Business & Finance
Business and Finance
Business and Finance
Tue, October 12, 2010
Mon, October 11, 2010 Managed High Yield Plus Fund Inc.a"Dividend Declaration and Fund 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 Funda™s Board of Directors has declared a dividend from net investment income of $0.0200 per share. The dividend is payable on October 29, 2010 to shareholders of record as of October 21, 2010. The ex-dividend date is October 19, 2010. 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 September 30, 20101 | ||||||
| Top ten corporate bonds, including coupon and maturity | Percentage of total portfolio assets | |||||
| Frontier Communications, 9.000%, 08/15/31 | 2.1% | |||||
| Sunstate Equipment Co., 10.500%, 04/01/13 | 1.8% | |||||
| Mobile Services Group, Inc., 9.750%, 08/01/14 | 1.8% | |||||
| Pokagon Gaming Authority, 10.375%, 06/15/14 | 1.8% | |||||
| Jacobs Entertainment, Inc., 9.750%, 06/15/14 | 1.6% | |||||
| Ally Financial, Inc., 8.000%, 11/01/31 | 1.5% | |||||
| Exopack Holding Corp., 11.250%, 02/01/14 | 1.4% | |||||
| SquareTwo Financial Corp., 11.625%, 04/01/17 | 1.4% | |||||
| FireKeepers Development Authority, 13.875%, 05/01/15 | 1.3% | |||||
| Ryerson, Inc., 12.000%, 11/01/15 | 1.3% | |||||
| 16.0% | ||||||
| Top five industries | ||||||
| Gaming | 9.5% | |||||
| Support-services | 6.0% | |||||
| Telecom-integrated/services | 5.8% | |||||
| Energy-exploration & production | 4.4% | |||||
| Health facilities | 4.1% | |||||
| 29.8% | ||||||
| Credit quality2 | ||||||
| Ba/BB and higher | 30.2% | |||||
| B/B | 45.1% | |||||
| Caa/CCC and lower | 22.0% | |||||
| Equity/preferred3 | 0.0% | |||||
| Cash equivalents | 2.7% | |||||
| Total | 100.0% | |||||
| Other characteristics | ||||||
| Net asset value per share4 | $2.17 | |||||
| Market price per share4 | $2.25 | |||||
| Weighted average maturity | 7.0 Yrs. | |||||
| Weighted average modified duration5 | 3.7 Yrs. | |||||
| Weighted average coupon6 | 8.2% | |||||
| Leverage7 | 23.24% | |||||
| Yields4 | ||||||
| NAV yield | 11.06% | |||||
| Market yield | 10.67% |
1 The Fund is actively managed, and its portfolio composition will vary over time.
2 Credit quality ratings are from Moodya™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 Global AM will be used. Standard & Poor's ("S&P") is a division of The McGraw-Hill Companies, Inc.
3 Weighting represents less than 0.05% of the total portfolio assets.
4 Net asset value (NAV), market price and yields will fluctuate. NAV yield is calculated by multiplying the current montha™s dividend by 12 and dividing by the month-end net asset value. Market yield is calculated by multiplying the current montha™s dividend by 12 and dividing by the month-end market price.
5 Modified duration is the change in the price of a security, expressed in years, expected in response to each 1% change in the yield to maturity of the portfolio's holdings.
6 Weighted by par.
7 As a percentage of adjusted net assets. Adjusted net assets equals total assets minus total liabilities, excluding liabilities for borrowed money.
