Western Asset Emerging Markets Debt Fund Inc. Portfolio Composition as of March 31, 2018
April 26 2018 - 11:36AM
Business Wire
Western Asset Emerging Markets Debt Fund Inc. (NYSE: EMD)
announces its portfolio composition as of March 31, 2018.
Investment Objective: The Fund’s primary investment
objective is to seek high current income. The Fund’s secondary
objective is capital appreciation.
Portfolio Composition*:
Asset
Allocation
Emerging Market Debt 98.6% Sovereign Debt
External Currency 68.5% Sovereign Debt Local Currency 11.5%
Corporates External Currency 18.3% Corporates Local Currency 0.3%
Investment Grade Corporate Bonds 0.4% High Yield
Corporate Bonds 0.2% Cash & Other Securities
0.8%
Credit Quality
Allocation**
AA 0.6% A 12.7% BBB 37.8% BB 22.6% B 22.8% C 1.2% Not Rated 2.4%
Top Ten Emerging
Market Countries
Indonesia 9.6% Argentina 8.8% Mexico 8.8% Russia 8.3% Brazil 7.9%
Turkey 6.0% Peru 5.2% Colombia 4.8% Kazakhstan 3.0% Egypt 2.2%
Currency
Allocation
US Dollar 86.1% Brazilian Real 2.8% Indonesian Rupiah 2.2% Indian
Rupee 2.2% Argentine Peso 2.1% Russian Ruble 1.7% Czech Koruna 1.6%
Mexican Peso 1.3% Turkish Lira 0.8% Egyptian Pound 0.8% Nigerian
Naira 0.8% Malaysian Ringgit 0.7% Chinese Yuan Renminbi 0.7%
Uruguayan Peso 0.6% Canadian Dollar 0.3% Philippine Peso -1.4%
Saudi Riyal -1.5% Euro -1.7%
Average Life (years) 9.0
Average Effective Duration (years) 7.7
Average Coupon
(%) 6.6
Portfolio Statistics: Inception
Date December 1, 2003
Inception Price $20.00
Total
Assets*** $1,442,160,632
Net Assets $1,024,281,244
Loans**** 20.46%
Preferred Shares**** 0.00%
Reverse Repos**** 8.52%
Market Price $14.53
NAV $16.86 (Daily NAV is available on market quotation
systems using the symbol XEMDX.)
Distribution
Rate***** $0.1000 per share
Frequency Monthly (Declared
quarterly, paid monthly)
Note: On December 16, 2016, the Western Asset Emerging Markets
Income Fund Inc. (EMD) and the Western Asset Worldwide Income Fund
Inc.(SBW) merged into the Western Asset Emerging Market Debt Fund
Inc. (ESD). After the merger, ESD changed its ticker (trading
symbol) to EMD.
* Portfolio holdings and weightings are historical and are
presented here for informational purposes only. They are subject to
change at any time. Negative allocations and allocations in excess
of 100%, if any, are primarily due to the Fund's unsettled trade
activity. ** 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. ***** Pursuant to its managed distribution policy,
the Fund intends to make regular monthly distributions to
shareholders of its common stock at a fixed rate per common share,
which may be adjusted from time to time by the Fund's Board of
Directors. Under the Fund's managed distribution policy, if, for
any monthly distribution, the total of net investment income and
net realized capital gain is less than the amount of the
distribution, the difference will be distributed from the Fund's
assets (and will constitute a "return of capital"). The Board of
Directors may modify, terminate or suspend the managed distribution
policy at any time, including when certain events would make part
of any return of capital taxable to shareholders. Any such
modification, termination or suspension could have an adverse
effect on the market price for the Fund's shares.
Western Asset Emerging Markets Debt Fund Inc., a non-diversified
closed-end investment management company traded on the New York
Stock Exchange under the symbol “EMD,” 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. International investing involves additional risks.
These risks are greater in emerging markets.
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.
FN1112202
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Western Asset Emerging Markets Debt Fund Inc.Fund Investor
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