Western Asset High Income Fund II Inc. Portfolio Composition as of June 30, 2019
July 23 2019 - 8:00AM
Business Wire
Western Asset High Income Fund II Inc. (NYSE: HIX) announces its
portfolio composition as of June 30, 2019.
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
61.5%
Emerging Market Debt
24.0%
Sovereign Debt External Currency
9.8%
Sovereign Debt Local Currency
4.0%
Corporates External Currency
10.1%
Bank Loans
7.0%
Investment Grade Corporate
Bonds
6.0%
Government
2.5%
Cash & Other Securities
-0.9%
Credit Quality
Allocation**
AA
2.5%
A
0.7%
BBB
14.1%
BB
39.3%
B
38.1%
CCC
5.5%
D
0.1%
Not Rated
-0.3%
Top Ten High
Yield Industries
Communications
14.6%
Energy
8.5%
Consumer Cyclical
7.9%
Consumer Non Cyclical
7.8%
Banking
7.4%
Capital Goods
6.1%
Basic Industry
3.9%
Technology
1.5%
Finance Companies
1.3%
REITs
1.2%
Top Five Emerging
Market Countries
Brazil
4.8%
Argentina
3.7%
Indonesia
2.6%
Russia
2.3%
Israel
1.7%
Currency
Allocation
US Dollar
95.5%
Russian Ruble
1.1%
Brazilian Real
1.0%
Polish Zloty
0.7%
Indonesian Rupiah
0.5%
British Pound
0.3%
Uruguayan Peso
0.3%
Argentine Peso
0.2%
Mexican Peso
0.2%
Euro
0.1%
Average Life (years)
6.0
Effective Duration (years)
6.1
Average Coupon (%)
6.3
Portfolio Statistics:
Inception Date
May 28, 1998
Inception Price
$15.00
Total Assets***
$891,426,341
Net Assets
$633,803,341
Loans****
27.65%
Preferred Shares****
0.00%
Reverse Repos****
1.25%
Market Price
$7.02
NAV
$7.44
(Daily NAV is available on market
quotation systems using the symbol XHGIX.)
Distribution Rate
$0.0465 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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Fund Investor Services 1-888-777-0102
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