WARIX

About WARIX

Western Asset Total Return Unconstrained Fund Class FI is an actively managed open‑end mutual fund focused on delivering long‑term total return through a flexible, unconstrained fixed‑income approach. Managed by Western Asset, the portfolio can allocate across global bond sectors, including U.S. Treasuries, agency and non‑agency mortgage‑backed securities, investment‑grade and high‑yield corporate credit, securitized assets such as CMBS and ABS, and emerging‑markets debt, while also using derivatives for hedging and tactical positioning. The strategy emphasizes diversified sources of return and the ability to vary duration and credit exposure independent of traditional benchmarks, seeking to navigate changing interest‑rate and credit cycles. As described in fund materials, the mandate typically maintains a significant share of higher‑quality bonds, with flexibility to add spread sectors when risk‑reward is favorable. This unconstrained design positions the fund within the nontraditional bond category, serving investors who want an all‑weather fixed‑income core complement that can adjust to macroeconomic shifts and exploit relative‑value opportunities across global fixed‑income markets.