Western Asset Managed High Income Fund Inc. Portfolio Composition as of September 30, 2015
31 October 2015 - 5:47AM
Business Wire
Western Asset Managed High Income Fund Inc. (NYSE: MHY)
announces its portfolio composition as of September 30, 2015.
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
82.0%
Investment Grade Corporate Bonds
6.4%
Government
4.0%
Emerging Market Debt
2.5%
Corporates External Currency
2.5%
Bank Loans
2.2%
Mortgage-Backed Securities
0.4%
Cash & Other Securities
2.4%
Credit Quality
Allocation**
AA
4.0%
BBB
6.5%
BB
18.0%
B
41.3%
CCC
23.9%
C
0.4%
D
0.7%
Not Rated
5.2%
Top Ten High
Yield Industries
Communications
15.5%
Consumer Cyclical
12.1%
Consumer Non Cyclical
11.3%
Energy
10.1%
Capital Goods
6.2%
Basic Industry
5.5%
Banking
4.9%
Transportation
4.6%
Finance Companies
4.0%
Electric
2.7%
Top Emerging
Market Countries
Brazil
1.1%
Russia
0.8%
Hong Kong
0.3%
United Arab Emirates
0.2%
Average Life (years)
6.3
Effective Duration (years)
4.0
Average Coupon (%) 7.5
Portfolio Statistics:
Inception Date
March 26, 1993
Inception Price $12.00
Total Assets*** $252,798,209
Net Assets $249,031,185
Loans****
0.00%
Preferred Shares****
0.00%
Reverse Repos****
0.00%
Market Price $4.47
NAV $5.28 (Daily NAV is
available on market quotation systems using the symbol XMHYX.)
Distribution Rate $0.0345 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. **** Percentages are based on total assets. If
the Fund employs leverage, the Effective Duration is based on net
assets.
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.
For more information, please call Fund Investor Services at
1-888-777-0102, or consult the Fund’s web site at
http://www.lmcef.com. Hard copies of the Fund’s complete audited
financial statements are available free of charge upon request.
FN1112215
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Western Asset Managed High Income Fund Inc.Fund Investor
Services, 1-888-777-0102
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