Shareholder Report | 12 Months Ended |
Oct. 31, 2024 USD ($) $ / shares |
Shareholder Report [Line Items] | | |
Document Type | N-CSR | |
Amendment Flag | false | |
Registrant Name | Legg Mason Global Asset Management Trust | |
Entity Central Index Key | 0001474103 | |
Entity Investment Company Type | N-1A | |
Document Period End Date | Oct. 31, 2024 | |
Class A | | |
Shareholder Report [Line Items] | | |
Fund Name | BrandywineGLOBAL - Alternative Credit Fund | |
Class Name | Class A | |
Trading Symbol | LMAPX | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about BrandywineGLOBAL - Alternative Credit Fund for the period November 1, 2023, to October 31, 2024. | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents . You can also request this information by contacting us at 877-6LM-FUND/656-3863 . | |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund that occurred during the reporting period. | |
Additional Information Phone Number | 877-6LM-FUND/656-3863 | |
Additional Information Website | https://www.franklintempleton.com/regulatory-fund-documents | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment) Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment * Class A $166 1.60% | [1] |
Expenses Paid, Amount | $ 166 | |
Expense Ratio, Percent | 1.60% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? For the twelve months ended October 31, 2024, Class A shares of BrandywineGLOBAL - Alternative Credit Fund returned 7.32%. The Fund compares its performance to the FTSE 3-Month U.S. Treasury Bill Index, which returned 5.59% for the same period. PERFORMANCE HIGHLIGHTS Top contributors to performance: ↑ U.S. high yield allocations were the top contributor for the reporting period. Investor sentiment remained strong due to the resilience of the U.S. economy, which drove robust corporate earnings and kept default rates below trend. Additionally, high yield’s yield advantage over other fixed-income options attracted increased inflows, providing solid support for the asset class. ↑ Prime U.S. mortgage-backed securities (MBS) were another top contributor over the reporting period. The U.S. housing market remained resilient, supported by low inventory and stable demand. MBS demand was robust, as yields were attractive relative to other fixed-income assets. Additionally, investors perceived MBS as a safer asset class, bolstered by strong property appreciation, which reduced default risks. ↑ An overweight position in Egyptian T-bills contributed positively over the period. These bonds offered attractive yields along with improved safety, thanks to the Egyptian government’s economic reforms aimed at stabilizing the economy and attracting foreign investment. Top detractors from performance: ↓ The Fund’s short position on the Nasdaq and S&P 500 in November 2023 encountered challenges as both indices rallied significantly, with the S&P 500 rising 8.9% and the Nasdaq surging 10.8%. This upswing, driven by cooling inflation and labor market data, bolstered investor confidence and led to market expectations of a Fed rate-cutting cycle in early 2024. Positive corporate earnings and favorable seasonal factors further propelled gains, creating a challenging environment for the short positions. In response to this shift in market sentiment, the Fund exited these positions by year-end, adapting its strategy to align with the evolving economic outlook. ↓ An overweight in hedged Colombian bonds detracted over the period due to sluggish growth and challenges surrounding the administration’s attempted reforms. Budget uncertainty weighed on investor sentiment, driven by concerns over limited growth potential and fiscal stability. Colombia’s high fiscal deficit, coupled with increased debt issuance to meet financing needs, put additional pressure on bond prices, contributing to the underperformance. Use of derivatives and the impact on performance: The Fund used bond futures for duration management, hedging, and an alpha source. Currency forwards were used for hedging purposes, while equity futures were briefly used as an alpha source. In aggregate these derivatives detracted from performance. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. | |
Line Graph [Table Text Block] | | |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended October 31, 2024 1 Year 5 Year 10 Year Class A 7.32 0.96 1.78 Class A (with sales charge) 3.30 0.08 1.34 Bloomberg U.S. Aggregate Index 10.55 -0.23 1.49 FTSE 3-Month U.S. Treasury Bill Index 5.59 2.44 1.71 | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Material Change Date | Nov. 01, 2023 | |
Updated Performance Information Location [Text Block] | For current month-end performance, please call Franklin Templeton at 877-6LM-FUND/656-3863 or visit https://www.franklintempleton.com/investments/options/mutual-funds . Important data provider notices and terms available at www.franklintempletondatasources.com. | |
Net Assets | $ 29,971,228 | |
