Western Asset Income Fund Announces Unaudited Earnings Results for the Quarter Ended September 30, 2016
December 29, 2016 at 08:00 am EST
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Western Asset Income Fund announced unaudited earnings results for the quarter ended September 30, 2015. For the quarter, the company reported total net investment income of $1,680,811 or $0.18 per share compared to $1,677,363 or $0.18 per share a year ago. Total net realized/unrealized gain of 3,294,209 or $0.35 per share compared to total net realized/unrealized loss of $3,996,572 or $0.42 per share a year ago. Net increase in net assets from operations was $4,975,020 or $0.53 per share compared to net decrease in net assets from operations was $2,319,209 or $0.24 per share a year ago. NAV per share of common stock was $14.97 compared to $14.07 a year ago. Undistributed Net Investment Income was $1,273,464 or $0.13 per share compared with $1,164,713 or $0.12 per share 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. 