Western Asset Income Fund Announces Unaudited Earnings Results for the Quarter Ended March 31, 2016
July 07, 2016 at 08:00 am EDT
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Western Asset Income Fund announced unaudited earnings results for the quarter ended March 31, 2016. For the period, the company reported total net investment income of $1,667,096or $0.18 per common share compared to $1,648,537 or $0.17 per common share for the same period a year ago. Net Increase in net assets from operations was $4,125,274 or $0.44 per common share compared to $3,421,580 or $0.36 per common share for the same period a year ago. Undistributed net investment income per share was $0.13 compared to $0.11 for the same period a year ago. Undistributed net investment income was $1,204,168 compared to $1,076,326 for the same period a year ago. NAV per share of common stock was $14.10 compared to $15.03 at the same period a year ago.
Western Asset Investment Grade Income Fund Inc. (the Fund) is a diversified closed-end management investment company. The Fund primary investment objective is to seek a high level of current income, consistent with prudent investment risk, through investment in a diversified portfolio of debt securities. The Fund may also invest in privately placed debt securities and in certain equity securities. The Fund invests at least 80% of its net assets in fixed income securities that are rated in the Baa or BBB categories or above at the time of purchase by one or more Nationally Recognized Statistical Rating Organizations (NRSROs) or unrated securities of comparable quality at the time of purchase (as determined by the Adviser). In addition, the Fund may invest up to 20% in other fixed income securities, and not more than 25% in securities restricted as to resale. The Fund's investment adviser is Western Asset Management Company, LLC (Western Asset).
WESTERN ASSET INVESTMENT GRADE INCOME FUND INC. 