Holdings Count | $ / shares | 68 | [2] |
Advisory Fees Paid, Amount | $ 545,082 | |
Investment Company Portfolio Turnover | 159% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of October 31, 2024) Total Net Assets $29,971,228 Total Number of Portfolio Holdings * 68 Total Management Fee Paid $545,082 Portfolio Turnover Rate 159% | [2] |
Holdings [Text Block] | | |
Material Fund Change [Text Block] | HOW HAS THE FUND CHANGED? Effective January 17, 2024, Michael Arno, CFA, Renato Latini, CFA, John McClain, CFA, and William Zox, CFA became portfolio managers of the Fund. This is a summary of certain changes to the Fund since November 1, 2023 . For more complete information, you may review the Fund’s current prospectus and any applicable supplements and the Fund’s next prospectus, which we expect to be available by March 1, 2025, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at 877-6LM-FUND/656-3863 or prospectus franklintempleton.com . | |
Updated Prospectus Phone Number | 877-6LM-FUND/656-3863 | |
Updated Prospectus Email Address | prospectus@franklintempleton.com | |
Updated Prospectus Web Address | https://www.franklintempleton.com/regulatory-fund-documents | |
Class C | | |
Shareholder Report [Line Items] | | |
Fund Name | BrandywineGLOBAL - Alternative Credit Fund | |
Class Name | Class C | |
Trading Symbol | LMAQX | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about BrandywineGLOBAL - Alternative Credit Fund for the period November 1, 2023, to October 31, 2024. | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents . You can also request this information by contacting us at 877-6LM-FUND/656-3863 . | |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund that occurred during the reporting period. | |
Additional Information Phone Number | 877-6LM-FUND/656-3863 | |
Additional Information Website | https://www.franklintempleton.com/regulatory-fund-documents | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment) Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment * Class C $236 2.28% | [3] |
Expenses Paid, Amount | $ 236 | |
Expense Ratio, Percent | 2.28% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? For the twelve months ended October 31, 2024, Class C shares of BrandywineGLOBAL - Alternative Credit Fund returned 6.62%. The Fund compares its performance to the FTSE 3-Month U.S. Treasury Bill Index, which returned 5.59% for the same period. PERFORMANCE HIGHLIGHTS Top contributors to performance: ↑ U.S. high yield allocations were the top contributor for the reporting period. Investor sentiment remained strong due to the resilience of the U.S. economy, which drove robust corporate earnings and kept default rates below trend. Additionally, high yield’s yield advantage over other fixed-income options attracted increased inflows, providing solid support for the asset class. ↑ Prime U.S. mortgage-backed securities (MBS) were another top contributor over the reporting period. The U.S. housing market remained resilient, supported by low inventory and stable demand. MBS demand was robust, as yields were attractive relative to other fixed-income assets. Additionally, investors perceived MBS as a safer asset class, bolstered by strong property appreciation, which reduced default risks. ↑ An overweight position in Egyptian T-bills contributed positively over the period. These bonds offered attractive yields along with improved safety, thanks to the Egyptian government’s economic reforms aimed at stabilizing the economy and attracting foreign investment. Top detractors from performance: ↓ The Fund’s short position on the Nasdaq and S&P 500 in November 2023 encountered challenges as both indices rallied significantly, with the S&P 500 rising 8.9% and the Nasdaq surging 10.8%. This upswing, driven by cooling inflation and labor market data, bolstered investor confidence and led to market expectations of a Fed rate-cutting cycle in early 2024. Positive corporate earnings and favorable seasonal factors further propelled gains, creating a challenging environment for the short positions. In response to this shift in market sentiment, the Fund exited these positions by year-end, adapting its strategy to align with the evolving economic outlook. ↓ An overweight in hedged Colombian bonds detracted over the period due to sluggish growth and challenges surrounding the administration’s attempted reforms. Budget uncertainty weighed on investor sentiment, driven by concerns over limited growth potential and fiscal stability. Colombia’s high fiscal deficit, coupled with increased debt issuance to meet financing needs, put additional pressure on bond prices, contributing to the underperformance. Use of derivatives and the impact on performance: The Fund used bond futures for duration management, hedging, and an alpha source. Currency forwards were used for hedging purposes, while equity futures were briefly used as an alpha source. In aggregate these derivatives detracted from performance. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. | |
