Brandywine Global

Brandywine Global Investment Management has built up significant experience across fixed income, equity and global portfolios that invest in US and international markets. Founded in 1986 by a group of highly experienced portfolio managers, the firm has been a wholly owned affiliate of Legg Mason, Inc. since 1998 but operates independently, being headquartered in Philadelphia with satellite offices in Chicago, San Francisco and Singapore.

Brandywine pursues one investment approach: value investing. Through practical experience, Brandywine has determined that value-style investing — whether in equity or fixed income markets, in the US or internationally — can provide excellent risk-adjusted returns over full investment cycles, and it is a particularly important strategy in today's global markets.

 

Philosophy


Fixed Income

Brandywine believes it can seize opportunities and aim for long-term returns through strict adherence to its value-driven process by concentrating portfolio assets in countries and currencies that meet its definition of value. Brandywine will avoid constructing portfolios that mirror the benchmark on the basis that a country weighting in a benchmark is not reflective of the value of the underlying fixed income market.

As a result, when looking at fixed income markets, Brandywine will focus on:

  • Investing in bonds with the highest real yields
  • Manages currency to increase returns
  • Rotating among countries to find the best value in fixed income markets around the globe
  • Controlling risk through the purchase of undervalued securities.

Global Equity

Brandywine has broad-based experience in global equities, which has been gained by managing global value equity strategies for over ten years. A team approach is the hallmark of Brandywine's consistent performance in this asset class. Through Brandywine's global research platform, stocks are viewed at a global level so that comparisons can be made with similar companies in the same industry or sector to determine their attractiveness — giving the investment team a truly global perspective.

Brandywine's global equity approach benefits from the following key attributes:

  • Experienced and stable investment team structured to provide a global research perspective
  • Active, bottom-up approach to stock selection
  • Country allocation is the result of stock selection.

Brandywine Global Investment Management (Brandywine) is affiliated with Legg Mason Investments (Europe) Limited through common control and ownership by Legg Mason, Inc. Legg Mason Investments (Europe) Limited provides its clients with access to Brandywine primarily through its UK and Dublin domiciled funds, in which Brandywine serves as investment manager.