NEW YORK - (Business Wire) Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE: IGI) announces its portfolio composition as of September 30, 2009. Investment Objectives: The Fund's primary investment objective is to provide current income for its shareholders and then to liquidate and distribute substantially all of the Fund’s net assets to stockholders on or about December 2, 2024. Capital appreciation is a secondary investment objective.
Investment Strategy: The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its net assets in investment grade corporate fixed income securities of varying maturities.
Portfolio Composition*:
| Asset Allocation | | |
| Investment Grade | | 81.9% |
| High Yield | | 17.3% |
| Government | | 0.9% |
| | |
| Credit Quality Allocation (Higher of S&P/Moody/Fitch) | | |
| AAA | | 1.00% |
| AA | | 12.41% |
| A | | 33.66% |
| BBB | | 35.68% |
| BB | | 9.54% |
| B | | 7.71% |
| | |
| Top Ten Investment Grade Industries | | |
| Banking | | 22.67% |
| Communications | | 16.76% |
| Consumer Non Cyclical | | 8.62% |
| Energy | | 6.10% |
| Electric | | 5.20% |
| Insurance | | 4.30% |
| Basic Industry | | 4.10% |
| Natural Gas | | 3.46% |
| Finance Companies | | 2.83% |
| Capital Goods | | 2.25% |
| | |
| Top Five High Yield Industries | | |
| Bank Loans | | 5.31% |
| Consumer Cyclical | | 2.88% |
| Basic Industry | | 2.60% |
| Communications | | 2.14% |
| Consumer Non Cyclical | | 1.80% |
| | |
| Average Life (years) | | 11.17 |
| Effective Duration (years) | | 6.53 |
| Average Credit Quality (S&P) | | BBB+ |
| | |
| Portfolio Statistics: | | |
| Inception Date | | June 26, 2009 |
| Inception Price | | $20.00 |
| Net Assets | | $215,569,357 |
| Market Price | | $19.34 |
| NAV | | $20.45 |
| (Daily NAV is available on market quotation systems using the symbol XIGIX.) |
| | |
| Distribution Amount** | | $0.1045 per share |
| Frequency | | Monthly (declared monthly, paid monthly) |
| Leverage | | none |
* Portfolio holdings and weightings are historical and are subject to change at any time.
** The distribution amount was announced on July 27, 2009 for the months of August, September, October and November. The distribution amount is subject to change in future months.
Western Asset Investment Grade Defined Opportunity Trust Inc., a non-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.
Past performance is no guarantee of future results. An investment in the Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate. The data contained in this release is provided for informational purposes only. The shares of the Fund trade on the NYSE and are not sold by Legg Mason Partners Fund Advisor, LLC or any of its affiliates.
For more information, please call Fund Investor Relations at 888-777-0102 or consult the Fund’s web site at www.leggmason.com/cef.
For Western Asset Investment Grade Defined Opportunity Trust Inc.
Fund Investor Relations, 888-777-0102
www.leggmason.com/cef
