Global High Yield
Fixed Income Portfolio Characteristics As of 12/31/2022
| Characteristic | Brandywine Global | BGHY |
| Average Quality1 | B+ | B+ |
| Average Maturity (Years) | 5.85 | 6.19 |
| Average Modified Duration (Years) | 3.76 | 4.32 |
| Average Coupon (%) | 6.00 | 5.42 |
| Average Yield To Worst (%) | 8.89 | 9.42 |
| Average Yield To Maturity (%) | 8.89 | 9.44 |
| Number of Issues | 87 | 3,724 |
Quality Allocation As of 12/31/2022
| Quality Rating | Brandywine Global (%) |
| BBB or Higher | 12.8 |
| BB | 35.1 |
| B | 41.1 |
| CCC | 7.6 |
| CC | - |
| D | - |
| Not Rated | 3.4 |
Duration Allocation As of 12/31/2022
| Duration Range | Brandywine Global (%) |
| <1 Year | 0.8 |
| 1-3 Years | 25.4 |
| 3-7 Years | 65.2 |
| 7-10 Years | 1.2 |
| 10+ Years | - |
| No Duration | 7.4 |
Region & Currency Allocation As of 12/31/2022
| Region | Country (%) | Currency (%) |
| Asia-Pacific ex-Japan | 0.9 | - |
| Emerging Markets | 7.4 | - |
| Europe ex-Eurozone | 4.1 | 1.7 |
| Eurozone | 1.6 | 17.6 |
| Middle East & Africa | 3.7 | - |
| North & Central America | 81.3 | 80.7 |
| Other | 1.0 | - |
Sector Allocation As of 12/31/2022
| Sector | Brandywine Global (%) | BGHY (%) |
| Basic Industry | 6.7 | 4.5 |
| Capital Goods | 2.1 | 6.9 |
| Communications | 15.1 | 12.4 |
| Consumer Cyclical | 20.0 | 15.6 |
| Consumer Non-Cyclical | 6.5 | 8.8 |
| Energy | 14.8 | 7.5 |
| Financial Institutions | 22.0 | 10.4 |
| Government | - | 46.6 |
| Other Industrial | 1.2 | 1.2 |
| Technology | 2.6 | 4.2 |
| Utilities | - | 2.5 |