The $12 billion global opportunistic fixed income strategy from Brandywine Global Investment Management, a Legg Mason subsidiary, is now available to investors in the UK.

David Hoffman and Stephen Smith from the firm’s head office in Philadelphia will co-manage the Global Opportunistic Fixed Income Fund using the same strategy as they do for the US-based fund.

The fund will target securities with the highest real yields and, without being benchmark-constrained, it aims to outperform the Citigroup World Government Bond Index by at least 2 per cent a year over rolling five-year periods. Non-investment grade exposure will be capped at 35 per cent of the portfolio.

The fund will be available through Legg Mason’s global fund range domiciled in Dublin.