0001193125-12-496678.txt : 20121210 0001193125-12-496678.hdr.sgml : 20121210 20121210140620 ACCESSION NUMBER: 0001193125-12-496678 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20121210 DATE AS OF CHANGE: 20121210 EFFECTIVENESS DATE: 20121210 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LEGG MASON PARTNERS INCOME TRUST CENTRAL INDEX KEY: 0000764624 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 002-96408 FILM NUMBER: 121252699 BUSINESS ADDRESS: STREET 1: LEGG MASON & CO., LLC STREET 2: 55 WATER STREET, 32ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10004 BUSINESS PHONE: 800-451-2010 MAIL ADDRESS: STREET 1: LEGG MASON & CO., LLC STREET 2: 55 WATER STREET, 32ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10004 FORMER COMPANY: FORMER CONFORMED NAME: LEGG MASON PARTNERS INCOME FUNDS DATE OF NAME CHANGE: 20060407 FORMER COMPANY: FORMER CONFORMED NAME: SMITH BARNEY INCOME FUNDS DATE OF NAME CHANGE: 19941228 FORMER COMPANY: FORMER CONFORMED NAME: SMITH BARNEY SHEARSON INCOME FUNDS DATE OF NAME CHANGE: 19931015 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LEGG MASON PARTNERS INCOME TRUST CENTRAL INDEX KEY: 0000764624 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-04254 FILM NUMBER: 121252700 BUSINESS ADDRESS: STREET 1: LEGG MASON & CO., LLC STREET 2: 55 WATER STREET, 32ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10004 BUSINESS PHONE: 800-451-2010 MAIL ADDRESS: STREET 1: LEGG MASON & CO., LLC STREET 2: 55 WATER STREET, 32ND FLOOR CITY: NEW YORK STATE: NY ZIP: 10004 FORMER COMPANY: FORMER CONFORMED NAME: LEGG MASON PARTNERS INCOME FUNDS DATE OF NAME CHANGE: 20060407 FORMER COMPANY: FORMER CONFORMED NAME: SMITH BARNEY INCOME FUNDS DATE OF NAME CHANGE: 19941228 FORMER COMPANY: FORMER CONFORMED NAME: SMITH BARNEY SHEARSON INCOME FUNDS DATE OF NAME CHANGE: 19931015 0000764624 S000032916 Western Asset Short Term Yield Fund C000101594 Class FI C000101595 Class I WTYIX C000101596 Class IS 485BPOS 1 d434945d485bpos.htm LMP INCOME TRUST LMP INCOME TRUST

As filed with the U.S. Securities and Exchange Commission on December 10, 2012

Securities Act File No. 2-96408

Investment Company Act File No. 811-04254

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-1A

REGISTRATION STATEMENT

UNDER

   THE SECURITIES ACT OF 1933    x
   Pre-Effective Amendment No.    ¨
   Post-Effective Amendment No. 210    x
   and/or   
   REGISTRATION STATEMENT   
   UNDER   
   THE INVESTMENT COMPANY ACT OF 1940    x

Amendment No. 211

(Check appropriate box or boxes)

 

 

Legg Mason Partners Income Trust

(Exact Name of Registrant as Specified in Charter)

 

 

 

55 Water Street, New York, New York   10041
(Address of Principal Executive Offices)   (Zip Code)

 

 

Registrant’s Telephone Number, including Area Code (877) 721-1926

Robert I. Frenkel

Legg Mason Partners Income Trust

100 First Stamford Place

Stamford, Connecticut 06902

(Name and Address of Agent for Service)

 

 

COPY TO:

Roger P. Joseph, Esq.

Bingham McCutchen LLP

One Federal Street

Boston, Massachusetts 02110

 

 

Continuous

(Approximate Date of Proposed Offering)

 

 

It is proposed that this filing will become effective:

  x immediately upon filing pursuant to paragraph (b)
  ¨ on             pursuant to paragraph (b)
  ¨ 60 days after filing pursuant to paragraph (a)(1)
  ¨ on             pursuant to paragraph (a)(1)
  ¨ 75 days after filing pursuant to paragraph (a)(2)
  ¨ on             pursuant to paragraph (a)(2) of Rule 485.

If appropriate, check the following box:

  ¨ This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

This filing relates solely to Western Asset Short Term Yield Fund.

 

 

 


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended (the “Securities Act”), and the Investment Company Act of 1940, as amended, the Registrant, LEGG MASON PARTNERS INCOME TRUST, certifies that it meets all the requirements for effectiveness of this Post-Effective Amendment to the Registration Statement pursuant to Rule 485(b) under the Securities Act and has duly caused this Post-Effective Amendment to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York on this 10th day of December, 2012.

LEGG MASON PARTNERS INCOME TRUST, on behalf of its series:

Western Asset Short Term Yield Fund

 

By:  

/s/ R. Jay Gerken

  R. Jay Gerken
  President and Principal Executive Officer

WITNESS our hands on the date set forth below.

Pursuant to the requirements of the Securities Act, this Post-Effective Amendment to the Registration Statement has been signed below by the following persons in the capacities indicated below on December 10, 2012.

 

Signature

  

Title

/s/ R. Jay Gerken

   President, Principal Executive Officer and Trustee
R. Jay Gerken   

/s/ Richard F. Sennett

   Principal Financial Officer
Richard F. Sennett   

/s/ Elliott J. Berv*

   Trustee
Elliott J. Berv   

/s/ A. Benton Cocanougher*

   Trustee
A. Benton Cocanougher   

/s/ Jane F. Dasher*

   Trustee
Jane F. Dasher   

/s/ Mark T. Finn*

   Trustee
Mark T. Finn   

/s/ Stephen R. Gross*

   Trustee
Stephen R. Gross   

/s/ Richard E. Hanson, Jr.*

   Trustee
Richard E. Hanson, Jr.   

/s/ Diana R. Harrington*

   Trustee
Diana R. Harrington   


/s/ Susan M. Heilbron*

   Trustee
Susan M. Heilbron   

/s/ Susan B. Kerley*

   Trustee
Susan B. Kerley   

/s/ Alan G. Merten*

   Trustee
Alan G. Merten   

/s/ R. Richardson Pettit*

   Trustee

R. Richardson Pettit

  

 

*By:  

/s/ R. Jay Gerken

  R. Jay Gerken

 

* Attorney-in-Fact, pursuant to Power of Attorney.


Master Portfolio Trust has duly caused this Post-Effective Amendment to the Registration Statement on Form N-1A of Legg Mason Partners Income Trust to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York on this 10th day of December, 2012.

MASTER PORTFOLIO TRUST, on behalf of its series, Short Term Yield Portfolio.

