WAURX

About WAURX

Western Asset Total Return Unconstrained Fund Class R is an actively managed mutual fund in the nontraditional bond category. Its primary objective is to maximize long‑term total return through a flexible fixed‑income strategy that invests across global sectors and employs a wide toolkit of instruments and techniques, including duration management and derivatives, with limited benchmark constraints. The fund typically allocates at least half of assets to investment‑grade debt while retaining latitude to pursue opportunities in high yield, emerging markets, securitized credit, and currencies to diversify return drivers and manage interest‑rate sensitivity. Managed by Western Asset, the strategy emphasizes diversified fixed‑income exposure and the ability to adjust duration over a broad range, including low or negative settings, consistent with its unconstrained mandate. Within its category, it is positioned for lower correlation to traditional core bond benchmarks and to seek returns tied to multiple sources beyond rate movements, reflecting its absolute‑return orientation and broad sector reach.