Western Asset High Income Fund II Inc. Portfolio Composition as of June 30, 2018
August 02 2018 - 5:27PM
Business Wire
Western Asset High Income Fund II Inc. (NYSE:HIX) announces its
portfolio composition as of June 30, 2018.
Investment Objective: The Fund seeks to maximize current
income. As a secondary objective, the Fund seeks capital
appreciation to the extent consistent with its objective of seeking
to maximize current income.
Portfolio Composition*:
Asset
Allocation
High Yield Corporate Bonds 60.3%
Emerging Market Debt 20.7% Sovereign Debt External
Currency 8.4% Sovereign Debt Local Currency 2.6% Corporates
External Currency 9.7%
Bank Loans 14.5% Investment
Grade Corporate Bonds 3.4% Government 0.5%
Cash & Other Securities 0.6%
Credit Quality
Allocation**
AA 0.5% A 0.4% BBB 10.8% BB 42.8% B 32.3% CCC 10.6% D 0.2% Not
Rated 2.3%
Top Ten High
Yield Industries
Communications 16.2% Energy 9.3% Consumer Cyclical 7.5% Banking
5.4% Capital Goods 5.4% Consumer Non Cyclical 5.1% Basic Industry
3.6% Technology 1.7% Finance Companies 1.6% Transportation 1.1%
Top Five Emerging
Market Countries
Argentina 4.0% Brazil 3.5% Russia 2.7% Israel 2.1% United Arab
Emirates 1.4%
Currency
Allocation
US Dollar 97.2% Russian Ruble 1.1% Brazilian Real 0.8% Argentine
Peso 0.4% Uruguayan Peso 0.3% British Pound 0.2% Euro 0.1%
Average Life (years) 6.0
Effective Duration
(years) 5.5
Average Coupon (%) 6.2
Portfolio
Statistics: Inception Date May 28, 1998
Inception Price $15.00
Total Assets*** $858,229,658
Net Assets $623,229,658
Loans**** 27.38%
Preferred
Shares**** 0.00%
Reverse Repos**** 0.00%
Market Price $6.44
NAV $7.23 (Daily NAV is available
on market quotation systems using the symbol XHGIX.)
Distribution Rate $0.0455 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. 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 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 are based on total assets. If the Fund employs
leverage, the Effective Duration is based on net 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
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.
FN1112208
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Investors:Fund Investor Services1-888-777-0102
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