 

By:  

/s/ R. Jay Gerken

  R. Jay Gerken
  President and Principal Executive Officer

WITNESS our hands on the date set forth below.

This Post-Effective Amendment to the Registration Statement has been signed below by the following persons in the capacities indicated below on December 10, 2012.

 

Signature

  

Title

/s/ R. Jay Gerken

R. Jay Gerken

   President, Principal Executive Officer and Trustee

/s/ Richard F. Sennett

Richard F. Sennett

   Principal Financial Officer

/s/ Elliott J. Berv*

Elliott J. Berv

   Trustee

/s/ A. Benton Cocanougher*

A. Benton Cocanougher

   Trustee

/s/ Jane F. Dasher*

Jane F. Dasher

   Trustee

/s/ Mark T. Finn*

Mark T. Finn

   Trustee

/s/ Stephen R. Gross*

Stephen R. Gross

   Trustee

/s/ Richard E. Hanson, Jr.*

Richard E. Hanson, Jr.

   Trustee

/s/ Diana R. Harrington*

Diana R. Harrington

   Trustee

/s/ Susan M. Heilbron*

Susan M. Heilbron

   Trustee

/s/ Susan B. Kerley*

Susan B. Kerley

   Trustee

/s/ Alan G. Merten*

Alan G. Merten

   Trustee

/s/ R. Richardson Pettit*

R. Richardson Pettit

   Trustee

 

*By:  

/s/ R. Jay Gerken

R. Jay Gerken

 

* Attorney-in-Fact, pursuant to Power of Attorney.


EXHIBIT INDEX

 

Index No.

  

