BetaShares Legg Mason Australian Bond Fund

Legg Mason and BetaShares have launched their third exchange traded fund (ETF), an active fixed income ETF, called the BetaShares Legg Mason Australian Bond Fund (managed fund) (ASX:BNDS).

The fund is managed by Legg Mason affiliate, Western Asset, and is led by veteran fixed income investor, Anthony Kirkham.

"The launch of this active ETF marks a significant milestone for Australian investors. For the first time, they can access a fixed income active ETF through one simple trade on the ASX. This fund fills a gap in the current investment marketplace, in terms of both the nature of the product and by providing access to elite specialist asset management skills," Legg Mason managing director, Andy Sowerby, said.

The fund has a management fee of 0.42 per cent per annum.