497 1 d778280d497.htm WESTERN ASSET INFLATION INDEXED PLUS BOND FUND WESTERN ASSET INFLATION INDEXED PLUS BOND FUND

90203-P1 03/24

 

LOGO

 

WESTERN ASSET FUNDS, INC.

SUPPLEMENT DATED MARCH 1, 2024

TO THE SUMMARY PROSPECTUS, PROSPECTUS AND

STATEMENT OF ADDITIONAL INFORMATION (“SAI”)

EACH DATED MAY 1, 2023, OF

WESTERN ASSET INFLATION INDEXED PLUS BOND FUND (THE “FUND”)

 

 

Effective March 1, 2024, the following changes are made to the Fund’s Summary Prospectus, Prospectus and SAI:

 

  a.

The section titled “Management – Investment professionals” in the Fund’s Summary Prospectus and Prospectus is amended to add the following investment professionals:

 

Investment professional   Title   Investment professional of the fund since

Michael C. Buchanan

   Co-Chief Investment Officer   March 2024

John Bellows

  

Portfolio Manager and

Research Analyst

   March 2024

Amit Chopra

   Portfolio Manager   March 2024

 

  b.

The section titled “More on fund management – Investment professionals” in the Fund’s Prospectus is amended to add the following investment professionals:

 

Investment professional   Title and recent biography   Investment professional of the fund since

Michael C. Buchanan

   Co-Chief Investment Officer and has been employed by Western Asset as an investment professional for at least the past five years.   March 2024

John Bellows

   Portfolio Manager/Research Analyst and has been employed by Western Asset as an investment professional for at least the past five years.   March 2024

Amit Chopra

   Portfolio Manager and has been employed by Western Asset as an investment professional for at least the past five years.   March 2024

 

  c.

The table in the section titled “Investment Professionals – Other Accounts Managed by the Investment Professionals” in the Fund’s SAI is amended with respect to the Fund to add the following entries:

 

Investment
Professionals

  

Type of Account

   Number of
Accounts
Managed		   Total Assets
Managed
(Billions) ($)		   Number of
Accounts
Managed for
which Advisory
Fee is
Performance-
Based		  

Assets
Managed for
which Advisory
Fee is
Performance-
Based
(Billions) ($)

John Bellows*

   Registered Investment Companies   23   44.98   None   None
  Other Pooled Investment Vehicles   26   12.85   None   None
  Other Accounts   225   71.06   6   4.45

Michael C.

Buchanan*

   Registered Investment Companies   37   17.34   None   None
  Other Pooled Investment Vehicles   266   50.58   23   2.60
  Other Accounts   570   170.69   21   12.68

Investment
Professionals

  

Type of Account

   Number of
Accounts
Managed		   Total Assets
Managed
(Billions) ($)		   Number of
Accounts
Managed for
which Advisory
Fee is
Performance-
Based		  

Assets
Managed for
which Advisory
Fee is
Performance-
Based
(Billions) ($)

Amit Chopra*

   Registered Investment Companies   None   None   None   None
  Other Pooled Investment Vehicles   19   7.51   None   None
  Other Accounts   151   47.61   6   4.22

 

*

The information is as of January 31, 2024, and does not reflect additional accounts (including the Fund) for which Messrs. Bellows, Buchanan and Chopra will join the portfolio management team on March 1, 2024.

 

  d.

The table in the section titled “Investment Professionals – Investment Professionals Securities Ownership” in the Fund’s SAI is amended with respect to the Fund to add the following entries:

 

Investment Professionals

   

Dollar Range of Ownership of Securities ($)

John Bellows*

   

None

Michael C. Buchanan*

   

None

Amit Chopra*

   

None

 

  *   The information is as of January 31, 2024.

Please retain this supplement for future reference.

 

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