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Delivering Value to Clients Since

1986

Assets Under Management1

$65
Billion

As of 9/30/2025

Average Client Relationship2

10
Years

As of 9/30/2025

Locations3

Philadelphia
Columbus
Singapore
London
Sydney

Value in Every Relationship

We believe in the power of value investing. Acting with conviction and discipline, we look beyond short-term, conventional thinking to rigorously pursue long-term value for our clients. Where others see risk, we see potential.

Since 1986, our global experience has provided clients with investment insights and a range of differentiated fixed income, equity, and alternative solutions. We thrive in a culture of debate that encourages ideas, respects diverse viewpoints, and invites candid discussion. By challenging one another and conventional thinking, we make better investment decisions and create value for our clients.

Brandywine Global, as a Specialist Investment Manager of Franklin Resources, Inc., offers the advantages of an investment boutique backed by the resources and infrastructure of one of the world's leading asset managers. With headquarters in Philadelphia and locations3 in Columbus, Singapore, London, and Sydney, we are committed to bringing value to all our relationships.

Our mission is to deliver superior outcomes for our clients by encouraging independent thinking and challenging one another in a culture of integrity and mutual respect.

Assets Under Management

History

Brandywine Global incorporated in 1986 as Brandywine Asset Management, LLC. After building a track record with large- and small-cap domestic value strategies, we sought to increase the depth and breadth of our products to meet the needs of our clients.  In 1992, we introduced our first global fixed income strategies.

Brandywine Global’s business plan has focused on organic growth by stressing excellence in portfolio management and strong client service.  In addition to our well-established distribution focus in the US, we began marketing our services actively to the non-US market, which continues to be an area of growth.

In January 1998, Brandywine Global became a wholly owned but independently operated subsidiary of Legg Mason, Inc.  Since the late 1990s, the Firm has grown significantly, building its assets from about $6 billion to the AUM shown above. This growth has been fueled, in part, by an increasing presence in international markets, particularly in Europe, Canada, Asia, the Middle East, and Africa.  In May 2006, we relocated our headquarters from Wilmington, DE, to Philadelphia and changed our name to Brandywine Global Investment Management, LLC.

In July 2020, Legg Mason, Inc. was acquired by Franklin Resources, Inc.  As a Specialist Investment Manager of Franklin Resources, Inc., Brandywine Global retains full investment autonomy while benefiting from the scale and resources of a global leader in asset management.  Most recently, in July 2021, Brandywine Global acquired the business of Diamond Hill’s high yield-focused, US corporate credit mutual funds.

Inclusion and Engagement

Our goal is to draw on and fully leverage the wisdom of a workforce that reflects the population we serve. For Brandywine Global, Inclusion and Engagement starts with building a strong foundation that includes being intentional about stating our core set of values AND translating those values into expectations of behavior to which all employees are accountable, learn more.

Corporate Social Responsibility

We take many measures to advance our sustainability with a focus on our culture, employee engagement, diversity and inclusion, employee development, community engagement, and environmental resourcefulness. Please see our Corporate Social Responsibility Statement for additional details.

2022 Award - Best Tech Workplace Diversity Winner

Data as of 9/30/2025

1 The Firm’s AUM includes Diversified Value Equity non-discretionary assets of $294.0M and Fundamental Equity non-discretionary assets of $3,822.2M, both of which are reported on a one-month lag. 

2 The client relationship (years) is calculated by comparing end of the previous quarter’s date to the first initial inception date for any account associated with a client that currently has an active, funded account. 

3 Brandywine Global is a Specialist Investment Manager that is part of the Franklin Templeton Group. Individuals and office locations in non U.S. jurisdictions have been integrated into locally-registered Franklin Templeton entities. 