Description of Exhibit

EX-101.INS    XBRL Instance Document
EX-101.SCH    XBRL Taxonomy Extension Schema Document
EX-101.CAL    XBRL Taxonomy Extension Calculation Linkbase
EX-101.DEF    XBRL Taxonomy Extension Definition Linkbase
EX-101.LAB    XBRL Taxonomy Extension Labels Linkbase
EX-101.PRE    XBRL Taxonomy Extension Presentation Linkbase
EX-101.INS 3 lgpit-20121120.xml XBRL INSTANCE DOCUMENT 0000764624 2011-11-29 2012-11-28 0000764624 lgpit:S000032916Member lgpit:C000101594Member 2011-11-29 2012-11-28 0000764624 lgpit:S000032916Member lgpit:C000101595Member 2011-11-29 2012-11-28 0000764624 lgpit:S000032916Member lgpit:C000101596Member 2011-11-29 2012-11-28 0000764624 lgpit:S000032916Member 2011-11-29 2012-11-28 pure iso4217:USD LEGG MASON PARTNERS INCOME TRUST 0000764624 485BPOS false 2012-07-31 2012-11-20 2012-11-28 2012-11-28 0 0 0 0 0 0 0.0025 0.0025 0.0025 0.0025 0 0 0.0046 0.0036 0.0026 0.0096 0.0061 0.0051 -0.0026 -0.0016 -0.0016 0.007 0.0045 0.0035 72 46 36 280 179 148 <div style="display:none">~ http://www.leggmason.com/role/ScheduleShareholderFeesWesternAssetShortTermYieldFund column period compact * ~</div> <div style="display:none">~ http://www.leggmason.com/role/ScheduleAnnualFundOperatingExpensesWesternAssetShortTermYieldFund column period compact * ~</div> <div style="display:none">~ http://www.leggmason.com/role/ScheduleExpenseExampleTransposedWesternAssetShortTermYieldFund column period compact * ~</div> <font style="FONT-FAMILY: ARIAL" color="#666666" size="6"> Western Asset</font><br /><font style="FONT-FAMILY: ARIAL" color="#508541" size="6">Short Term<br/> Yield Fund</font> <font style="FONT-FAMILY: Arial" color="#507642" size="6">Investment objective</font> <font style="FONT-FAMILY: ARIAL" color="#666666" size="3">The fund seeks current income. </font> <font style="FONT-FAMILY: Arial" color="#507642" size="6">Fees and expenses of the fund</font> <font style="FONT-FAMILY: ARIAL" color="#666666" size="2">The accompanying table describes the fees and expenses that you may pay if you buy and hold shares of the fund. </font> <font style="FONT-FAMILY: Arial" color="#507642" size="2"><b>Shareholder fees </b></font><font style="FONT-FAMILY: Arial" color="#507642" size="1">(fees paid directly from your investment)</font> <font style="FONT-FAMILY: Arial" color="#507642" size="2"><b>Annual fund operating expenses </b></font><font style="FONT-FAMILY: Arial" color="#507642" size="1">(expenses that you pay each year as a percentage of the value of <br/>your investment) (%)</font> <font style="FONT-FAMILY: Arial" color="#507642" size="2"><b>Portfolio turnover.</b></font> <font style="FONT-FAMILY: ARIAL" color="#666666" size="2"> The fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund&#8217;s performance. The fund is newly offered; therefore, it does not have a turnover rate to report for the most recent fiscal year. </font> <font style="FONT-FAMILY: Arial" color="#507642" size="2"><b>Example </b></font> <font style="FONT-FAMILY: Arial" size="2">This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes:</font><ul type="square"><li style="margin-left:-20px"><blockquote><font style="FONT-FAMILY: Arial" size="2">You invest $10,000 in the fund for the time periods indicated</font></blockquote></li></ul><ul type="square"><li style="margin-left:-20px"><blockquote><font style="FONT-FAMILY: Arial" size="2">Your investment has a 5% return each year and the fund&#8217;s operating expenses remain the same</font></blockquote></li></ul><ul type="square"><li style="margin-left:-20px"><blockquote><font style="FONT-FAMILY: Arial" size="2">You reinvest all distributions and dividends without a sales charge</font></blockquote></li></ul><font style="FONT-FAMILY: Arial" size="2">Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="FONT-FAMILY: Arial" color="#507642" size="2"><b>Number of years you own your shares ($) </b></font> <font style="FONT-FAMILY: Arial" color="#507642" size="6">Principal investment strategies</font> <font style="FONT-FAMILY: Arial" size="2">The fund invests in U.S. dollar denominated investment grade fixed income securities, including corporate debt securities, bank obligations, commercial paper, asset-backed and mortgage-backed securities, structured instruments and securities issued by the U.S. government and its agencies and instrumentalities, U.S. states and municipalities, or foreign governments. Foreign securities will generally be limited to issuers, including banks, corporations and foreign governments, located in the major industrialized countries.<br/><br/>The fund is not a money market fund and does not seek to maintain a stable net asset value of $1.00 per share.<br/><br/>Under normal circumstances, the effective duration of the fund&#8217;s portfolio, as estimated by the subadviser, is expected to be one year or less. Duration is a measure of the underlying portfolio&#8217;s price sensitivity to changes in prevailing interest rates. The assumptions that are made about a security&#8217;s features and options when calculating effective duration may prove to be incorrect. As a result, investors should be aware that effective duration is not an exact measurement and may not reliably predict a security&#8217;s price sensitivity to changes in yield or interest rates. <br/><br/>The fund expects to maintain a dollar-weighted average effective maturity of not more than 18 months, but in any event will maintain a dollar weighted average effective maturity of not more than three years. The &#8220;average effective portfolio maturity&#8221; of the fund is a weighted average of all the maturities of the securities in the portfolio, computed by weighting each security&#8217;s effective maturity, as estimated by the subadviser, by the market value of the security. For the purposes of determining the fund&#8217;s average effective maturity, a security&#8217;s maturity date will generally be deemed to be the next interest rate reset date for an adjustable rate security or, if earlier, the date of the next demand feature such as a put feature, when the fund would be entitled to receive payment of principal and interest. The subadviser may also take into account estimated future prepayments on securities, such as mortgage-backed securities, with uncertain future cash flows and estimations of call features and similar features and options. These estimates may prove to be incorrect. <br/><br/>In addition, the fund will not purchase a security if, at the time of purchase, the security has a remaining final maturity, taking into account demand features, but without taking into account any interest reset provisions, of more than five years, or, with respect to asset- or mortgage-backed securities, an average life of more than five years. Average life refers to the weighted average of the times at which principal repayments are expected to be fully repaid.<br/><br/>The fund invests only in securities that, at the time of purchase, are rated in one of the top three rating categories (which may include gradations within each category) or the equivalent short term rating by one or more rating agencies followed by the fund or, if unrated, are judged by the subadviser to be of comparable quality. <br/><br/>The fund may use instruments such as derivatives, including futures and option contracts, and synthetic instruments. The fund may use one or more types of these instruments without limit. The fund is permitted to engage in a variety of transactions using derivatives, but only for hedging purposes. For additional information regarding derivatives, see &#8220;More on the fund&#8217;s investment strategies, investments and risks&#8212;Derivatives&#8221; in this Prospectus. </font> <font style="FONT-FAMILY: Arial" color="#507642" size="6">Certain risks</font> <font style="FONT-FAMILY: Arial" color="#507642" size="6">Performance</font> <font style="FONT-FAMILY: ARIAL" color="#666666" size="2">The fund is newly offered. Once the fund has a performance record of at least one calendar year, the fund&#8217;s performance will be included in its Prospectus. The fund makes updated performance information available at the fund&#8217;s website, http://www.leggmason.com/individualinvestors/products/mutual-funds/annualized_performance (select share class), or by calling the fund at 1-877-721-1926. </font> <font style="FONT-FAMILY: ARIAL" color="#666666" size="1">&#8220;Other expenses&#8221; for Class FI shares, Class I shares and Class IS shares are estimated for the current fiscal year.</font> <font style="FONT-FAMILY: ARIAL" color="#666666" size="1">December 31, 2014</font> <font style="FONT-FAMILY: ARIAL" color="#666666" size="2">You may lose part or all of your investment in the fund or your investment may not perform as well as other similar investments.</font> <font style="FONT-FAMILY: ARIAL" color="#666666" size="2">The fund is newly offered. Once the fund has a performance record of at least one calendar year, the fund&#8217;s performance will be included in its Prospectus. </font> <font style="FONT-FAMILY: ARIAL" color="#666666" size="2">1-877-721-1926 </font> <font style="FONT-FAMILY: ARIAL" color="#666666" size="2">http://www.leggmason.com/individualinvestors/products/mutual-funds/annualized_performance (select share class)</font> <font style="FONT-FAMILY: ARIAL" color="#666666" size="2">Risk is inherent in all investing. There is no assurance that the fund will meet its investment objective. The value of your investment in the fund, as well as the amount of return you receive on your investment, may fluctuate significantly. You may lose part or all of your investment in the fund or your investment may not perform as well as other similar investments. The following is a summary description of certain risks of investing in the fund. </font><br/><br/> <font style="FONT-FAMILY: ARIAL" color="#508541" size="2"><b>Market and interest rate risk. </b> </font><font style="FONT-FAMILY: ARIAL" color="#666666" size="2">The market prices of the fund&#8217;s securities may go up or down, sometimes rapidly or unpredictably, due to general market conditions, such as real or perceived adverse economic or political conditions, inflation, changes in interest rates, lack of liquidity in the bond markets or adverse investor sentiment. When market prices fall, the value of your investment will go down. The value of your investment may also go down when interest rates rise. A rise in rates tends to have a greater impact on the prices of longer term or duration securities. The financial crisis that began in 2008 has caused a significant decline in the value and liquidity of many securities of issuers worldwide. Some governmental and non-governmental issuers (notably in Europe) have defaulted on, or been forced to restructure, their debts, and many other issuers have </font> <font style="FONT-FAMILY: ARIAL" color="#666666" size="2">faced difficulties obtaining credit. These market conditions may continue, worsen or spread, including in the United States, Europe and beyond. Further defaults or restructurings by governments and others of their debt could have additional adverse effects on economies, financial markets and asset valuations around the world. In response to the crisis, the U.S. and other governments and the Federal Reserve and certain foreign central banks have taken steps to support financial markets. The withdrawal of this support, failure of efforts in response to the crisis, or investor perception that these efforts are not succeeding could negatively affect financial markets generally as well as the value and liquidity of certain securities. Whether or not the fund invests in securities of issuers located in or with significant exposure to countries experiencing economic and financial difficulties, the value and liquidity of the fund&#8217;s investments may be negatively affected by the conditions in the countries experiencing the difficulties. In addition, policy and legislative changes in the United States and in other countries are changing many aspects of financial regulation. The impact of these changes on the markets, and the practical implications for market participants, may not be fully known for some time. </font><br/><br/> <font style="FONT-FAMILY: ARIAL" color="#508541" size="2"><b>Credit risk.