Western Asset Variable Rate Strategic Fund Inc. as of September 30, 2011
November 04 2011 - 8:00AM
Business Wire
Western Asset Variable Rate Strategic Fund Inc. (NYSE: GFY)
announces its portfolio composition as of September 30, 2011.
Investment Objective: The Fund’s investment objective is
to maintain a high level of current income.
Portfolio Composition*:
Asset
Allocation
Mortgage-Backed Securities
39.7%
Investment Grade Corporate
Bonds
20.1%
High Yield Corporate Bonds
9.8%
Bank Loans
9.4%
Emerging Market Debt
6.8%
Sovereign Debt External Currency
1.0%
Sovereign Debt Local Currency
2.3%
Corporates External Currency
3.5%
Asset-Backed Securities
6.7%
Municipal
1.7%
Cash & Other Securities
5.8%
Credit Quality
Allocation**
AAA 24.2% AA 13.6% A 12.4% BBB 14.4% BB 13.8% B 11.4% CCC 9.6% CC
0.1% C 0.3% D 0.1% Not Rated 0.1%
Top Five High
Yield Industries
Energy 2.0% Finance Companies 1.6% Communications 1.6% Consumer
Cyclical 1.1% Basic Industry 0.9%
Top Five Emerging
Market Countries
Brazil 3.8% Russia 0.8% Thailand 0.6% Mexico 0.6% Venezuela 0.5%
Currency
Allocation
US Dollar 97.7% Brazilian Reals 2.3%
Average Life (years)
5.6
Effective Duration (years)
0.6
Average Coupon (%)
3.1
Portfolio Statistics:
Inception Date
October 26, 2004
Inception Price
$20.00
Total Assets***
$129,454,003
Net Assets
$111,893,702
Loans
0.00%
Preferred Shares
0.00%
Reverse Repos
15.12%
Market Price
$15.43
NAV
$16.80
(Daily NAV is available on market quotation systems using the
symbol XGFYX.)
Distribution Rate
$0.0630 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. and typically range
from AAA (highest) to D (lowest). 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.
*** 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.
Western Asset Variable Rate Strategic Fund Inc., a
non-diversified closed-end investment management company traded on
the New York Stock Exchange under the symbol “GFY”, 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. 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.
FN1112205
Western Asset Variable R... (NYSE:GFY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Western Asset Variable R... (NYSE:GFY)
Historical Stock Chart
From Jul 2023 to Jul 2024