NEW YORK -- (Business Wire)
Western Asset Premier Bond Fund (NYSE: WEA) announces its portfolio
composition as of September 30, 2010.
Investment Objective: The Fund's investment objective is to
provide current income and capital appreciation by investing primarily
in a diversified portfolio of investment grade bonds.
Portfolio Composition*:
Asset Allocation |
|
| |
Mortgage-Backed Securities | | | 35.7% |
Investment Grade Corporate Bonds | | | 24.0% |
High Yield Corporate Bonds | | | 15.6% |
Asset-Backed Securities | | | 9.8% |
Inflation-Linked | | | 3.6% |
Government | | | 1.4% |
Cash & Other Securities | | | 9.9% |
| | |
|
Credit Quality Allocation** | | | |
|
AAA
| | |
24.6%
|
|
AA
| | |
5.6%
|
|
A
| | |
9.7%
|
|
BBB
| | |
24.5%
|
|
BB
| | |
10.3%
|
|
B
| | |
5.6%
|
|
CCC
| | |
6.4%
|
|
CC
| | |
1.8%
|
|
Not Rated
| | |
11.5%
|
| | |
|
Top Ten Investment Grade Industries | | | |
|
Transportation
| | |
5.4%
|
|
Consumer Cyclical
| | |
4.7%
|
|
Energy
| | |
2.7%
|
|
Banking
| | |
2.3%
|
|
Electric
| | |
2.0%
|
|
Communications
| | |
1.9%
|
|
Basic Industry
| | |
1.5%
|
|
Capital Goods
| | |
0.9%
|
|
Finance Companies
| | |
0.8%
|
|
Consumer Non Cyclical
| | |
0.7%
|
| | |
|
Top Five High Yield Industries | | | |
|
Consumer Cyclical
| | |
3.7%
|
|
Communications
| | |
3.5%
|
|
Electric
| | |
1.9%
|
|
Consumer Non Cyclical
| | |
1.4%
|
|
Energy
| | |
1.3%
|
| | |
|
Average Life (years) | | |
5.88
|
Effective Duration (years)
| | |
3.08
|
Average Coupon (%) | | |
4.82
|
| | |
|
Portfolio Statistics: | | | |
| | |
|
Inception Date | | |
March 28, 2002
|
Inception Price | | |
$15.00
|
Total Assets*** | | |
$235,651,707
|
Net Assets | | |
$163,651,707
|
Loans**** | | |
0.00%
|
Preferred Shares**** | | |
30.55%
|
Reverse Repos**** | | |
0.00%
|
| | |
|
Market Price | | |
$15.00
|
NAV | | |
$13.99
|
(Daily NAV is available on market quotation systems using the
symbol XWEAX.)
|
Distribution Rate | |
$0.1100 per share
|
Frequency | |
Monthly (declared monthly, paid monthly)
|
| |
|
|
*
|
|
Portfolio holdings and weightings are historical and are presented
here for informational purposes only and do not include derivatives
such as Futures Contracts, Options Written, and Credit Default
Swaps. 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 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
|
.
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***
| |
The difference between total assets and net assets, if any, is due
primarily to the Fund’s use of preferred shares; net assets do not
include preferred shares. 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.
| |
| | |
|
Dividends and distributions represent past performance. Past performance
is no guarantee of future results and there is no guarantee that
dividends and distributions will continue.
Western Asset Premier Bond Fund, a diversified closed-end investment
management company, is advised by Western Asset Management Company, a
wholly owned subsidiary of Legg Mason, Inc. and is sub-advised by
Western Asset Management Company Limited, Western Asset Management
Company Pte. Ltd., and Western Asset Management Company Ltd, affiliates
of the adviser.
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.
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 Fund’s web site at www.leggmason.com/cef.
FN1011964
Contacts:
For Western Asset Premier Bond Fund
Fund Investor Relations,
888-777-0102
Source: Western Asset Premier Bond Fund
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