Line Graph [Table Text Block] | | |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended October 31, 2024 1 Year 5 Year 10 Year Class C 6.62 0.24 1.06 Class C (with sales charge) 5.65 0.24 1.06 Bloomberg U.S. Aggregate Index 10.55 -0.23 1.49 FTSE 3-Month U.S. Treasury Bill Index 5.59 2.44 1.71 | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Material Change Date | Nov. 01, 2023 | |
Updated Performance Information Location [Text Block] | For current month-end performance, please call Franklin Templeton at 877-6LM-FUND/656-3863 or visit https://www.franklintempleton.com/investments/options/mutual-funds . Important data provider notices and terms available at www.franklintempletondatasources.com. | |
Net Assets | $ 29,971,228 | |
Holdings Count | $ / shares | 68 | [4] |
Advisory Fees Paid, Amount | $ 545,082 | |
Investment Company Portfolio Turnover | 159% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of October 31, 2024) Total Net Assets $29,971,228 Total Number of Portfolio Holdings * 68 Total Management Fee Paid $545,082 Portfolio Turnover Rate 159% | [4] |
Holdings [Text Block] | | |
Material Fund Change [Text Block] | HOW HAS THE FUND CHANGED? Effective January 17, 2024, Michael Arno, CFA, Renato Latini, CFA, John McClain, CFA, and William Zox, CFA became portfolio managers of the Fund. This is a summary of certain changes to the Fund since November 1, 2023 . For more complete information, you may review the Fund’s current prospectus and any applicable supplements and the Fund’s next prospectus, which we expect to be available by March 1, 2025, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at 877-6LM-FUND/656-3863 or prospectus franklintempleton.com . | |
Updated Prospectus Phone Number | 877-6LM-FUND/656-3863 | |
Updated Prospectus Email Address | prospectus@franklintempleton.com | |
Updated Prospectus Web Address | https://www.franklintempleton.com/regulatory-fund-documents | |
Class FI | | |
Shareholder Report [Line Items] | | |
Fund Name | BrandywineGLOBAL - Alternative Credit Fund | |
Class Name | Class FI | |
Trading Symbol | LMAOX | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about BrandywineGLOBAL - Alternative Credit Fund for the period November 1, 2023, to October 31, 2024. | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents . You can also request this information by contacting us at 877-6LM-FUND/656-3863 . | |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund that occurred during the reporting period. | |
Additional Information Phone Number | 877-6LM-FUND/656-3863 | |
Additional Information Website | https://www.franklintempleton.com/regulatory-fund-documents | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment) Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment * Class FI $171 1.65% | [5] |
Expenses Paid, Amount | $ 171 | |
Expense Ratio, Percent | 1.65% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? For the twelve months ended October 31, 2024, Class FI shares of BrandywineGLOBAL - Alternative Credit Fund returned 7.22%. The Fund compares its performance to the FTSE 3-Month U.S. Treasury Bill Index, which returned 5.59% for the same period. PERFORMANCE HIGHLIGHTS Top contributors to performance: ↑ U.S. high yield allocations were the top contributor for the reporting period. Investor sentiment remained strong due to the resilience of the U.S. economy, which drove robust corporate earnings and kept default rates below trend. Additionally, high yield’s yield advantage over other fixed-income options attracted increased inflows, providing solid support for the asset class. ↑ Prime U.S. mortgage-backed securities (MBS) were another top contributor over the reporting period. The U.S. housing market remained resilient, supported by low inventory and stable demand. MBS demand was robust, as yields were attractive relative to other fixed-income assets. Additionally, investors perceived MBS as a safer asset class, bolstered by strong property appreciation, which reduced default risks. ↑ An overweight position in Egyptian T-bills contributed positively over the period. These bonds offered attractive yields along with improved safety, thanks to the Egyptian government’s economic reforms aimed at stabilizing the economy and attracting foreign investment. Top detractors from performance: ↓ The Fund’s short position on the Nasdaq and S&P 500 in November 2023 encountered challenges as both indices rallied significantly, with the S&P 500 rising 8.9% and the Nasdaq surging 10.8%. This upswing, driven by cooling inflation and labor market data, bolstered investor confidence and led to market expectations of a Fed rate-cutting cycle in early 2024. Positive corporate earnings and favorable seasonal factors further propelled gains, creating a challenging environment for the short positions. In response to this shift in market sentiment, the Fund exited these positions by year-end, adapting