NEW YORK--(BUSINESS WIRE)--
Western Asset Municipal High Income Fund Inc. (NYSE:MHF) announces its portfolio composition as of September 30, 2017.
Investment Objective: The Fund seeks high current income exempt from Federal income taxes.
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Portfolio Composition*: |
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Asset Allocation |
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Municipal |
99.6% |
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Variable Rate Demand Notes |
0.4% |
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Top Ten Municipal Sectors |
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| Industrial Revenue | 23.7% | ||
| Transportation | 20.7% | ||
| Health Care | 12.7% | ||
| Pre refunded/ Escrowed to Maturity | 9.6% | ||
| Water & Sewer | 9.5% | ||
| Education | 8.4% | ||
| Lease Backed | 5.8% | ||
| Local | 3.1% | ||
| Special Tax Obligation | 3.0% | ||
| Power | 2.1% | ||
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Credit Quality Allocation** |
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| AAA | 3.9% | ||
| AA | 8.2% | ||
| A | 35.8% | ||
| BBB | 40.4% | ||
| BB | 4.0% | ||
| CCC | 1.0% | ||
| Not Rated | 6.7% | ||
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Call Statistics |
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| Not Callable | 13.0% | ||
| 2017 | 4.6% | ||
| 2018 | 5.3% | ||
| 2019 | 7.1% | ||
| 2020 | 11.8% | ||
| 2021 | 6.2% | ||
| 2022 | 11.5% | ||
| 2023 | 10.6% | ||
| 2024 | 9.2% | ||
| 2025 | 10.3% | ||
| 2026 | 6.5% | ||
| 2027 | 3.2% | ||
| 2028 | 0.8% | ||
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Average Life (years) |
8.9 | ||
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Effective Duration (years) |
6.8 | ||
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Average Coupon (%) |
5.5 | ||
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Subject to AMT (%) |
17.2 | ||
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Portfolio Statistics: |
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Inception Date |
November 28, 1988 | ||
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Inception Price |
$10.00 | ||
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Total Assets |
$171,926,821 | ||
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Market Price |
$7.75 | ||
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NAV |
$7.95 | ||
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(Daily NAV is available on market quotation systems using the symbol XMHFX.)
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Distribution Rate |
$0.0255 per share | ||
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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), 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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Western Asset Municipal High Income Fund 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 risk. As interest rates rise, bond prices fall, reducing the value of the Fund's share price. Certain investors may be subject to the alternative minimum tax (AMT). State and local taxes may apply. The Fund may invest in derivative instruments. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on Fund performance.
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.
FN1112214
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