# Western Asset Management Company Limited

> Western Asset Management Company Limited is an SEC-registered investment advisory firm in London, United Kingdom, registered since 1984, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 16, 2026.

- CRD: 110427
- Filed as: WESTERN ASSET MANAGEMENT COMPANY LIMITED
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: London, United Kingdom
- Filing period: October 2026
- Form ADV filing dated: September 16, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/110427
- AdvisorCensus page: https://advisorcensus.com/firm/western-asset-management-company-limited-london-110427

## Quick answers

**How is Western Asset Management Company Limited compensated?**
On its Form ADV (Item 5.E, October 2026), Western Asset Management Company Limited reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Western Asset Management Company Limited located?**
Western Asset Management Company Limited's principal office is in London, United Kingdom, according to its Form ADV.

**Is Western Asset Management Company Limited registered with the SEC or a state?**
Western Asset Management Company Limited is an SEC-registered investment advisory firm, registered since 1984. Status as filed: Approved. CRD 110427.

**How much does Western Asset Management Company Limited manage?**
Western Asset Management Company Limited reports $20,094,199,212 in regulatory assets under management in its Form ADV filing dated September 16, 2026 (100% discretionary).

**How have Western Asset Management Company Limited's assets and staff changed since 2021?**
In the Form ADV data for Western Asset Management Company Limited: Regulatory assets under management: $35,489,140,945 in the October 2021 data and $20,094,199,212 in the October 2026 data, down 43%. Total employees: 63 in October 2021 and 27 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Western Asset Management Company Limited serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (12); sovereign wealth funds and foreign official institutions (8); charitable organizations (5).

**Which custodians does Western Asset Management Company Limited use?**
Western Asset Management Company Limited's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Bank of New York, Northern Trust Co. and State Street Bank & Trust Co. as custodians holding 10% or more of its separately managed account assets.

**Does Western Asset Management Company Limited report any disciplinary disclosures?**
Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/110427

**What changed in Western Asset Management Company Limited's recent Form ADV filings?**
In the October 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Bank of New York
- Northern Trust Co.
- State Street Bank & Trust Co.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $20,094,199,212
- Discretionary: $20,094,199,212
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 0 | $0 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 1 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 12 | $1,650,893,243 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 2 | $277,215,879 |
| Charitable organizations | 5 | $602,845,157 |
| State or municipal government entities (including government pension plans) | 3 | $1,357,912,235 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 1 | $941,982,782 |
| Sovereign wealth funds and foreign official institutions | 8 | $14,149,228,118 |
| Corporations or other businesses not listed above | 3 | $1,114,121,798 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 1984 (42 years)
- Employees: 27 total, 16 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports 3 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/110427

### Websites listed on Form ADV (Item 1.I)
- westernasset.com/eu
- westernasset.com/uk
- Facebook @westernasset
- LinkedIn @western-asset-management
- X @westernasset

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $35,489,140,945 | 63 | August 4, 2021 |
| October 2022 | $33,136,606,218 | 63 | August 11, 2022 |
| October 2023 | $28,034,281,436 | 65 | June 1, 2023 |
| October 2024 | $28,392,397,689 | 59 | December 20, 2023 |
| October 2025 | $33,564,819,451 | 49 | December 23, 2024 |
| October 2026 | $20,094,199,212 | 27 | September 16, 2026 |

Regulatory assets under management: $35,489,140,945 in the October 2021 data and $20,094,199,212 in the October 2026 data, down 43%.
Total employees: 63 in October 2021 and 27 in October 2026.

## Changes in the filing (last 12 months)

### October 2026
- Updated its list of owners and control persons (Schedule A).

### September 2026
- Updated its list of owners and control persons (Schedule A).

### July 2026
- Item 11 disclosure answers changed: 3 yes answers, previously 5 (now no: 11.D(2), 11.D(4)).
- Updated its list of owners and control persons (Schedule A).

### March 2026
- Updated its list of owners and control persons (Schedule A).

### January 2026
- Employees performing advisory functions went from 14 to 16.
- Regulatory assets under management went from $33,564,819,451 to $20,094,199,212 (-40%).
- No longer lists an office in Zurich.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Western Asset Management Company Limited (CRD 110427): Form ADV filing data as of October 2026.