WESTERN ASSET MANAGEMENT COMPANY LIMITED

1. WESTERN ASSET MANAGEMENT COMPANY LIMITED 2000-02-22 → present
2. WESTERN ASSET GLOBAL MANAGEMENT LIMITED 1996-02-14 → 2000-02-22
3. LEHMAN BROTHERS GLOBAL ASSET MANAGEMENT LIMITED 1992-09-29 → 1996-02-14
4. SHEARSON LEHMAN GLOBAL ASSET MANAGEMENT LIMITED 1990-03-12 → 1992-09-29

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Despite the impact of the government investigations on the Company's AUM and the volatility in the bond and currency markets in the last fiscal year against an uncertain geopolitical backdrop, the Company's performance for its clients in global government and credit strategies has steadily improved. A sustained performance recovery will help bolster prospects for existing client retention and for new business growth over the medium term. As inflation returns to central banks' targets and interest rates continue to decline, momentum should build again in asset gathering for the WAML managed strategies. Key risks in the next fiscal year include a more protracted global economic slowdown as well as an uneven disinflation trajectory could delay central bank easing and raise volatility with negative consequences for performance. Political and geopolitical risks also abound from US trade policies, accelerating government borrowing and tensions remaining high in the Middle East and Ukraine conflicts. Nevertheless, there are no items that would result in a material uncertainty which may cast significant doubt about the ability of the Company to continue as a going concern.”

Significant events

• “In November 2023, following the launch of an internal investigation, Western Asset Management Company, LLC, a US domiciled, fellow member of the Western Asset Management ("Western Asset") family of affiliated companies, was notified of parallel investigations by the US Securities and Exchange Commission ("SEC") and the US Department of Justice ("DOJ") (the "investigations"). These investigations relate to trade allocations in certain Western Asset-managed accounts involving US Treasury derivatives during the period 2019 to 2023. The investigations have had an impact on the assets under management of the Company, due to related outflows; however, no claims have been made against the Company that are expected to have a material adverse effect on its business, financial position, results of operations, or liquidity. Management continues to monitor the progress of these investigations and is cooperating fully with the relevant authorities. Based on the information available as of the reporting date, no provision has been recognised.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -26.8%

  £79,559,000 → £58,254,000

• Cash

  +138.7%

  £15,001,000 → £35,803,000

• Net assets

  -16.8%

  £43,854,000 → £36,504,000

• Employees

  -17%

  53 → 44

• Operating profit

  -309.1%

  £4,757,000 → -£9,949,000

• Profit before tax

  -226.8%

  £7,089,000 → -£8,989,000

• Wages

  +6.8%

  £16,954,000 → £18,109,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers