MFOHome About Commentary Discussions Funds The Best Resources Support Us!

Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Sign In Register

Categories

In this Discussion

Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

    Support MFO

  • Donate through PayPal

Legg Mason BW Alternative Credit (LMAMX)

smintzer
edited May 2014 in Fund Discussions
First time poster, long time lurker. I was searching Morningstar for low rated high sharpe ratio funds (like rphyx) and came across this fund. Been around for several years and there is currently a load-waived class being sold through fidelity. It is unrated by Morningstar. It looks like it holds mortgage debt. Just surprised there is no commentary on it anywhere. Anyone have thoughts?

Comments

  • Derf
    ER = 1.93 Min. purchase 1 mil. 1,000,000 dollars.

    Holds no interest for me.

    Happy mothers day to all.
    Derf
  • heezsafe
    Considering what it's claiming to do for ya, it's current dvd yield is quite low (directly attributable to what Derf notes!) Additionally, over the past 2 decades LM's corporate culture has evolved to the point where IMO it leaves a lot to be desired. Perhaps too harsh to call this a "gimmick" fund, it has that certain whiff of being an asset-gathering vehicle (more in their interest, not in yours). ... but that could just be me.:)
  • smintzer
    LM has other asset classes. I referenced the one that has been around the longest but there is a retail class sold through fidelity that is currently load waived. It's net expense ratio is 1.65. I also worry about the whiff. Just surprised with a fund out there for almost five years that has been performing so well that there wouldn't be more out there. I would note that holding mortgages is in line with DBLTX, which also outperforms, and especially so when it was much smaller. I guess I was hoping for an unknown. DBLTX.
  • scott
    There is this note on M* "This fund experienced a significant change in its investment strategy and/or legal structure as of 12/02/2013. Details regarding significant restructures can be found in this methodology paper."

    I'm too lazy to figure out/find out what that is right now, but just putting that out there.
Sign In or Register to comment.