NEW YORK--(BUSINESS WIRE)--
Western Asset Premier Bond Fund (NYSE:WEA) announces its portfolio composition as of September 30, 2016.
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.
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Portfolio Composition*: |
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Asset Allocation |
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Investment Grade Corporate Bonds |
43.4% |
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High Yield Corporate Bonds |
23.5% |
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Government |
9.8% |
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Mortgage-Backed Securities |
8.9% |
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Emerging Market Debt |
7.9% |
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Sovereign Debt External Currency |
1.8% |
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Sovereign Debt Local Currency |
1.7% |
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Corporates External Currency |
4.3% |
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Asset-Backed Securities |
4.9% |
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Bank Loans |
0.9% |
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Cash & Other Securities |
0.7% |
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Credit Quality Allocation** |
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| AAA | 10.3% | ||
| AA | 1.7% | ||
| A | 21.0% | ||
| BBB | 33.8% | ||
| BB | 14.9% | ||
| B | 10.9% | ||
| CCC | 2.9% | ||
| CC | 2.3% | ||
| C | 0.1% | ||
| D | 0.2% | ||
| Not Rated | 1.9% | ||
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Top Ten Investment Grade Industries |
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| Banking | 10.9% | ||
| Communications | 9.6% | ||
| Energy | 6.0% | ||
| Consumer Cyclical | 3.4% | ||
| Consumer Non Cyclical | 3.1% | ||
| Transportation | 2.8% | ||
| Electric | 1.7% | ||
| Capital Goods | 1.6% | ||
| Finance Companies | 1.6% | ||
| Technology | 1.1% | ||
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Top Five High Yield Industries |
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| Communications | 6.0% | ||
| Energy | 4.0% | ||
| Consumer Cyclical | 3.8% | ||
| Basic Industry | 2.3% | ||
| Consumer Non Cyclical | 2.1% | ||
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Average Life (years) |
8.9 | ||
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Effective Duration (years) |
7.5 | ||
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Average Coupon (%) |
5.3 | ||
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Portfolio Statistics: |
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Inception Date |
March 28, 2002 | ||
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Inception Price |
$15.00 | ||
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Total Assets*** |
$227,205,622 | ||
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Net Assets |
$166,595,192 | ||
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Loans**** |
25.53% | ||
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Preferred Shares**** |
0.00% | ||
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Reverse Repos**** |
0.00% | ||
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Market Price |
$13.42 | ||
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NAV |
$14.00 | ||
| (Daily NAV is available on market quotation systems using the symbol XWEAX.) | |||
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Distribution Rate |
$0.0850 per share | ||
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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. 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 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 are based on total assets. If the Fund employs leverage, the Effective Duration is based on net 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 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.
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