[August 02, 2018] |
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Western Asset High Yield Defined Opportunity Fund Inc. Portfolio Composition as of June 30, 2018
Western Asset High Yield Defined Opportunity Fund Inc. (NYSE: HYI)
announces its portfolio composition as of June 30, 2018.
Investment Objective: The Fund's primary investment objective is
high income. Capital appreciation is a secondary objective.
Portfolio Composition*:
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Asset Allocation
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High Yield Corporate Bonds
|
|
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73.6
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%
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Emerging Market
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16.5
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%
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Corporates External Currency
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|
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9.9
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%
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Sovereign Debt External Currency
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3.0
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%
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Sovereign Debt Local Currency
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|
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3.5
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%
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Bank Loans
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|
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5.6
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%
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Investment Grade Corporate Bonds
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|
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2.7
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%
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Government
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0.5
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%
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Cash & Other Securities
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|
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1.1
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%
|
|
|
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Credit Quality Allocation**
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|
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AA
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0.5
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%
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BBB
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|
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3.7
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%
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BB
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|
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32.4
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%
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B
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|
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41.1
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%
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CCC
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|
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18.7
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%
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CC
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|
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0.2
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%
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NR
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|
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3.4
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%
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|
|
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Top Ten High Yield Industries
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|
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Communications
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|
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19.0
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%
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Energy
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13.8
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%
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Consumer Non Cyclical
|
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8.1
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%
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Consumer Cyclical
|
|
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7.7
|
%
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Banking
|
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6.3
|
%
|
Capital Goods
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|
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4.9
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%
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Basic Industry
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3.9
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%
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Technology
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2.2
|
%
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Finance Companies
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|
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1.8
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%
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Transportation
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1.8
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%
|
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Top Emerging Market Countries
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Brazil
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3.8
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%
|
Argentina
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|
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3.3
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%
|
Russia
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|
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2.7
|
%
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Israel
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2.6
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%
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United Arab Emirates
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1.8
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%
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Ecuador
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1.3
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%
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Uruguay
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|
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0.4
|
%
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Colombia
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|
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0.4
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%
|
|
|
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Average Life (years)
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|
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6.5
|
|
Effective Duration (years)
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|
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4.1
|
|
Average Coupon (%)
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|
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6.8
|
|
|
|
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Portfolio Statistics:
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|
|
|
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Inception Date
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October 27, 2010
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Inception Price
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|
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$20.00
|
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Total Assets***
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|
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$367,314,245
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Loans****
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|
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0.00
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%
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Preferred Shares****
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|
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0.00
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%
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Reverse Repos****
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|
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0.00
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%
|
|
|
|
Market Price
|
|
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$14.59
|
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NAV
|
|
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$16.12
|
|
(Daily NAV is available on market quotation systems using the symbol
XHYIX.)
|
|
|
Distribution Rate
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$0.0885 per share
|
Frequency Monthly
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(Declared quarterly, paid monthly)
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|
|
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*
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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. 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 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.
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***
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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.
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****
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Percentages are based on total assets. If the Fund employs
leverage, the Effective Duration is based on net assets.
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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 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.
FN1112209
View source version on businesswire.com: https://www.businesswire.com/news/home/20180802005958/en/
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