There is no guarantee that holding securities with relatively high (or low) price-to-earnings, price-to-book or price-to-cash flow ratios will cause the portfolio to outperform its benchmark or index. The views expressed herein are not intended to be a recommendation or investment advice and do not take into account the individual financial circumstances or objectives of the investor who receives it. The securities described herein may not be suitable for all investors. There is no guarantee that any investment objectives will be met or achieved. Brandywine Global’s selection process may prove incorrect, which may have a negative impact on performance. This information should not be considered a solicitation or an offer to provide any Brandywine Global service in any jurisdiction where it would be unlawful to do so under the laws of that jurisdiction.

General Disclaimers: This material has been prepared by Brandywine Global Investment Management, LLC ("Brandywine Global") and is provided to certain qualified institutions, financial intermediaries, and institutional investors for informational purposes only. It may not be reproduced or redistributed without Brandywine Global's prior written approval. This material is not intended to be a forecast, research, or investment advice, and is not a recommendation, or an offer or solicitation to buy or sell any securities or to adopt any particular investment strategy. The information set forth herein has been derived from sources believed to be accurate, reliable, and current as of the date of this material, but is subject to change without notice. The opinions expressed may differ from those of other Brandywine Global portfolio management teams and our affiliates. References to specific securities, asset classes and financial markets are for illustrative purposes only and are not intended to be, and should not be, interpreted as recommendations. The material was prepared without regard to specific objectives, financial situation or needs of any investor and should not be used as the basis of any investment decision.

Risk: All financial investments involve an element of risk. Past performance does not guarantee future results. The value of investments and the income derived from investments will fluctuate and a loss of principal can occur.

Foreign securities, foreign currencies, and securities issued by U.S. entities with substantial operations outside of the U.S. can involve additional risks relating to political, economic, or regulatory conditions in foreign countries. These risks include market/currency fluctuations, withholding or other taxes, trading, settlement, custodial, and other operational risks, and less stringent investor protection and disclosure standards in some foreign markets. All of these factors can make foreign investments, especially those in emerging markets, more volatile and potentially less liquid than U.S. investments. In addition, foreign markets may perform differently from the U.S. market.

Transactions in any option, future, commodity, or other derivative product is not suitable for all persons and accordingly, investors should be aware of the risks involved in trading in such instruments. Transactions in derivatives have the potential to increase liquidity risk and introduce other significant risk factors of a complex character. All securities trading, whether in stocks, options, or other investment vehicles, is speculative in nature and involves substantial risk of loss. No assurance, representation, or warranty is made by any person that any of the aims, assumptions, expectations, objectives, and/or goals stated herein will be achieved. Nothing contained in this material may be relied upon as a guarantee, promise, assurance, or representation as to the future.

Fixed income securities are subject to the risks associated with debt securities generally, including credit, liquidity and interest rate risk. High yield and lower-rated fixed income securities involve greater risk than investment-grade securities. Asset-backed, mortgage-backed or mortgage related securities are subject to additional risks such as prepayment and extension risks. High yield bonds possess greater price volatility, illiquidity, and possibility of default.

Equity investments are subject to market risk. The value of investment may fluctuate in response to the prospects of individual companies, particular sectors, and/or general market conditions. Investments in in speculative and/or small-cap, mid-cap and micro-cap companies may involve a higher degree of risk and volatility than investments in larger, more established companies, including such risks as lack of product diversification, potentially insufficient capital resources and greater exposure to business and economic cycles.

Portfolio Structure: Each client’s portfolio is individually managed and may vary from the information shown in terms of allocations, portfolio holdings, characteristics, and performance. Current and future portfolio compositions and performance may be significantly different. Any securities, sectors or allocations referenced may or may not be represented in portfolios of clients of Brandywine Global, and do not represent all of the securities purchased, sold, or recommended for client portfolios. The reader should not assume that any investments in securities, sectors and/or markets identified or described were or will be profitable or that similar investments will be available in the future.

