Western Asset Managed High Income Fund Inc. Portfolio Composition as of December 31, 2015
January 29 2016 - 8:00AM
Business Wire
Western Asset Managed High Income Fund Inc. (NYSE:MHY) announces
its portfolio composition as of December 31, 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
79.2%
Investment Grade Corporate
Bonds
6.7%
Government
4.2%
Bank Loans
2.6%
Emerging Market Debt
2.2%
Corporates External Currency
2.2%
Mortgage-Backed Securities
0.4% Cash & Other Securities 4.6%
Credit Quality
Allocation**
AA 4.2% A 0.2% BBB 6.6% BB 18.0% B 41.0% CCC 22.2% CC 0.2% D 0.8%
Not Rated 7.0%
Top Ten High
Yield Industries
Communications 16.4% Consumer Cyclical 12.4% Consumer Non Cyclical
12.1% Energy 7.7% Capital Goods 6.5% Banking 5.0% Finance Companies
4.2% Basic Industry 4.1% Transportation 3.7% Electric 2.5%
Top Emerging
Market Countries
Brazil 1.1% Russia 0.9% United Arab Emirates 0.2%
Average Life (years)
6.8
Effective Duration (years)
4.2
Average Coupon (%)
7.2
Portfolio Statistics:
Inception Date
March 26, 1993
Inception Price
$12.00
Total Assets***
$235,797,339
Net Assets
$235,537,611
Loans****
0.00%
Preferred Shares****
0.00%
Reverse Repos****
0.00%
Market Price
$4.52
NAV
$4.99 (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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version on businesswire.com: http://www.businesswire.com/news/home/20160129005182/en/
Media:Maria Rosati,
1-212-805-6036mrosati@leggmason.com
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