WAUCX

About WAUCX

Western Asset Total Return Unconstrained Fund Class C is an open‑end mutual fund focused on flexible, multi‑sector fixed income investing. Its primary objective is to maximize total return through an “unconstrained” approach that is not managed to a benchmark and allows broad latitude in managing duration and sector exposures. The strategy spans U.S. Treasuries, agencies, mortgage‑backed securities, asset‑backed securities, corporate credit across investment‑grade and high yield, collateralized loan obligations, and select emerging markets sovereign and corporate debt. Portfolio construction is actively managed, diversified, and driven by fundamental and valuation analysis across global fixed‑income markets. Recent materials highlight intermediate effective duration and an overall A average credit quality, reflecting a blend of interest‑rate and credit risk positioning without the use of structural leverage. The fund is part of Franklin Templeton’s Western Asset platform, which provides distribution, pricing, and fund documents for this share class. Within the broader market, the fund serves investors seeking a core‑plus style allocation with the flexibility to pursue opportunities beyond traditional benchmarks in changing rate and credit environments.