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Managed High Yield Plus Fund Inc. Announces Portfolio Management Changes

^{Published on 2010-06-15 14:15:17 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Managed High Yield Plus Fund Inc. (NYSE: HYF) (the aFunda) today announced that Craig Ellinger has joined Matthew Iannucci in providing day-to-day portfolio management for the Fund. Mr. Ellinger is a Managing Director and the Global Head of Credit Research/Global Head of High Yield at UBS Global Asset Management (Americas) Inc. (aUBS Global AMa), which serves as the Funda™s investment manager and administrator. Mr. Ellinger has been with the firm since 2000, and is primarily responsible for all aspects of high-yield, investment grade and securitized credit research.

Mr. Iannucci has been an investment professional with UBS Global AM since 1996, and has been engaged in portfolio management and high yield credit research for a number of years. Mr. Iannucci is an Executive Director and the Head of US High Yield Portfolio Management at UBS Global AM. Mr. Iannucci became a portfolio manager for the Fund earlier in 2010, and has been involved in the Funda™s management since 2009. Both Messrs. Ellinger and Iannucci are members of the CFA Institute. Shu-Yang Tan, who until recently was the primary portfolio manager for the Fund, is leaving UBS Global AM to pursue another opportunity.

The Fund seeks high income and, secondarily, capital appreciation, primarily through investments in lower-rated, income producing debt and related equity securities.