Brandywine GLOBAL - Investment Strategies
Global High Yield
Fixed Income Portfolio Characteristics As of 12/31/2016
Characteristic Brandywine Global BGHY
Average Quality B+ B1/B+
Average Maturity (Years) 7.11 6.57
Average Modified Adjusted Duration (Years) 3.91 4.22
Average Coupon (%) 6.78 6.34
Yield to Worst (%) 6.15 5.87
Yield to Maturity (%) 6.65 6.16
Number of Issues 78 3,355
Quality Allocation As of 12/31/2016
Quality Rating Brandywine Global (%)
BBB or Higher 3.6
BB 34.4
B 45.7
CCC 14.3
CC-D -
Not Rated 1.9
Duration Allocation As of 12/31/2016
Duration Range Brandywine Global (%)
0-1 Years 12.4
1-3 Years 30.0
3-7 Years 49.7
7-10 Years 2.4
10+ Years 5.5
Region & Currency Allocation As of 12/31/2016
Region Country Weight (%) Currency Weight (%)
Asia-Pacific Ex-Japan - -
Emerging Markets 13.0 9.1
Europe Ex-Eurozone 7.9 2.0
Eurozone 17.5 6.9
Japan - -
Middle East & Africa - -
North & Central America 60.4 81.9
Other 1.2 -
South America - -
Supranational - -
Sector Weights As of 12/31/2016
Sector Brandywine Global (%) BGHY (%)
Basic Industry 6.5 6.8
Capital Goods 3.5 6.8
Communications 22.1 15.2
Consumer Cyclical 3.9 11.2
Consumer Non-Cyclical 20.1 8.9
Energy 10.7 8.9
Financial Institutions 2.4 10.2
Government 12.6 22.5
Other Industrial 0.8 1.0
Securitized - -
Technology 8.8 4.6
Transportation 0.9 1.4
Utility 4.9 2.5