Global Alternative Credit | Investment Strategies | Brandywine GLOBAL

Global Alternative Credit

Fixed Income Portfolio Characteristics As of 3/31/2019

Characteristic Brandywine Global
Average Quality1 BBB-
Average Effective Duration (Years) 1.13
Average Coupon (%) 3.68
Average Yield To Worst (%) 4.43
Average Yield To Maturity (%) 4.43
Number of Issues 87

Quality Allocation As of 3/31/2019

Quality Rating Brandywine Global (%)
BBB or Higher 68.0
BB 8.0
B 12.5
CCC 3.0
CC 0.7
D 0.8
Not Rated 7.0

Duration Allocation As of 3/31/2019

Duration Range Brandywine Global (%)
<1 Year 9.1
1-3 Years 26.2
3-7 Years 55.3
7-10 Years 4.5
10+ Years 3.3
No Duration 1.6

Region & Currency Allocation As of 3/31/2019

Region Country (%) Currency (%)
Emerging Markets 7.0 6.0
Europe ex-Eurozone 5.2 0.2
Eurozone 6.6 0.2
North & Central America 81.2 93.6

Sector Allocation As of 3/31/2019

Sector Brandywine Global (%)
Cash & Cash Equivalents 1.6
Credit Default Swap -1.7
Currency Forwards -0.1
Government Sovereign 6.0
Leveraged Loans 2.0
MBS Agency CMBS 12.5
MBS Non-Agency CMBS 21.6
MBS Subprime 22.3
Prime MBS - Non-U.S. 11.8
Prime MBS - U.S. 18.7
U.S. High Yield Corporate Bond 2.4
U.S. Investment-Grade Corporate Bond 1.0