund may invest in the equities of issuers of any market capitalization. It will not invest more than 20% of its total assets in equity securities. The fund may also enter into various derivative transactions for both hedging and non-hedging purposes, including as a substitute for buying or selling securities, for purposes of enhancing returns, which transactions may be regarded as speculative. These derivative transactions include, but are not limited to, forwards, futures, options, swaps, credit default swaps and commodity-linked investments. Further, the fund may establish short positions, mainly through, but not limited to derivatives, to a substantial degree. Derivatives will not be used in a way that would cause the fund to violate the guidelines stated in this section, but there are no other percentage limits on the use of derivatives. The fund may use one or more types of these instruments without limit.
The fund will not be leveraged through borrowing. However, certain types of derivatives have a leverage-like effect on the portfolio, in that they require a relatively small premium or margin payment in relation to the size of the investment exposure the fund acquires.
The fund is classified as “non-diversified,” which means it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.
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LMAOX - Performance

Return Ranking - Trailing

Period LMAOX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.2% -14.3% 18.7% 59.44%
1 Yr 5.6% -13.8% 19.7% 53.10%
3 Yr -0.2%* -17.0% 13.3% 79.05%
5 Yr 1.0%* -15.1% 13.1% 71.79%
10 Yr 1.7%* -7.0% 6.9% 80.16%

* Annualized

Return Ranking - Calendar

Period LMAOX Return Category Return Low Category Return High Rank in Category (%)
2023 -6.7% -12.0% 8.9% 97.68%
2022 -4.7% -31.8% 18.4% 6.66%
2021 0.8% -16.2% 25.7% 13.77%
2020 -3.2% -31.1% 18.7% 83.42%
2019 3.0% -6.1% 15.3% 72.83%

Total Return Ranking - Trailing

Period LMAOX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.2% -14.3% 18.7% 59.44%
1 Yr 5.6% -13.8% 19.7% 53.10%
3 Yr -0.2%* -17.0% 13.3% 79.05%
5 Yr 1.0%* -15.1% 13.1% 71.79%
10 Yr 1.7%* -7.0% 6.9% 80.16%

* Annualized

Total Return Ranking - Calendar

Period LMAOX Return Category Return Low Category Return High Rank in Category (%)
2023 -3.2% -6.9% 22.2% 98.30%
2022 -2.6% -31.8% 21.1% 14.58%
2021 4.6% -13.5% 49.9% 14.59%
2020 0.9% -28.6% 24.1% 82.35%
2019 6.2% -4.8% 19.1% 76.49%

NAV & Total Return History

LMAOX - Holdings

Concentration Analysis

LMAOX Category Low Category High LMAOX % Rank
Net Assets 30 M 2.63 M 143 B 96.82%
Number of Holdings 69 4 9638 83.62%
Net Assets in Top 10 10.8 M -204 M 89.4 B 87.99%
Weighting of Top 10 35.88% 5.8% 265.8% 44.81%

Top 10 Holdings

  1. United States Treasury Floating Rate Note 6.83%
  2. Egypt Treasury Bills 4.26%
  3. Egypt Treasury Bills 4.11%
  4. Connecticut Avenue Securities Trust 2019-R03 3.88%
  5. NEW FORTRESS ENERGY INC 3.53%
  6. Connecticut Avenue Securities Trust 2019-R04 2.87%
  7. Freddie Mac REMICS 2.79%
  8. Freddie Mac STACR REMIC Trust 2022-DNA2 2.62%
  9. AmeriTex HoldCo Intermediate LLC 2.53%
  10. Fideicomiso Irrevocable de Administracion y Fuente de Pago Numero CIB/4323 2.47%

Asset Allocation

Weighting Return Low Return High LMAOX % Rank
Bonds 		93.25% 0.00% 199.60% 25.27%
Cash 		5.23% -94.66% 99.97% 56.01%
Other 		1.53% -75.22% 147.15% 92.67%
Convertible Bonds 		1.44% 0.00% 33.50% 46.96%
Stocks 		0.00% -6.18% 99.68% 90.02%
Preferred Stocks 		0.00% 0.00% 21.58% 82.68%

Bond Sector Breakdown

Weighting Return Low Return High LMAOX % Rank
Securitized 		52.01% 0.00% 99.65% 15.62%
Corporate 		9.35% 0.00% 96.66% 81.16%
Government 		1.50% 0.00% 99.43% 80.19%
Cash & Equivalents 		0.98% 0.00% 94.89% 61.97%
Municipal 		0.00% 0.00% 54.26% 80.35%
Derivative 		-0.59% -75.22% 147.15% 88.89%

Bond Geographic Breakdown

Weighting Return Low Return High LMAOX % Rank
US 		84.88% 0.00% 199.60% 28.24%
Non US 		8.37% 0.00% 74.14% 38.53%

LMAOX - Expenses

Operational Fees

LMAOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.85% 0.03% 34.13% 21.62%
Management Fee 1.15% 0.00% 2.29% 89.01%
12b-1 Fee 0.25% 0.00% 1.00% 45.80%
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

LMAOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 1.50% N/A

Trading Fees

LMAOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

LMAOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 187.00% 0.00% 632.00% 88.87%

LMAOX - Distributions

Dividend Yield Analysis

LMAOX Category Low Category High LMAOX % Rank
Dividend Yield 18.41% 0.00% 23.30% 56.26%

Dividend Distribution Analysis

LMAOX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Monthly Monthly

Net Income Ratio Analysis

LMAOX Category Low Category High LMAOX % Rank
Net Income Ratio 2.78% -1.55% 11.51% 56.58%

Capital Gain Distribution Analysis

LMAOX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

LMAOX - Fund Manager Analysis

Managers

Brian Kloss

Start Date

Tenure

Tenure Rank

Dec 02, 2013

8.5

8.5%

Brian L. Kloss, JD, CPA, is a portfolio manager and head of high yield for Brandywine Global. Brian joined Brandywine Global in December 2009。Previously, Brian was co-portfolio manager at Dreman Value Management, LLC (2007-2009); high yield analyst/trader at Gartmore Global Investments (2002-2007); high yield and equity portfolio manager and general analyst at Penn Capital Management, Ltd. (2000-2002); an analyst with The Concord Advisory Group, Ltd. (1998-2000); and an international tax consultant with Deloitte & Touche LLP (1995-1998).

Tracy Chen

Start Date

Tenure

Tenure Rank

Dec 02, 2013

8.5

8.5%

Tracy Chen, CFA®, CAIA is a portfolio manager and head of Structured Credit for Brandywine Global. She joined the firm in August 2008. Prior to joining Brandywine Global, she was with UBS Investment Bank as director of the fixed income valuation group (2006-2008), GMAC Mortgage Group as a mortgage pricing analyst (2003-2006), Deloitte Consulting as a senior corporate strategy consultant (2001-2003), and J&A Securities Ltd. in Shenzhen, China, as an international corporate finance associate (1995-1999).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.71 3.19

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