its strategy to align with the evolving economic outlook. ↓ An overweight in hedged Colombian bonds detracted over the period due to sluggish growth and challenges surrounding the administration’s attempted reforms. Budget uncertainty weighed on investor sentiment, driven by concerns over limited growth potential and fiscal stability. Colombia’s high fiscal deficit, coupled with increased debt issuance to meet financing needs, put additional pressure on bond prices, contributing to the underperformance. Use of derivatives and the impact on performance: The Fund used bond futures for duration management, hedging, and an alpha source. Currency forwards were used for hedging purposes, while equity futures were briefly used as an alpha source. In aggregate these derivatives detracted from performance. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. | |
Line Graph [Table Text Block] | | |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended October 31, 2024 1 Year 5 Year 10 Year Class FI 7.22 0.92 1.75 Bloomberg U.S. Aggregate Index 10.55 -0.23 1.49 FTSE 3-Month U.S. Treasury Bill Index 5.59 2.44 1.71 | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Material Change Date | Nov. 01, 2023 | |
Updated Performance Information Location [Text Block] | For current month-end performance, please call Franklin Templeton at 877-6LM-FUND/656-3863 or visit https://www.franklintempleton.com/investments/options/mutual-funds . Important data provider notices and terms available at www.franklintempletondatasources.com. | |
Net Assets | $ 29,971,228 | |
Holdings Count | $ / shares | 68 | [6] |
Advisory Fees Paid, Amount | $ 545,082 | |
Investment Company Portfolio Turnover | 159% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of October 31, 2024) Total Net Assets $29,971,228 Total Number of Portfolio Holdings * 68 Total Management Fee Paid $545,082 Portfolio Turnover Rate 159% | [6] |
Holdings [Text Block] | | |
Material Fund Change [Text Block] | HOW HAS THE FUND CHANGED? Effective January 17, 2024, Michael Arno, CFA, Renato Latini, CFA, John McClain, CFA, and William Zox, CFA became portfolio managers of the Fund. This is a summary of certain changes to the Fund since November 1, 2023 . For more complete information, you may review the Fund’s current prospectus and any applicable supplements and the Fund’s next prospectus, which we expect to be available by March 1, 2025, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at 877-6LM-FUND/656-3863 or prospectus franklintempleton.com . | |
Updated Prospectus Phone Number | 877-6LM-FUND/656-3863 | |
Updated Prospectus Email Address | prospectus@franklintempleton.com | |
Updated Prospectus Web Address | https://www.franklintempleton.com/regulatory-fund-documents | |
Class I | | |
Shareholder Report [Line Items] | | |
Fund Name | BrandywineGLOBAL - Alternative Credit Fund | |
Class Name | Class I | |
Trading Symbol | LMANX | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about BrandywineGLOBAL - Alternative Credit Fund for the period November 1, 2023, to October 31, 2024. | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents . You can also request this information by contacting us at 877-6LM-FUND/656-3863 . | |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund that occurred during the reporting period. | |
Additional Information Phone Number | 877-6LM-FUND/656-3863 | |
Additional Information Website | https://www.franklintempleton.com/regulatory-fund-documents | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment) Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment * Class I $140 1.35% | [7] |
Expenses Paid, Amount | $ 140 | |
Expense Ratio, Percent | 1.35% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? For the twelve months ended October 31, 2024, Class I shares of BrandywineGLOBAL - Alternative Credit Fund returned 7.49%. The Fund compares its performance to the FTSE 3-Month U.S. Treasury Bill Index, which returned 5.59% for the same period. PERFORMANCE HIGHLIGHTS Top contributors to performance: ↑ U.S. high yield allocations were the top contributor for the reporting period. Investor sentiment remained strong due to the resilience of the U.S. economy, which drove robust corporate earnings and kept default rates below trend. Additionally, high yield’s yield advantage over other fixed-income options attracted increased inflows, providing solid support for the asset class. ↑ Prime U.S. mortgage-backed securities (MBS) were another top contributor over the reporting period. The U.S. housing market remained resilient, supported by low inventory and stable demand. MBS demand was robust, as yields were attractive relative to other fixed-income assets. Additionally, investors perceived MBS as a safer asset class, bolstered by strong property appreciation, which reduced default risks. ↑ An overweight position in Egyptian T-bills contributed positively over the period. These bonds offered attractive yields along with improved