Western Asset Mortgage Defined Opportunity Fund Inc. 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 Mortgage Defined Opportunity Fund Inc. announced unaudited earnings results for the quarter ended September 30, 2016. For the quarter, the company's total net investment income was $5,053,085 or $0.48 per share compared with $5,547,114 or $0.53 per share a year ago. Total net realized/unrealized gain was $8,953,743 or $0.86 per share compared with loss of $3,640,741 or $0.35 per share a year ago. Net increase in net assets from operations was $14,006,828 or $1.34 per share compared with $1,906,373 or $0.18 per share a year ago. Undistributed net investment income was $20,663,647 or $1.98 per share compared with $6,428,440 or $0.62 per share a year ago. As on September 30, 2016, the company's NAV per share of common stock was $21.97.
Western Asset Mortgage Opportunity Fund Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fundâs primary investment objective is to provide current income. As a secondary investment objective, the Fund will seek capital appreciation. The Fund seeks to achieve its investment objectives by investing primarily in a diverse portfolio of mortgage-backed securities and mortgage whole loans. Investments in mortgage-backed securities consist primarily of non-agency residential mortgage-backed securities and commercial mortgage-backed securities. The Fundâs investments in mortgage whole loans under normal circumstances will not exceed 20% of its managed assets. The Fund also may invest in other permitted investments, including cash and cash equivalents; Treasury securities; non-mortgage related asset-backed securities (ABS) backed by various asset classes. Legg Mason Partners Fund Advisor, LLC is the investment manager of the Fund.
WESTERN ASSET MORTGAGE OPPORTUNITY FUND INC. 