</b> </font><font style="FONT-FAMILY: ARIAL" color="#666666" size="2"> If an issuer or guarantor of a security held by the fund or a counterparty to a financial contract with the fund defaults or is downgraded, or is perceived to be less creditworthy, or if the value of the assets underlying a security declines, the value of your investment will typically decline. Subordinated securities are more likely to suffer a credit loss than non-subordinated securities of the same issuer and will be disproportionately affected by a default, downgrade or perceived decline in creditworthiness. </font><br/><br/> <font style="FONT-FAMILY: ARIAL" color="#508541" size="2"><b>Derivatives risk. </b> </font><font style="FONT-FAMILY: ARIAL" color="#666666" size="2">Using derivatives can increase fund losses and reduce opportunities for gains when market prices, interest rates or the derivative instruments themselves behave in a way not anticipated by the fund. Using derivatives also can have a leveraging effect and increase fund volatility. Derivatives may be difficult to sell, unwind or value, and the counterparty may default on its obligations to the fund. Recent legislation calls for new regulation of the derivatives markets. The extent and impact of the regulation are not yet fully known and may not be for some time. New regulation of derivatives may make them more costly, may limit their availability, or may otherwise adversely affect their value or performance. </font><br/><br/> <font style="FONT-FAMILY: ARIAL" color="#508541" size="2"><b>Leveraging risk. </b> </font><font style="FONT-FAMILY: ARIAL" color="#666666" size="2">The value of your investment may be more volatile if the fund borrows or uses derivatives or other investments that have a leveraging effect on the fund&#8217;s portfolio. Other risks also will be compounded. This is because leverage generally magnifies the effect of a change in the value of an asset and creates a risk of loss of value on a larger pool of assets than the fund would otherwise have had, potentially resulting in the loss of all assets. The fund may also have to sell assets at inopportune times to satisfy its obligations. </font><br/><br/> <font style="FONT-FAMILY: ARIAL" color="#508541" size="2"><b>Liquidity risk. </b> </font><font style="FONT-FAMILY: ARIAL" color="#666666" size="2">Some securities held by the fund may be difficult to sell, or illiquid, particularly during times of market turmoil. Illiquid securities may also be difficult to value. If the fund is forced to sell an illiquid asset to meet redemption requests or other cash needs, the fund may be forced to sell at a loss. </font><br/><br/> <font style="FONT-FAMILY: ARIAL" color="#508541" size="2"><b>Foreign investments risk.</b> </font><font style="FONT-FAMILY: ARIAL" color="#666666" size="2"> The fund&#8217;s investments in securities of foreign issuers or issuers with significant exposure to foreign markets involve additional risk. Foreign countries in which the fund may invest may have markets that are less liquid, less regulated and more volatile than U.S. markets. The value of the fund&#8217;s investments may decline because of factors affecting the particular issuer as well as foreign markets and issuers generally, such as unfavorable government actions, and political or financial instability. Lack of information may also affect the value of these securities. </font><br/><br/> <font style="FONT-FAMILY: ARIAL" color="#508541" size="2"><b>Risk of increase in expenses.</b> </font><font style="FONT-FAMILY: ARIAL" color="#666666" size="2"> Your actual costs of investing in the fund may be higher than the expenses shown in &#8220;Annual fund operating expenses&#8221; for a variety of reasons. For example, expense ratios may be higher than those shown if a fee limitation is changed or terminated or if average net assets are lower than estimated. Net assets are more likely to decrease and fund expense ratios are more likely to increase when markets are volatile. </font><br/><br/> <font style="FONT-FAMILY: ARIAL" color="#508541" size="2"><b>Structured securities risk.</b> </font><font style="FONT-FAMILY: ARIAL" color="#666666" size="2"> The payment and credit qualities of structured securities derive from their underlying assets, and they may behave in ways not anticipated by the fund, or they may not receive tax, accounting or regulatory treatment anticipated by the fund. </font><br/><br/> <font style="FONT-FAMILY: ARIAL" color="#508541" size="2"><b>Prepayment or call risk. </b> </font><font style="FONT-FAMILY: ARIAL" color="#666666" size="2">Many issuers have a right to prepay their securities. If interest rates fall, an issuer may exercise this right. If this happens, the fund will be forced to reinvest prepayment proceeds at a time when yields on securities available in the market are </font><font style="FONT-FAMILY: ARIAL" color="#666666" size="2">lower than the yield on the prepaid security. The fund also may lose any premium it paid on the security. </font><br/><br/> <font style="FONT-FAMILY: ARIAL" color="#508541" size="2"><b>Extension risk. </b> </font><font style="FONT-FAMILY: ARIAL" color="#666666" size="2">If interest rates rise, repayments of fixed income securities may occur more slowly than anticipated by the market. This may drive the prices of these securities down because their interest rates are lower than the current interest rate and they remain outstanding longer. </font><br/><br/> <font style="FONT-FAMILY: ARIAL" color="#508541" size="2"><b>Valuation risk. </b></font><font style="FONT-FAMILY: ARIAL" color="#666666" size="2">The sales price the fund could receive for any particular portfolio investment may differ from the fund&#8217;s valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair value methodology. Investors who purchase or redeem fund shares on days when the fund is holding fair-valued securities may receive fewer or more shares or lower or higher redemption proceeds than they would have received if the fund had not fair-valued the security or had used a different valuation methodology. </font><br/><br/> <font style="FONT-FAMILY: ARIAL" color="#508541" size="2"><b>Risk of investing in fewer issuers. </b> </font><font style="FONT-FAMILY: ARIAL" color="#666666" size="2">To the extent the fund invests its assets in a small number of issuers, the fund will be more susceptible to negative events affecting those issuers. </font><br/><br/> <font style="FONT-FAMILY: ARIAL" color="#508541" size="2"><b>Portfolio turnover risk. </b> </font><font style="FONT-FAMILY: ARIAL" color="#666666" size="2">Active and frequent trading may increase a shareholder&#8217;s tax liability and transaction costs, which could detract from fund performance. </font><br/><br/> <font style="FONT-FAMILY: ARIAL" color="#508541" size="2"><b>Portfolio selection risk. </b> </font><font style="FONT-FAMILY: ARIAL" color="#666666" size="2">The value of your investment may decrease if the subadviser&#8217;s judgment about the quality, relative yield, value or market trends affecting a particular security, industry or sector, or about interest rates, is incorrect. </font><br/><br/> <font style="FONT-FAMILY: ARIAL" color="#508541" size="2"><b>Not a money market fund. </b> </font><font style="FONT-FAMILY: ARIAL" color="#666666" size="2">The fund is not a money market fund and is not subject to the strict rules that govern the quality, maturity, liquidity and other features of securities that money market funds may purchase. Under normal conditions, the fund&#8217;s investment may be more susceptible than a money market fund to interest rate risk, valuation risk, credit risk and other risks relevant to the fund&#8217;s investments. The fund does not attempt to maintain a stable net asset value. Therefore, the fund&#8217;s net asset value per share will fluctuate. </font><br/><br/> <font style="FONT-FAMILY: ARIAL" color="#666666" size="2">These risks are discussed in more detail later in this Prospectus or in the Statement of Additional Information (&#8220;SAI&#8221;). </font> <font style="FONT-FAMILY: ARIAL" color="#666666" size="2">The fund invests in securities through an underlying fund: Short Term Yield Portfolio. The information above reflects the direct expenses of the fund and its allocated share of expenses of Short Term Yield Portfolio. </font> <font style="FONT-FAMILY: ARIAL" color="#666666" size="2">The fund invests in securities through an underlying fund: Short Term Yield Portfolio. The information above reflects the direct expenses of the fund and its allocated share of expenses of Short Term Yield Portfolio. </font> "Other expenses" for Class FI shares, Class I shares and Class IS shares are estimated for the current fiscal year. Actual expenses may differ from estimates. The manager has agreed to waive fees and/or reimburse operating expenses (other than interest, brokerage, taxes, extraordinary expenses and acquired fund fees and expenses) so that total annual operating expenses are not expected to exceed 0.70% for Class FI shares, 0.45% for Class I shares and 0.35% for Class IS shares. These arrangements cannot be terminated prior to December 31, 2014 without the Board of Trustees' consent. The manager is permitted to recapture amounts waived and/or reimbursed to a class during the same fiscal year if the class' total annual operating expenses have fallen to a level below the limits described above. 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Western Asset Short Term Yield Fund
Western Asset
Short Term
Yield Fund
Investment objective
The fund seeks current income.
Fees and expenses of the fund
The accompanying table describes the fees and expenses that you may pay if you buy and hold shares of the fund.
Shareholder fees (fees paid directly from your investment)
Shareholder Fees Western Asset Short Term Yield Fund
Class FI
Class I
Class IS
Maximum sales charge (load) imposed on purchases none none none
Maximum deferred sales charge (load) none none none
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of
your investment) (%)
Annual Fund Operating Expenses Western Asset Short Term Yield Fund
Class FI
Class I
Class IS
Management fees 0.25% 0.25% 0.25%
Distribution and service (12b-1) fees 0.25% none none
Other expenses [1] 0.46% 0.36% 0.26%
Total annual fund operating expenses 0.96% 0.61% 0.51%
Fees waived and/or expenses reimbursed [2] (0.26%) (0.16%) (0.16%)
Total annual fund operating expenses after waiving fees and/or reimbursing expenses 0.70% 0.45% 0.35%
[1] "Other expenses" for Class FI shares, Class I shares and Class IS shares are estimated for the current fiscal year. Actual expenses may differ from estimates.
[2] The manager has agreed to waive fees and/or reimburse operating expenses (other than interest, brokerage, taxes, extraordinary expenses and acquired fund fees and expenses) so that total annual operating expenses are not expected to exceed 0.70% for Class FI shares, 0.45% for Class I shares and 0.35% for Class IS shares. These arrangements cannot be terminated prior to December 31, 2014 without the Board of Trustees' consent. The manager is permitted to recapture amounts waived and/or reimbursed to a class during the same fiscal year if the class' total annual operating expenses have fallen to a level below the limits described above.
Example
This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes:
  • You invest $10,000 in the fund for the time periods indicated
  • Your investment has a 5% return each year and the fund’s operating expenses remain the same
  • You reinvest all distributions and dividends without a sales charge
Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Number of years you own your shares ($)
Expense Example Western Asset Short Term Yield Fund (USD $)
1 year
3 years
Class FI
72 280
Class I
46 179
Class IS
36 148
The fund invests in securities through an underlying fund: Short Term Yield Portfolio. The information above reflects the direct expenses of the fund and its allocated share of expenses of Short Term Yield Portfolio.
Portfolio turnover.
The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. The fund is newly offered; therefore, it does not have a turnover rate to report for the most recent fiscal year.
Principal investment strategies
The fund invests in U.S. dollar denominated investment grade fixed income securities, including corporate debt securities, bank obligations, commercial paper, asset-backed and mortgage-backed securities, structured instruments and securities issued by the U.S. government and its agencies and instrumentalities, U.S. states and municipalities, or foreign governments. Foreign securities will generally be limited to issuers, including banks, corporations and foreign governments, located in the major industrialized countries.

