Wamco Revamps Bond Strategies, Pushes to Retain Investing Staff

Western Asset Management Co. is revamping some of its fixed-income strategies and trying to retain investment staff, as the once-hailed bond giant continues to face the fallout from its star trader Ken Leech being charged with criminal fraud.

The company is “fine-tuning” its bond strategies and plans to focus more on fundamental credit investing, Thomas Gahan, chief executive officer of Wamco, said in a note to investors. In 2024, its flagship fund was one of the market’s worst performers as the firm stuck to bets on interest rates and the economy.

“This recalibration of portfolio balance combined with a ...