safety, thanks to the Egyptian government’s economic reforms aimed at stabilizing the economy and attracting foreign investment. Top detractors from performance: ↓ The Fund’s short position on the Nasdaq and S&P 500 in November 2023 encountered challenges as both indices rallied significantly, with the S&P 500 rising 8.9% and the Nasdaq surging 10.8%. This upswing, driven by cooling inflation and labor market data, bolstered investor confidence and led to market expectations of a Fed rate-cutting cycle in early 2024. Positive corporate earnings and favorable seasonal factors further propelled gains, creating a challenging environment for the short positions. In response to this shift in market sentiment, the Fund exited these positions by year-end, adapting its strategy to align with the evolving economic outlook. ↓ An overweight in hedged Colombian bonds detracted over the period due to sluggish growth and challenges surrounding the administration’s attempted reforms. Budget uncertainty weighed on investor sentiment, driven by concerns over limited growth potential and fiscal stability. Colombia’s high fiscal deficit, coupled with increased debt issuance to meet financing needs, put additional pressure on bond prices, contributing to the underperformance. Use of derivatives and the impact on performance: The Fund used bond futures for duration management, hedging, and an alpha source. Currency forwards were used for hedging purposes, while equity futures were briefly used as an alpha source. In aggregate these derivatives detracted from performance. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. | |
Line Graph [Table Text Block] | | |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended October 31, 2024 1 Year 5 Year 10 Year Class I 7.49 1.22 2.08 Bloomberg U.S. Aggregate Index 10.55 -0.23 1.49 FTSE 3-Month U.S. Treasury Bill Index 5.59 2.44 1.71 | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Material Change Date | Nov. 01, 2023 | |
Updated Performance Information Location [Text Block] | For current month-end performance, please call Franklin Templeton at 877-6LM-FUND/656-3863 or visit https://www.franklintempleton.com/investments/options/mutual-funds . Important data provider notices and terms available at www.franklintempletondatasources.com. | |
Net Assets | $ 29,971,228 | |
Holdings Count | $ / shares | 68 | [8] |
Advisory Fees Paid, Amount | $ 545,082 | |
Investment Company Portfolio Turnover | 159% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of October 31, 2024) Total Net Assets $29,971,228 Total Number of Portfolio Holdings * 68 Total Management Fee Paid $545,082 Portfolio Turnover Rate 159% | [8] |
Holdings [Text Block] | | |
Material Fund Change [Text Block] | HOW HAS THE FUND CHANGED? Effective January 17, 2024, Michael Arno, CFA, Renato Latini, CFA, John McClain, CFA, and William Zox, CFA became portfolio managers of the Fund. This is a summary of certain changes to the Fund since November 1, 2023 . For more complete information, you may review the Fund’s current prospectus and any applicable supplements and the Fund’s next prospectus, which we expect to be available by March 1, 2025, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at 877-6LM-FUND/656-3863 or prospectus franklintempleton.com . | |
Updated Prospectus Phone Number | 877-6LM-FUND/656-3863 | |
Updated Prospectus Email Address | prospectus@franklintempleton.com | |
Updated Prospectus Web Address | https://www.franklintempleton.com/regulatory-fund-documents | |
Class IS | | |
Shareholder Report [Line Items] | | |
Fund Name | BrandywineGLOBAL - Alternative Credit Fund | |
Class Name | Class IS | |
Trading Symbol | LMAMX | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about BrandywineGLOBAL - Alternative Credit Fund for the period November 1, 2023, to October 31, 2024. | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents . You can also request this information by contacting us at 877-6LM-FUND/656-3863 . | |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund that occurred during the reporting period. | |
Additional Information Phone Number | 877-6LM-FUND/656-3863 | |
Additional Information Website | https://www.franklintempleton.com/regulatory-fund-documents | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment) Class Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment * Class IS $130 1.25% | [9] |
Expenses Paid, Amount | $ 130 | |
