FYI: Legg Mason Inc. (LM) said its Western Asset Management bond unit set limits on expenses for clients on two of its main mutual funds, as fixed-income managers vie for billions of dollars leaving Pacific Investment Management Co. after Bill Gross’s exit.
Legg Mason capped annual costs on institutional shares of the Western Asset Core Bond Fund (WATFX) and the Western Asset Core Plus Bond Fund (WACPX) at 0.45 percent of assets, the firm said today in a client update. That’s down from a net expense ratio of 0.51 percent of assets for the Core Plus fund, and 0.49 percent for the Core Bond fund.
Regards,
Ted
http://www.bloomberg.com/news/print/2014-11-10/western-asset-caps-expenses-for-core-bond-core-plus-funds-1-.html
