MHY Western Asset Managed High Income Fund, Inc.

Western Asset Managed High Income Fund Inc. (NYSE:MHY) announces its portfolio composition as of September 30, 2013.

Investment Objective: The Fund’s primary investment objective is high current income. Capital appreciation is a secondary objective.

 

Portfolio Composition*:

 

Asset Allocation

High Yield Corporate Bonds

84.1%

Investment Grade Corporate Bonds

10.9%

Bank Loans

1.9%

Emerging Market Debt

0.8%

Corporates External Currency

0.8%

Cash & Other Securities

2.3%  

Credit Quality Allocation**

A 0.2% BBB 5.6% BB 13.9% B 42.8% CCC 33.1% CC 0.3% D 0.1% Not Rated 4.1%  

Top Ten High Yield Industries

Communications 14.7% Consumer Non Cyclical 11.7% Consumer Cyclical 11.7% Basic Industry 9.9% Energy 9.1% Capital Goods 7.5% Transportation 7.2% Electric 4.5% Technology 1.7% Finance Companies 1.6%  

Top Emerging Market Countries

South Africa 0.4% Brazil 0.3% Indonesia 0.1%  

Average Life (years)

6.0

Effective Duration (years)

4.1

Average Coupon (%)

8.4  

Portfolio Statistics:

 

Inception Date

 

March 26, 1993

Inception Price

 

$12.00

Total Assets***

 

$299,105,780

Net Assets

 

$289,894,249

Loans

0.00%

Preferred Shares

0.00%

Reverse Repos

0.00%  

Market Price

 

$5.69

NAV

 

$6.14

(Daily NAV is available on market quotation systems using the symbol XMHYX.)  

Distribution Rate

$0.0370 per share

Frequency

Monthly (Declared quarterly, paid monthly)

  *   Portfolio holdings and weightings are historical and are presented here for informational purposes only. They are subject to change at any time. **

Credit quality is a measure of a bond issuer's ability to repay interest and principal in a timely manner. The credit ratings shown are based on each portfolio security’s rating as provided by Standard and Poor’s, Moody’s Investors Service and/or Fitch Ratings, Ltd. and typically range from AAA (highest) to D (lowest), or an equivalent and/or similar rating. For this purpose, when two or more of the agencies have assigned differing ratings to a security, the lowest rating is used. Securities that are unrated by all three agencies are reflected as such. The credit quality of the investments in the Fund's portfolio does not apply to the stability or safety of the Fund. These ratings are updated monthly and may change over time. Please note, the Fund itself has not been rated by an independent rating agency.

*** The difference between total assets and net assets, if any, is due primarily to the Fund’s use of borrowings; net assets do not include borrowings. The Fund may employ leverage in the form of loans, preferred stock, reverse repurchase agreements and/or other instruments. When the Fund engages in transactions that have a leveraging effect on the Fund’s portfolio, the value of the Fund will be more volatile and all other risks will tend to be compounded.  

Western Asset Managed High Income Fund Inc., a diversified closed-end investment management company, is advised by Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc., and is sub-advised by Western Asset Management Company, an affiliate of the advisor.

An investment in the Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate. Fixed income securities are subject to credit risk, inflation risk, call risk, and interest rate risks. As interest rates rise, bond prices fall, reducing the value of the Fund's share price. High yield or "junk bonds" are subject to additional risks.

Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Fund.

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Western Asset Managed High Income Fund Inc.Fund Investor Relations888-777-0102www.leggmason.com/cef