The fund is not a money market fund and does not seek to maintain a stable net asset value of $1.00 per share.

Under normal circumstances, the effective duration of the fund’s portfolio, as estimated by the subadviser, is expected to be one year or less. Duration is a measure of the underlying portfolio’s price sensitivity to changes in prevailing interest rates. The assumptions that are made about a security’s features and options when calculating effective duration may prove to be incorrect. As a result, investors should be aware that effective duration is not an exact measurement and may not reliably predict a security’s price sensitivity to changes in yield or interest rates.

The fund expects to maintain a dollar-weighted average effective maturity of not more than 18 months, but in any event will maintain a dollar weighted average effective maturity of not more than three years. The “average effective portfolio maturity” of the fund is a weighted average of all the maturities of the securities in the portfolio, computed by weighting each security’s effective maturity, as estimated by the subadviser, by the market value of the security. For the purposes of determining the fund’s average effective maturity, a security’s maturity date will generally be deemed to be the next interest rate reset date for an adjustable rate security or, if earlier, the date of the next demand feature such as a put feature, when the fund would be entitled to receive payment of principal and interest. The subadviser may also take into account estimated future prepayments on securities, such as mortgage-backed securities, with uncertain future cash flows and estimations of call features and similar features and options. These estimates may prove to be incorrect.

In addition, the fund will not purchase a security if, at the time of purchase, the security has a remaining final maturity, taking into account demand features, but without taking into account any interest reset provisions, of more than five years, or, with respect to asset- or mortgage-backed securities, an average life of more than five years. Average life refers to the weighted average of the times at which principal repayments are expected to be fully repaid.

The fund invests only in securities that, at the time of purchase, are rated in one of the top three rating categories (which may include gradations within each category) or the equivalent short term rating by one or more rating agencies followed by the fund or, if unrated, are judged by the subadviser to be of comparable quality.

The fund may use instruments such as derivatives, including futures and option contracts, and synthetic instruments. The fund may use one or more types of these instruments without limit. The fund is permitted to engage in a variety of transactions using derivatives, but only for hedging purposes. For additional information regarding derivatives, see “More on the fund’s investment strategies, investments and risks—Derivatives” in this Prospectus.
Certain risks
Risk is inherent in all investing. There is no assurance that the fund will meet its investment objective. The value of your investment in the fund, as well as the amount of return you receive on your investment, may fluctuate significantly. You may lose part or all of your investment in the fund or your investment may not perform as well as other similar investments. The following is a summary description of certain risks of investing in the fund.

