Business & Finance
Business and Finance
Business and Finance
Tue, January 13, 2009
Mon, January 12, 2009 Managed High Yield Plus Fund Inc." Dividend Declaration and Portfolio Statistics
NEW YORK--([ BUSINESS WIRE ])--Managed High Yield Plus Fund Inc. (the "Fund") (NYSE: HYF), a closed-end management investment company, today announced that the Fund's Board of Directors has declared a dividend from net investment income of $0.0225 per share. The dividend is payable on January 30, 2009 to shareholders of record as of January 22, 2009. The ex-dividend date is January 20, 2009. Managed High Yield Plus Fund Inc. seeks high income and, secondarily, capital appreciation, primarily through investments in lower-rated, income producing debt and related equity securities.
| Portfolio statistics as of December 31, 20081 | |||||
| Top ten holdings, including coupon and maturity | Percentage of total portfolio assets | ||||
| Xerox Capital Trust I, 8.000% 02/01/27 | 3.7% | ||||
| Cellu Tissue Holdings, Inc., 9.750% 03/15/10 | 3.5% | ||||
| Sheridan Acquisition Corp., 10.250% 08/15/11 | 3.4% | ||||
| Citizens Communications, 9.000% 08/15/31 | 3.3% | ||||
| Mirant Americas Generation LLC, 9.125% 05/01/31 | 3.3% | ||||
| Wind Acquisition Finance SA, 10.750% 12/01/15 | 3.0% | ||||
| CPG International, Inc., 10.500% 07/01/13 | 3.0% | ||||
| Jacobs Entertainment, Inc., 9.750% 06/15/14 | 2.9% | ||||
| ARAMARK Services, Inc., 6.693% 02/01/15 | 2.8% | ||||
| Coleman Cable, Inc., 9.875% 10/01/12 | 2.7% | ||||
| Total | 31.6% | ||||
| Yields2 | |||||
| NAV yield | 18.37% | ||||
| Market yield | 20.45% |
| Portfolio statistics as of December 31, 2008, continued1 | ||
| Top five sectors | Percentage of total portfolio assets | |
| Gaming | 18.8% | |
| Paper/forest products | 9.9% | |
| Building materials | 9.0% | |
| Consumer services | 6.5% | |
| Healthcare | 5.4% | |
| Total | 49.6% | |
| Credit quality3 | ||
| Ba/BB and higher | 9.2% | |
| B/B | 72.4% | |
| Caa/CCC and lower | 16.6% | |
| Equity/preferred 0.3% Cash equivalents 1.5% | ||
| Total | 100.0% | |
| Other characteristics | ||
| Net asset value per share2 | $1.47 | |
| Market price per share2 | $1.32 | |
| Weighted average maturity | 6.4 yrs | |
| Weighted average modified duration | 3.0 yrs | |
| Weighted average coupon4 | 8.7% | |
| Estimated accumulated undistributed net investment income | $0.6 million | |
| Leverage5 | 24.3% |
1 The Fund is actively managed, and its portfolio composition will vary over time.
2 Net asset value (NAV), market price and yields will fluctuate. NAV yield is calculated by multiplying the current month's dividend by 12 and dividing by the month-end net asset value. Market yield is calculated by multiplying the current month's dividend by 12 and dividing by the month-end market price.
3 Credit quality ratings are from Moody's, unless that rating is unavailable. If so, the default credit quality rating will be from Standard & Poor's; if that is unavailable, an internal rating from UBS will be used.
Standard & Poor's ("S&P") is a division of The McGraw-Hill Companies, Inc.
4 Weighted by par.
5 As a percentage of total assets. Leverage may vary.
