Business & Finance
Business and Finance
Business and Finance
Fri, January 28, 2011
Thu, January 27, 2011 Western Asset High Yield Defined Opportunity Fund Inc. as of December 31, 2010
NEW YORK--([ BUSINESS WIRE ])--Western Asset High Yield Defined Opportunity Fund Inc. (NYSE: HYI) announces its portfolio composition as of December 31, 2010.
Investment Objective: The Funda™s primary investment objective is high income. Capital appreciation is a secondary objective.
Portfolio Composition*: | ||
Asset Allocation | ||
High Yield Corporate Bonds | 89.3% | |
Emerging Market Debt | 5.3% | |
Corporates External Currency | 1.7% | |
Sovereign Debt External Currency | 3.6% | |
Investment Grade Corporate Bonds | 2.2% | |
Cash & Other Securities | 3.2% | |
Credit Quality Allocation** | ||
| BBB | 0.2% | |
| BB | 9.3% | |
| B | 40.5% | |
| CCC | 38.7% | |
| CC | 2.6% | |
| C | 4.3% | |
| NR | 4.4% | |
Top Ten High Yield Industries | ||
| Consumer Cyclical | 18.1% | |
| Capital Goods | 13.4% | |
| Basic Industry | 10.3% | |
| Communications | 9.7% | |
| Energy | 7.6% | |
| Consumer Non Cyclical | 7.3% | |
| Technology | 6.5% | |
| Electric | 4.8% | |
| Transportation | 4.4% | |
| Financial Other | 2.2% | |
Top Emerging Market Countries | ||
| Venezuela | 2.1% | |
| Argentina | 1.5% | |
| South Africa | 0.8% | |
| Poland | 0.5% | |
| India | 0.4% | |
Average Life (years) | 6.5 | |
Effective Duration (years) | 3.7 | |
Average Coupon (%) | 9.1 | |
Portfolio Statistics: | ||
Inception Date | October 27, 2010 | |
Inception Price | $20.00 | |
Total Assets*** | $427,379,817 | |
Net Assets | $427,379,817 | |
Loans | 0.00% | |
Preferred Shares | 0.00% | |
Reverse Repos | 0.00% | |
Market Price | $18.27 | |
NAV | $19.21 | |
(Daily NAV is available on market quotation systems using the symbol XHYIX.) | ||
Distribution Rate**** | $0.1470 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. For this purpose, if 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 Funda™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 Funda™s portfolio, the value of the Fund will be more volatile and all other risks will tend to be compounded.
**** The distribution amount was announced on December 10, 2010 for the months of December, January and February. The distribution amount is subject to change in future months.
Western Asset High Yield Defined Opportunity Fund Inc., a non-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 Relations at 888-777-0102 or consult the Funda™s web site at [ www.leggmason.com/cef ].
FN1012743
