Managed High Yield Plus Fund Inc. Reports Earnings
15 April 2008 - 6:09AM
Business Wire
Managed High Yield Plus Fund Inc. (NYSE: HYF), a closed-end
management investment company seeking high income, and secondarily,
capital appreciation, primarily through investments in lower-rated,
income-producing debt and related equity securities, today
announced its performance for the third quarter and fiscal
year-to-date ended February 29, 2008. For the third quarter ended
February 29, 2008, the Fund's earnings from net investment income
were $7,583,602, equal to $0.12 per share. Total net realized and
unrealized losses from investment activities were $(35,654,875),
equal to $(0.58) per share, for the same period. This compares to
earnings from net investment income of $8,000,962, equal to $0.13
per share, and total net realized and unrealized gains from
investment activities of $7,859,584, equal to $0.13 per share, for
the third quarter ended February 28, 2007. For the nine months
ended February 29, 2008, the Fund's earnings from net investment
income were $22,627,522, equal to $0.37 per share. Total net
realized and unrealized losses from investment activities were
$(82,239,222), equal to $(1.35) per share, for the same period.
This compares to earnings from net investment income of
$23,850,177, equal to $0.39 per share, and total net realized and
unrealized gains from investment activities of $6,790,444, equal to
$0.11 per share, for the nine months ended February 28, 2007. On
February 29, 2008, net assets of the Fund were $218,350,488. The
net asset value per share was $3.57, based on 61,118,730 shares
outstanding, which represents a decrease of 27.73% from the net
asset value per share of $4.94 ($300,474,125 applicable to
60,790,573 shares outstanding) on February 28, 2007.
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