NEW YORK -- (Business Wire)
Western Asset High Income Fund II Inc. (NYSE: HIX) announces its
portfolio composition as of September 30, 2010.
Investment Objective: The Fund seeks to maximize current income.
As a secondary objective, the Fund seeks capital appreciation.
Portfolio Composition*: |
| |
| |
|
Asset Allocation | | |
High Yield Corporate Bonds |
| 80.7% | | |
Emerging Market Debt | | 12.6% | | |
Sovereign Debt External Currency | | 3.2% | | |
Sovereign Debt Local Currency | | 1.8% | | |
Corporates External Currency | | 7.5% | | |
Investment Grade Corporate Bonds | | 5.9% | | |
Mortgage-Backed Securities | | 0.2% | | |
Cash & Other Securities | | 0.6% | | |
| |
|
Credit Quality Allocation** | | |
|
A
| |
0.4%
| | |
|
BBB
| |
6.3%
| | |
|
BB
| |
21.1%
| | |
|
B
| |
45.0%
| | |
|
CCC
| |
20.4%
| | |
|
CC
| |
1.4%
| | |
|
C
| |
1.5%
| | |
|
D
| |
0.7%
| | |
|
Not Rated
| |
3.2%
| | |
| |
|
Top Ten High Yield Industries | | |
|
Communications
| |
12.6%
| | |
|
Consumer Cyclical
| |
12.6%
| | |
|
Consumer Non Cyclical
| |
11.3%
| | |
|
Energy
| |
10.5%
| | |
|
Basic Industry
| |
7.3%
| | |
|
Electric
| |
4.1%
| | |
|
Capital Goods
| |
3.8%
| | |
|
Finance Companies
| |
3.8%
| | |
|
Transportation
| |
3.8%
| | |
|
Technology
| |
2.9%
| | |
| |
|
Top Five Emerging Market Countries | | |
|
Brazil
| |
3.4%
| | |
|
Mexico
| |
2.3%
| | |
|
Russia
| |
2.3%
| | |
|
Thailand
| |
1.0%
| | |
|
Turkey
| |
0.7%
| | |
| |
|
Currency Allocation | | | | |
|
US Dollar
| |
98.1%
| | |
|
Brazilian Reals
| |
1.3%
| | |
|
Indonesian Rupiahs
| |
0.5%
| | |
|
Euros
| |
0.1%
| | |
| |
|
Average Life (years) | |
6.21
| | |
Effective Duration (years) | |
4.14
| | |
Average Coupon (%) | |
8.51
| | |
| |
|
Portfolio Statistics: | | |
| |
|
Inception Date | |
May 28, 1998
| | |
Inception Price | |
$15.00
| | |
Total Assets*** | |
$1,001,368,452
| | |
Net Assets | |
$751,854,886
| | |
Loans**** | |
19.62%
| | |
Preferred Shares**** | |
0.00%
| | |
Reverse Repos**** | |
5.29%
| | |
| |
|
Market Price | |
$9.76
| | |
NAV | |
$8.96
| | |
|
(Daily NAV is available on market quotation systems using the symbol
XHGIX.)
|
| |
|
Distribution Rate | |
$0.0850 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 Fund’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 Fund’s portfolio, the value of the Fund
will be more volatile and all other risks will tend to be
compounded.
|
****
| |
Percentages based on total assets.
|
Western Asset High Income Fund II Inc., a 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 ("junk") bonds are
subject to greater risk and potential loss than higher rated bonds.
International investing is subject to additional risks. These risks are
greater in emerging markets.
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
888-777-0102, or consult the Fund’s web site at www.leggmason.com/cef.
FN1011950
Contacts:
Fund Investor Services
888-777-0102
www.leggmason.com/cef
Source: Western Asset High Income Fund II Inc.
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