Market and interest rate risk. The market prices of the fund’s securities may go up or down, sometimes rapidly or unpredictably, due to general market conditions, such as real or perceived adverse economic or political conditions, inflation, changes in interest rates, lack of liquidity in the bond markets or adverse investor sentiment. When market prices fall, the value of your investment will go down. The value of your investment may also go down when interest rates rise. A rise in rates tends to have a greater impact on the prices of longer term or duration securities. The financial crisis that began in 2008 has caused a significant decline in the value and liquidity of many securities of issuers worldwide. Some governmental and non-governmental issuers (notably in Europe) have defaulted on, or been forced to restructure, their debts, and many other issuers have faced difficulties obtaining credit. These market conditions may continue, worsen or spread, including in the United States, Europe and beyond. Further defaults or restructurings by governments and others of their debt could have additional adverse effects on economies, financial markets and asset valuations around the world. In response to the crisis, the U.S. and other governments and the Federal Reserve and certain foreign central banks have taken steps to support financial markets. The withdrawal of this support, failure of efforts in response to the crisis, or investor perception that these efforts are not succeeding could negatively affect financial markets generally as well as the value and liquidity of certain securities. Whether or not the fund invests in securities of issuers located in or with significant exposure to countries experiencing economic and financial difficulties, the value and liquidity of the fund’s investments may be negatively affected by the conditions in the countries experiencing the difficulties. In addition, policy and legislative changes in the United States and in other countries are changing many aspects of financial regulation. The impact of these changes on the markets, and the practical implications for market participants, may not be fully known for some time.

Credit risk. If an issuer or guarantor of a security held by the fund or a counterparty to a financial contract with the fund defaults or is downgraded, or is perceived to be less creditworthy, or if the value of the assets underlying a security declines, the value of your investment will typically decline. Subordinated securities are more likely to suffer a credit loss than non-subordinated securities of the same issuer and will be disproportionately affected by a default, downgrade or perceived decline in creditworthiness.

Derivatives risk. Using derivatives can increase fund losses and reduce opportunities for gains when market prices, interest rates or the derivative instruments themselves behave in a way not anticipated by the fund. Using derivatives also can have a leveraging effect and increase fund volatility. Derivatives may be difficult to sell, unwind or value, and the counterparty may default on its obligations to the fund. Recent legislation calls for new regulation of the derivatives markets. The extent and impact of the regulation are not yet fully known and may not be for some time. New regulation of derivatives may make them more costly, may limit their availability, or may otherwise adversely affect their value or performance.

Leveraging risk. The value of your investment may be more volatile if the fund borrows or uses derivatives or other investments that have a leveraging effect on the fund’s portfolio. Other risks also will be compounded. This is because leverage generally magnifies the effect of a change in the value of an asset and creates a risk of loss of value on a larger pool of assets than the fund would otherwise have had, potentially resulting in the loss of all assets. The fund may also have to sell assets at inopportune times to satisfy its obligations.

Liquidity risk. Some securities held by the fund may be difficult to sell, or illiquid, particularly during times of market turmoil. Illiquid securities may also be difficult to value. If the fund is forced to sell an illiquid asset to meet redemption requests or other cash needs, the fund may be forced to sell at a loss.

Foreign investments risk. The fund’s investments in securities of foreign issuers or issuers with significant exposure to foreign markets involve additional risk. Foreign countries in which the fund may invest may have markets that are less liquid, less regulated and more volatile than U.S. markets. The value of the fund’s investments may decline because of factors affecting the particular issuer as well as foreign markets and issuers generally, such as unfavorable government actions, and political or financial instability. Lack of information may also affect the value of these securities.

Risk of increase in expenses. Your actual costs of investing in the fund may be higher than the expenses shown in “Annual fund operating expenses” for a variety of reasons. For example, expense ratios may be higher than those shown if a fee limitation is changed or terminated or if average net assets are lower than estimated. Net assets are more likely to decrease and fund expense ratios are more likely to increase when markets are volatile.

Structured securities risk. The payment and credit qualities of structured securities derive from their underlying assets, and they may behave in ways not anticipated by the fund, or they may not receive tax, accounting or regulatory treatment anticipated by the fund.

Prepayment or call risk. Many issuers have a right to prepay their securities. If interest rates fall, an issuer may exercise this right. If this happens, the fund will be forced to reinvest prepayment proceeds at a time when yields on securities available in the market are lower than the yield on the prepaid security. The fund also may lose any premium it paid on the security.

Extension risk. If interest rates rise, repayments of fixed income securities may occur more slowly than anticipated by the market. This may drive the prices of these securities down because their interest rates are lower than the current interest rate and they remain outstanding longer.

Valuation risk. The sales price the fund could receive for any particular portfolio investment may differ from the fund’s valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair value methodology. Investors who purchase or redeem fund shares on days when the fund is holding fair-valued securities may receive fewer or more shares or lower or higher redemption proceeds than they would have received if the fund had not fair-valued the security or had used a different valuation methodology.

Risk of investing in fewer issuers. To the extent the fund invests its assets in a small number of issuers, the fund will be more susceptible to negative events affecting those issuers.

Portfolio turnover risk. Active and frequent trading may increase a shareholder’s tax liability and transaction costs, which could detract from fund performance.

Portfolio selection risk. The value of your investment may decrease if the subadviser’s judgment about the quality, relative yield, value or market trends affecting a particular security, industry or sector, or about interest rates, is incorrect.

Not a money market fund. The fund is not a money market fund and is not subject to the strict rules that govern the quality, maturity, liquidity and other features of securities that money market funds may purchase. Under normal conditions, the fund’s investment may be more susceptible than a money market fund to interest rate risk, valuation risk, credit risk and other risks relevant to the fund’s investments. The fund does not attempt to maintain a stable net asset value. Therefore, the fund’s net asset value per share will fluctuate.

These risks are discussed in more detail later in this Prospectus or in the Statement of Additional Information (“SAI”).
Performance
The fund is newly offered. Once the fund has a performance record of at least one calendar year, the fund’s performance will be included in its Prospectus. The fund makes updated performance information available at the fund’s website, http://www.leggmason.com/individualinvestors/products/mutual-funds/annualized_performance (select share class), or by calling the fund at 1-877-721-1926.

