Business & Finance
Business and Finance
Business and Finance
Thu, February 5, 2009
Wed, February 4, 2009 Western Asset Income Fund as of December 31, 2008
NEW YORK--([ BUSINESS WIRE ])--Western Asset Income Fund (NYSE: PAI) announces its portfolio composition as of December 31, 2008.
Investment Objective: The Fund's primary investment objective is to provide current income for its shareholders. Capital appreciation, when consistent with current income, is a secondary investment objective.
Portfolio Composition*: | ||
Asset Allocation | ||
Investment Grade | 79.0% | |
High Yield | 17.8% | |
Mortgage Backed/Asset Backed | 1.0% | |
Emerging Markets | 0.5% | |
Government | 0.3% | |
Cash & Other Securities | 1.4% | |
Credit Quality Allocation (Higher of S&P/Moody/Fitch) | ||
| Aaa/AAA | 2.3% | |
| Aa/AA | 13.3% | |
| A/A | 26.4% | |
| Baa/BBB | 39.9% | |
| Ba/BB | 7.1% | |
| B/B | 4.6% | |
| Caa/CCC | 3.8% | |
| C/C | 2.6% | |
Top Ten Investment Grade Industries | ||
| Banking | 14.5% | |
| Communications | 10.3% | |
| Electric | 7.2% | |
| Insurance | 7.1% | |
| Energy | 7.0% | |
| Finance Companies | 6.1% | |
| Consumer Non Cyclical | 5.1% | |
| Basic Industry | 4.4% | |
| Brokerage | 3.6% | |
| Natural Gas | 3.3% | |
Top Five High Yield Industries | ||
| Electric | 4.1% | |
| Consumer Cyclical | 3.5% | |
| Consumer Non Cyclical | 3.2% | |
| Finance Companies | 2.0% | |
| Natural Gas | 1.4% | |
Average Life (years) | 12.2 | |
Effective Duration (years) | 6.0 | |
Average Credit Quality (S&P) | BBB | |
Portfolio Statistics: | |||
| Inception Date | March 22, 1973 | ||
| Total Net Assets |
| $100,243,928 | |
| Market Price |
| $10.49 | |
| NAV |
| $10.68 | |
(Daily NAV is available on market quotation systems using the symbol XPAIX.)
| Distribution Rate | $0.0800 per share | |
| Frequency | Monthly (declared monthly, paid monthly) | |
| Leverage** | 0.00% |
* Portfolio holdings and weightings are historical and are presented here for informational purposes only and do not include derivatives such as Futures Contracts, Options Written, and Credit Default Swaps. They are subject to change at any time.
** The Fund may employ leverage in the form of loans, preferred stock, reverse repurchase agreements and/or other instruments. If the Fund establishes a segregated account in which it maintains cash and/or liquid securities equal in value to its obligation in respect of the reverse repurchase agreements (or other instruments), these investments are not considered to be a borrowing or a "senior security" for purposes of the asset coverage requirements under the 1940 Act, although they may have the same economic effect as other types of leverage.
Dividends and distributions represent past performance. Past performance is no guarantee of future results and there is no guarantee that dividends and distributions will continue.
Western Asset Income Fund, a diversified closed-end investment management company, is advised by Western Asset Management Company, a wholly owned subsidiary of Legg Mason, Inc. and is sub-advised by Western Asset Management Company Limited, an affiliate of the adviser.
Past performance is no guarantee of future results. An investment in the Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate.
For more information, please call Fund Investor Relations at 888-777-0102 or consult the Fund's web site at [ www.leggmason.com/cef ].
Western Asset Management Company and Legg Mason Investor Services, LLC are subsidiaries of Legg Mason, Inc.
© 2009 Legg Mason Investor Services, LLC. Member FINRA, SIPC
