Western Asset Premier Bond Fund is a closedended fixed income mutual fund launched and managed by Western Asset Management Company The fund is comanaged by Western Asset Management Company Limited Western Asset Management Company Pte Ltd and Western Asset Management Company Ltd It invests in the fixed income markets of the United States The fund primarily invests in investment grade bonds including corporate bonds US government and agency securities and mortgage related securities It seeks to maintain an average duration of around two to three years with an average credit quality of BBB The fund benchmarks the performance of its portfolio against the Barclays Capital US Corporate High Yield Index and the Barclays Capital US Credit Index Western Asset Premier Bond Fund was formed on March 28 2002 and is domiciled in the United States