Outlook: Economic and market forecasts presented herein reflect a series of assumptions and judgments as of the date of this material and are subject to change without notice. These forecasts do not take into account the specific investment objectives, restrictions, tax and financial situation or other needs of any specific client. Actual data will vary and may not be reflected herein. These forecasts are subject to high levels of uncertainty that can affect actual performance. Accordingly, these forecasts should be viewed as merely representative of a broad range of possible outcomes. These forecasts are estimated, based on assumptions, and are subject to significant revision and may change materially as economic and market conditions change. Certain information or statements contained herein may constitute a forward-looking statement. Forward- looking statements are predictive in nature and speak only as of the date they were made. Brandywine Global assumes no duty to and does not undertake to update forward-looking statements. Forward-looking statements refer to future events or conditions and are subject to a number of assumptions, risks and uncertainties that could cause actual results or events to differ materially from current expectations.

Third-Party Ratings: Any unpublished third-party rankings, awards or similar groupings have inherent limitations and qualifications, and are not indicative of the experience of any client or investor or of the future performance of any product described herein. There can be no assurance that the universe upon which the ratings or awards were based included all investment products within each category that are actually in operation or existence. The investment products on which the ratings were based may differ substantially in terms, objective, strategy, target risk return profile and certain other significant respects from those referenced herein.

Indices/Benchmarks: Indices are unmanaged and are not available for direct investment. Indices are not subject to fees and expenses typically associated with separate accounts or investments in funds. References to indices, benchmarks or other measures of relative market performance over a specified period of time are provided for your information only and do not imply that the portfolio will achieve similar results. The index composition may not reflect the manner in which a portfolio is constructed. While an adviser seeks to design a portfolio which reflects appropriate risk and return features, portfolio characteristics may deviate from those of the benchmark.

Selection of Representative Account: Representative accounts are generally the least restrictive account in a composite at the time of selection. Each client account is individually managed; individual holdings will vary for each account and there is no guarantee that a particular account will have the same characteristics as described. Actual results may vary for each client due to specific client guidelines, holdings, and other factors. In limited circumstances, the designated representative account may have changed over time, for reasons including, but not limited to, account termination, imposition of significant investment restrictions, or material asset size fluctuations.

Environmental, Social and Governance (“ESG”): This material discusses Brandywine Global’s current efforts to integrate responsible and sustainable investing principles into its investment process. Certain examples are provided herein for illustrative purposes only and are not intended to be representative of Brandywine Global’s investment process with respect to every investment. ESG investments may be viewed as “sustainable, “responsible”, or “socially conscious” among other names. Analysis and integration of ESG factors is qualitative and subjective by nature, and there is no guarantee that the ESG criteria used, or judgment exercised, by Brandywine Global will reflect the values of any one particular investor. Different investment managers may utilize and evaluate ESG factors in different ways. Investing in ESG investments carries the risk that under certain market conditions, the investment strategy may underperform strategies that do not utilize a responsible investment strategy. An investment’s ESG performance or Brandywine Global’s assessment of such performance may change over time. ESG is not a uniformly defined characteristic and information used to evaluate ESG characteristics may not be readily available, complete, or accurate, and may vary across providers and issuers. The ESG considerations assessed as part of the research and investment approval process may vary across eligible investments and not every ESG factor may be evaluated for every investment. There is no guarantee that the evaluation of ESG characteristics will be additive to a strategy or account’s performance.

This website and the information contained herein does not constitute and is not intended to constitute an offer of any kind, including securities and accordingly should not be construed as such. Any products or services referenced on this website are for informational purposes only and may not be licensed or permitted to be purchased in your jurisdiction, and unless otherwise indicated, no regulator or government authority has reviewed this website or the merits of the products and services referenced. The content of this website is intended for eligible institutional investors (as such term is defined in any given jurisdiction). Before acting on any information on this website you should be well informed of and observe all applicable laws, rules and regulations of your home jurisdiction and obtain independent advice if required.

Past performance is no guarantee of future results.