Expense Ratio, Percent | 1.25% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? For the twelve months ended October 31, 2024, Class IS shares of BrandywineGLOBAL - Alternative Credit Fund returned 7.44%. The Fund compares its performance to the FTSE 3-Month U.S. Treasury Bill Index, which returned 5.59% for the same period. PERFORMANCE HIGHLIGHTS Top contributors to performance: ↑ U.S. high yield allocations were the top contributor for the reporting period. Investor sentiment remained strong due to the resilience of the U.S. economy, which drove robust corporate earnings and kept default rates below trend. Additionally, high yield’s yield advantage over other fixed-income options attracted increased inflows, providing solid support for the asset class. ↑ Prime U.S. mortgage-backed securities (MBS) were another top contributor over the reporting period. The U.S. housing market remained resilient, supported by low inventory and stable demand. MBS demand was robust, as yields were attractive relative to other fixed-income assets. Additionally, investors perceived MBS as a safer asset class, bolstered by strong property appreciation, which reduced default risks. ↑ An overweight position in Egyptian T-bills contributed positively over the period. These bonds offered attractive yields along with improved safety, thanks to the Egyptian government’s economic reforms aimed at stabilizing the economy and attracting foreign investment. Top detractors from performance: ↓ The Fund’s short position on the Nasdaq and S&P 500 in November 2023 encountered challenges as both indices rallied significantly, with the S&P 500 rising 8.9% and the Nasdaq surging 10.8%. This upswing, driven by cooling inflation and labor market data, bolstered investor confidence and led to market expectations of a Fed rate-cutting cycle in early 2024. Positive corporate earnings and favorable seasonal factors further propelled gains, creating a challenging environment for the short positions. In response to this shift in market sentiment, the Fund exited these positions by year-end, adapting its strategy to align with the evolving economic outlook. ↓ An overweight in hedged Colombian bonds detracted over the period due to sluggish growth and challenges surrounding the administration’s attempted reforms. Budget uncertainty weighed on investor sentiment, driven by concerns over limited growth potential and fiscal stability. Colombia’s high fiscal deficit, coupled with increased debt issuance to meet financing needs, put additional pressure on bond prices, contributing to the underperformance. Use of derivatives and the impact on performance: The Fund used bond futures for duration management, hedging, and an alpha source. Currency forwards were used for hedging purposes, while equity futures were briefly used as an alpha source. In aggregate these derivatives detracted from performance. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. | |
Line Graph [Table Text Block] | | |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended October 31, 2024 1 Year 5 Year 10 Year Class IS 7.44 1.31 2.16 Bloomberg U.S. Aggregate Index 10.55 -0.23 1.49 FTSE 3-Month U.S. Treasury Bill Index 5.59 2.44 1.71 | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Material Change Date | Nov. 01, 2023 | |
Updated Performance Information Location [Text Block] | For current month-end performance, please call Franklin Templeton at 877-6LM-FUND/656-3863 or visit https://www.franklintempleton.com/investments/options/mutual-funds . Important data provider notices and terms available at www.franklintempletondatasources.com. | |
Net Assets | $ 29,971,228 | |
Holdings Count | $ / shares | 68 | [10] |
Advisory Fees Paid, Amount | $ 545,082 | |
Investment Company Portfolio Turnover | 159% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of October 31, 2024) Total Net Assets $29,971,228 Total Number of Portfolio Holdings * 68 Total Management Fee Paid $545,082 Portfolio Turnover Rate 159% | [10] |
Holdings [Text Block] | | |
Material Fund Change [Text Block] | HOW HAS THE FUND CHANGED? Effective January 17, 2024, Michael Arno, CFA, Renato Latini, CFA, John McClain, CFA, and William Zox, CFA became portfolio managers of the Fund. This is a summary of certain changes to the Fund since November 1, 2023 . For more complete information, you may review the Fund’s current prospectus and any applicable supplements and the Fund’s next prospectus, which we expect to be available by March 1, 2025, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at 877-6LM-FUND/656-3863 or prospectus franklintempleton.com . | |
Updated Prospectus Phone Number | 877-6LM-FUND/656-3863 | |
Updated Prospectus Email Address | prospectus@franklintempleton.com | |
Updated Prospectus Web Address | https://www.franklintempleton.com/regulatory-fund-documents | |
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[1] * Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. * Does not include derivatives, except purchased options, if any. * Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. * Does not include derivatives, except purchased options, if any. * Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. * Does not include derivatives, except purchased options, if any. * Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. * Does not include derivatives, except purchased options, if any. * Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. * Does not include derivatives, except purchased options, if any. |