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Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName LEGG MASON PARTNERS INCOME TRUST
Prospectus Date rr_ProspectusDate Nov. 28, 2012
Western Asset Short Term Yield Fund
 
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Western Asset
Short Term
Yield Fund
Objective [Heading] rr_ObjectiveHeading Investment objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The fund seeks current income.
Expense [Heading] rr_ExpenseHeading Fees and expenses of the fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The accompanying table describes the fees and expenses that you may pay if you buy and hold shares of the fund.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual fund operating expenses (expenses that you pay each year as a percentage of the value of
your investment) (%)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination December 31, 2014
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio turnover.
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. The fund is newly offered; therefore, it does not have a turnover rate to report for the most recent fiscal year.
Expenses Represent Both Master and Feeder [Text] rr_ExpensesRepresentBothMasterAndFeeder The fund invests in securities through an underlying fund: Short Term Yield Portfolio. The information above reflects the direct expenses of the fund and its allocated share of expenses of Short Term Yield Portfolio.
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates “Other expenses” for Class FI shares, Class I shares and Class IS shares are estimated for the current fiscal year.
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes:
  • You invest $10,000 in the fund for the time periods indicated
  • Your investment has a 5% return each year and the fund’s operating expenses remain the same
  • You reinvest all distributions and dividends without a sales charge
Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Number of years you own your shares ($)
Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock The fund invests in securities through an underlying fund: Short Term Yield Portfolio. The information above reflects the direct expenses of the fund and its allocated share of expenses of Short Term Yield Portfolio.
Strategy [Heading] rr_StrategyHeading Principal investment strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The fund invests in U.S. dollar denominated investment grade fixed income securities, including corporate debt securities, bank obligations, commercial paper, asset-backed and mortgage-backed securities, structured instruments and securities issued by the U.S. government and its agencies and instrumentalities, U.S. states and municipalities, or foreign governments. Foreign securities will generally be limited to issuers, including banks, corporations and foreign governments, located in the major industrialized countries.

The fund is not a money market fund and does not seek to maintain a stable net asset value of $1.00 per share.

Under normal circumstances, the effective duration of the fund’s portfolio, as estimated by the subadviser, is expected to be one year or less. Duration is a measure of the underlying portfolio’s price sensitivity to changes in prevailing interest rates. The assumptions that are made about a security’s features and options when calculating effective duration may prove to be incorrect. As a result, investors should be aware that effective duration is not an exact measurement and may not reliably predict a security’s price sensitivity to changes in yield or interest rates.

The fund expects to maintain a dollar-weighted average effective maturity of not more than 18 months, but in any event will maintain a dollar weighted average effective maturity of not more than three years. The “average effective portfolio maturity” of the fund is a weighted average of all the maturities of the securities in the portfolio, computed by weighting each security’s effective maturity, as estimated by the subadviser, by the market value of the security. For the purposes of determining the fund’s average effective maturity, a security’s maturity date will generally be deemed to be the next interest rate reset date for an adjustable rate security or, if earlier, the date of the next demand feature such as a put feature, when the fund would be entitled to receive payment of principal and interest. The subadviser may also take into account estimated future prepayments on securities, such as mortgage-backed securities, with uncertain future cash flows and estimations of call features and similar features and options. These estimates may prove to be incorrect.

In addition, the fund will not purchase a security if, at the time of purchase, the security has a remaining final maturity, taking into account demand features, but without taking into account any interest reset provisions, of more than five years, or, with respect to asset- or mortgage-backed securities, an average life of more than five years. Average life refers to the weighted average of the times at which principal repayments are expected to be fully repaid.

The fund invests only in securities that, at the time of purchase, are rated in one of the top three rating categories (which may include gradations within each category) or the equivalent short term rating by one or more rating agencies followed by the fund or, if unrated, are judged by the subadviser to be of comparable quality.

The fund may use instruments such as derivatives, including futures and option contracts, and synthetic instruments. The fund may use one or more types of these instruments without limit. The fund is permitted to engage in a variety of transactions using derivatives, but only for hedging purposes. For additional information regarding derivatives, see “More on the fund’s investment strategies, investments and risks—Derivatives” in this Prospectus.
Risk [Heading] rr_RiskHeading Certain risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Risk is inherent in all investing. There is no assurance that the fund will meet its investment objective. The value of your investment in the fund, as well as the amount of return you receive on your investment, may fluctuate significantly. You may lose part or all of your investment in the fund or your investment may not perform as well as other similar investments. The following is a summary description of certain risks of investing in the fund.

Market and interest rate risk. The market prices of the fund’s securities may go up or down, sometimes rapidly or unpredictably, due to general market conditions, such as real or perceived adverse economic or political conditions, inflation, changes in interest rates, lack of liquidity in the bond markets or adverse investor sentiment. When market prices fall, the value of your investment will go down. The value of your investment may also go down when interest rates rise. A rise in rates tends to have a greater impact on the prices of longer term or duration securities. The financial crisis that began in 2008 has caused a significant decline in the value and liquidity of many securities of issuers worldwide. Some governmental and non-governmental issuers (notably in Europe) have defaulted on, or been forced to restructure, their debts, and many other issuers have faced difficulties obtaining credit. These market conditions may continue, worsen or spread, including in the United States, Europe and beyond. Further defaults or restructurings by governments and others of their debt could have additional adverse effects on economies, financial markets and asset valuations around the world. In response to the crisis, the U.S. and other governments and the Federal Reserve and certain foreign central banks have taken steps to support financial markets. The withdrawal of this support, failure of efforts in response to the crisis, or investor perception that these efforts are not succeeding could negatively affect financial markets generally as well as the value and liquidity of certain securities. Whether or not the fund invests in securities of issuers located in or with significant exposure to countries experiencing economic and financial difficulties, the value and liquidity of the fund’s investments may be negatively affected by the conditions in the countries experiencing the difficulties. In addition, policy and legislative changes in the United States and in other countries are changing many aspects of financial regulation. The impact of these changes on the markets, and the practical implications for market participants, may not be fully known for some time.

Credit risk. If an issuer or guarantor of a security held by the fund or a counterparty to a financial contract with the fund defaults or is downgraded, or is perceived to be less creditworthy, or if the value of the assets underlying a security declines, the value of your investment will typically decline. Subordinated securities are more likely to suffer a credit loss than non-subordinated securities of the same issuer and will be disproportionately affected by a default, downgrade or perceived decline in creditworthiness.

Derivatives risk. Using derivatives can increase fund losses and reduce opportunities for gains when market prices, interest rates or the derivative instruments themselves behave in a way not anticipated by the fund. Using derivatives also can have a leveraging effect and increase fund volatility. Derivatives may be difficult to sell, unwind or value, and the counterparty may default on its obligations to the fund. Recent legislation calls for new regulation of the derivatives markets. The extent and impact of the regulation are not yet fully known and may not be for some time. New regulation of derivatives may make them more costly, may limit their availability, or may otherwise adversely affect their value or performance.

