Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE: IGI) announces its portfolio composition as of September 30, 2016.
Investment Objectives: The Fund's primary investment objective is to provide current income and then to liquidate and distribute substantially all of the Fund’s net assets to stockholders on or about December 2, 2024. Capital appreciation is a secondary investment objective.
Investment Strategy: The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its net assets in investment grade corporate fixed income securities of varying maturities.
Portfolio Composition*: | |
Asset Allocation | |
| Investment Grade Corporate Bonds | 78.0% |
High Yield Corporate Bonds | 13.9% |
Emerging Market | 5.8% |
Corporates External Currency | 2.0% |
Sovereign Debt External Currency | 3.7% |
Municipal | 0.3% |
Government | -0.1% |
Cash & Other Securities | 2.2% |
Credit Quality Allocation** | |
| AAA | 0.7% |
| AA | 6.0% |
| A | 33.6% |
| BBB | 41.3% |
| BB | 10.4% |
| B | 5.7% |
| CCC | 0.4% |
| Not Rated | 1.9% |
Top Ten Investment Grade Industries | |
| Banking | 19.0% |
| Communications | 13.5% |
| Energy | 10.6% |
| Consumer Non Cyclical | 6.3% |
| Electric | 5.3% |
| Finance Companies | 4.5% |
| Insurance | 4.4% |
| Basic Industry | 3.9% |
| Consumer Cyclical | 3.4% |
| Transportation | 2.1% |
Top Five High Yield Industries | |
| Banking | 3.8% |
| Communications | 2.5% |
| Finance Companies | 2.3% |
| Energy | 1.6% |
| Electric | 1.3% |
Average Life (years) | 11.3 |
Effective Duration (years) | 6.9 |
Average Coupon (%) | 6.2 |
Portfolio Statistics: | |
Inception Date | June 26, 2009 |
Inception Price | $20.00 |
Total Assets*** | $229,524,290 |
Loans**** | 0.0% |
Preferred Shares**** | 0.0% |
Reverse Repos**** | 0.0% |
Market Price | $22.60 |
NAV | $21.05 |
| (Daily NAV is available on market quotation systems using the symbol XIGIX.) | |
Distribution Amount | $0.1000 per share |
Frequency | Monthly (declared monthly, paid monthly) |
| * | Portfolio holdings and weightings are historical and are presented here for informational purposes only. They are subject to change at any time. Negative allocations and allocations in excess of 100%, if any, are primarily due to the Fund's unsettled trade activity. | |
| ** | 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. and typically range from AAA (highest) to D (lowest), or an equivalent and/or similar rating. For this purpose, when two or more of the agencies have assigned differing ratings to a security, the highest 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 Fund will not leverage its capital structure by issuing senior securities such as preferred shares or debt instruments. The Fund will also not borrow money for the purpose of leverage. The Fund may invest in reverse repurchase agreements and/or other instruments which can increase the risks and volatility of the Fund. | |
| **** | Percentages are based on total assets. If the Fund employs leverage, the Effective Duration is based on net assets. | |
Western Asset Investment Grade Defined Opportunity Trust 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.
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.
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 Services at 1-888-777-0102, or consult the Fund’s web site at http://www.lmcef.com. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.
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Contacts:
For Western Asset Investment Grade Defined
Opportunity Trust Inc.
Maria Rosati, 1-212-805-6036
mrosati@leggmason.com
