Western Asset Announces New Partnership with Mischler Financial Group

Franklin Templeton announced the launch of Mischler Financial Group branded share classes in two Cayman Islands-based institutional money market funds sub-advised by Western Asset Management.

The new share classes represent a partnership between Western Asset and Mischler Financial Group that aims to support their mutual corporate clients’ objectives of maximizing their positive social impact through partnering with minority, women and disabled-veteran broker dealers.

The share classes are available for investment by non-U.S.-based institutional shareholders through Mischler Financial Group and its affiliates and are intended as cash management solutions for non-U.S.-based shareholders, including corporate treasury and other qualifying institutional investors.

La-Yona Rauls, Head of Corporate Cash Strategies at Mischler, said: “We are excited to continue the expansion in investment solutions for investors aiming to support business growth for minority and veteran-owned enterprises. This new cash management solution for non-U.S. investors is an important addition for a number of our clients and increases the range of cash management strategies available to them supporting their focus on positive social change.”

Western Asset looks forward to working closely with Mischler to make the shares available to their non-U.S. corporate clients. Matt Jones, Head of Liquidity Distribution at Western Asset, said: “We are excited to have been selected as the exclusive offshore money market fund provider to Mischler Financial Group’s clients. Western Asset is committed to supporting the continued business growth of diverse broker dealers and Mischler is a leader in that category.”

Money market funds are a key product within Western Asset’s extensive range of U.S. and internationally domiciled short-term investment solutions. In total, the firm manages $56.5 billion in money market funds as of June 30, 2023.

About Mischler Financial Group

Established in 1994, Mischler is the securities industry’s oldest diversity-certified broker-dealer that is owned and operated by service-disabled veterans. A fully-certified minority-owned firm and minority business enterprise (MBE), Mischler was one of the first FINRA members to be designated as a Service-Disabled-Veteran-Business Enterprise (SDVBE).

About Western Asset

Western Asset is one of the world’s leading fixed-income managers with over 50 years of experience and $388 billion in assets under management (AUM) as of June 30, 2023. With a focus on long-term fundamental value investing that employs a top-down and bottom-up approach, the firm has nine offices around the globe and deep experience across the range of fixed-income sectors. Founded in 1971, Western Asset has been recognized for delivering superior levels of client service alongside its approach emphasizing team management and intensive proprietary research, supported by robust risk management. To learn more about Western Asset, please visit www.westernasset.com.

Western Asset is an independent specialist investment manager of Franklin Templeton.

About Franklin Templeton

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,300 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and approximately $1.4 trillion in assets under management as of September 30, 2023. For more information, please visit franklintempleton.com and follow us on LinkedIn, Twitter and Facebook.

The views expressed are those of the investment manager, and the comments, opinions and analyses are rendered as of publication date and may change without notice. These views may differ from other investment management teams of Franklin Templeton which operate with independent investment discretion.

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“Western Asset is committed to supporting the continued business growth of diverse broker dealers and Mischler is a leader in that category," said Matt Jones, Head of Liquidity Distribution.