Legg Mason WA High Income CSHICX

Legg Mason Partners High Income has begun to regain lost ground, but it has some proving to do.

The market's tumult in 2008 took a toll on this fund. Its management team from subadvisor Western Asset Management has historically demonstrated a willingness to take on more credit risk than some of its high-yield bond category peers.  Read more 

Management incorporates top-down inputs from Western Asset's investment strategy committee and the bottom-up work of the firm's credit analysts. The analysts focus on identifying bonds with solid fundamentals and compelling valuations.  Read more 

Michael Buchanan, Western Asset Management's head of global credit, took the reins here in February 2006. Buchanan is backed by the firm's deep bench of high-yield and investment-grade credit analysts. In all, Western Asset manages roughly $12 billion in high-yield assets, including Legg Mason Partners Global High-Yield Bond SAHYX and the high-yield stake of this fund's sibling Legg Mason Partners Strategic Income SDSAX.  Read more 

Former manager Peter Wilby and his team, who had done well running this fund since 2002, stepped aside in February 2006. A team from Western Asset Management, whose parent Legg Mason acquired this fund's advisor, has taken the helm.  Read more