Leveraging risk. The value of your investment may be more volatile if the fund borrows or uses derivatives or other investments that have a leveraging effect on the fund’s portfolio. Other risks also will be compounded. This is because leverage generally magnifies the effect of a change in the value of an asset and creates a risk of loss of value on a larger pool of assets than the fund would otherwise have had, potentially resulting in the loss of all assets. The fund may also have to sell assets at inopportune times to satisfy its obligations.

Liquidity risk. Some securities held by the fund may be difficult to sell, or illiquid, particularly during times of market turmoil. Illiquid securities may also be difficult to value. If the fund is forced to sell an illiquid asset to meet redemption requests or other cash needs, the fund may be forced to sell at a loss.

Foreign investments risk. The fund’s investments in securities of foreign issuers or issuers with significant exposure to foreign markets involve additional risk. Foreign countries in which the fund may invest may have markets that are less liquid, less regulated and more volatile than U.S. markets. The value of the fund’s investments may decline because of factors affecting the particular issuer as well as foreign markets and issuers generally, such as unfavorable government actions, and political or financial instability. Lack of information may also affect the value of these securities.

Risk of increase in expenses. Your actual costs of investing in the fund may be higher than the expenses shown in “Annual fund operating expenses” for a variety of reasons. For example, expense ratios may be higher than those shown if a fee limitation is changed or terminated or if average net assets are lower than estimated. Net assets are more likely to decrease and fund expense ratios are more likely to increase when markets are volatile.

Structured securities risk. The payment and credit qualities of structured securities derive from their underlying assets, and they may behave in ways not anticipated by the fund, or they may not receive tax, accounting or regulatory treatment anticipated by the fund.

Prepayment or call risk. Many issuers have a right to prepay their securities. If interest rates fall, an issuer may exercise this right. If this happens, the fund will be forced to reinvest prepayment proceeds at a time when yields on securities available in the market are lower than the yield on the prepaid security. The fund also may lose any premium it paid on the security.

Extension risk. If interest rates rise, repayments of fixed income securities may occur more slowly than anticipated by the market. This may drive the prices of these securities down because their interest rates are lower than the current interest rate and they remain outstanding longer.

Valuation risk. The sales price the fund could receive for any particular portfolio investment may differ from the fund’s valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair value methodology. Investors who purchase or redeem fund shares on days when the fund is holding fair-valued securities may receive fewer or more shares or lower or higher redemption proceeds than they would have received if the fund had not fair-valued the security or had used a different valuation methodology.

Risk of investing in fewer issuers. To the extent the fund invests its assets in a small number of issuers, the fund will be more susceptible to negative events affecting those issuers.

Portfolio turnover risk. Active and frequent trading may increase a shareholder’s tax liability and transaction costs, which could detract from fund performance.

Portfolio selection risk. The value of your investment may decrease if the subadviser’s judgment about the quality, relative yield, value or market trends affecting a particular security, industry or sector, or about interest rates, is incorrect.

Not a money market fund. The fund is not a money market fund and is not subject to the strict rules that govern the quality, maturity, liquidity and other features of securities that money market funds may purchase. Under normal conditions, the fund’s investment may be more susceptible than a money market fund to interest rate risk, valuation risk, credit risk and other risks relevant to the fund’s investments. The fund does not attempt to maintain a stable net asset value. Therefore, the fund’s net asset value per share will fluctuate.

These risks are discussed in more detail later in this Prospectus or in the Statement of Additional Information (“SAI”).
Risk Lose Money [Text] rr_RiskLoseMoney You may lose part or all of your investment in the fund or your investment may not perform as well as other similar investments.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The fund is newly offered. Once the fund has a performance record of at least one calendar year, the fund’s performance will be included in its Prospectus. The fund makes updated performance information available at the fund’s website, http://www.leggmason.com/individualinvestors/products/mutual-funds/annualized_performance (select share class), or by calling the fund at 1-877-721-1926.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess The fund is newly offered. Once the fund has a performance record of at least one calendar year, the fund’s performance will be included in its Prospectus.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-877-721-1926
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress http://www.leggmason.com/individualinvestors/products/mutual-funds/annualized_performance (select share class)
Western Asset Short Term Yield Fund | Class FI
 
Risk/Return: rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Management fees rr_ManagementFeesOverAssets 0.25%
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.46% [1]
Total annual fund operating expenses rr_ExpensesOverAssets 0.96%
Fees waived and/or expenses reimbursed rr_FeeWaiverOrReimbursementOverAssets (0.26%) [2]
Total annual fund operating expenses after waiving fees and/or reimbursing expenses rr_NetExpensesOverAssets 0.70%
1 year rr_ExpenseExampleYear01 72
3 years rr_ExpenseExampleYear03 280
Western Asset Short Term Yield Fund | Class I
 
Risk/Return: rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Management fees rr_ManagementFeesOverAssets 0.25%
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.36% [1]
Total annual fund operating expenses rr_ExpensesOverAssets 0.61%
Fees waived and/or expenses reimbursed rr_FeeWaiverOrReimbursementOverAssets (0.16%) [2]
Total annual fund operating expenses after waiving fees and/or reimbursing expenses rr_NetExpensesOverAssets 0.45%
1 year rr_ExpenseExampleYear01 46
3 years rr_ExpenseExampleYear03 179
Western Asset Short Term Yield Fund | Class IS
 
Risk/Return: rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Management fees rr_ManagementFeesOverAssets 0.25%
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.26% [1]
Total annual fund operating expenses rr_ExpensesOverAssets 0.51%
Fees waived and/or expenses reimbursed rr_FeeWaiverOrReimbursementOverAssets (0.16%) [2]
Total annual fund operating expenses after waiving fees and/or reimbursing expenses rr_NetExpensesOverAssets 0.35%
1 year rr_ExpenseExampleYear01 36
3 years rr_ExpenseExampleYear03 148
[1] "Other expenses" for Class FI shares, Class I shares and Class IS shares are estimated for the current fiscal year. Actual expenses may differ from estimates.
[2] The manager has agreed to waive fees and/or reimburse operating expenses (other than interest, brokerage, taxes, extraordinary expenses and acquired fund fees and expenses) so that total annual operating expenses are not expected to exceed 0.70% for Class FI shares, 0.45% for Class I shares and 0.35% for Class IS shares. These arrangements cannot be terminated prior to December 31, 2014 without the Board of Trustees' consent. The manager is permitted to recapture amounts waived and/or reimbursed to a class during the same fiscal year if the class' total annual operating expenses have fallen to a level below the limits described above.
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