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Investment Objective
The Fund's primary investment objective is to provide current income for its shareholders. Capital appreciation, when consistent with current income, is a secondary investment objective.
Common Share Weekly Data
(as of Apr 25 2008)
| Closing Share Price | 13.90 |
| Closing NAV | 14.56 |
| Premium/(Discount) | -4.533% |
| Yield | 6.691% (Annualized) |
| 52 Week High/Low Share Price 1 | 15.70/12.88 |
| 52 Week High/Low NAV 1 | 16.07/14.26 |
Additional Information
(as of December 31 2007)
| Total Net Assets (MMs) | $142.0 |
| Shares Outstanding (MMs) | 9.4 |
| Duration (Years) | 6.72 |
| Average Rating for Credit Sector | BBB |
Common Share Inception Information
| Inception Date | March 22 1973 |
General Fund Literature
Contact Information
Transfer Agent:
ComputerShare Investor Services
866-290-4386
ComputerShare Investor Services
866-290-4386
Investment Advisor:
Western Asset Management
877-844-8800
Western Asset Management
877-844-8800
How to Invest
Purchase on the NYSE or contact your Financial Advisor
Portfolio Characteristics
(as of December 31 2007)
Sector
Quality
Quality
Top 10 Holdings
(as of December 31 2007)
| Description | Coupon | Maturity | % |
|---|---|---|---|
| FORD MOTOR COMPANY NOTE | 7.450 | Jul 16 2031 | 4.41% |
| PETROZUATA FINANCE INC NOTE | 8.220 | Apr 01 2017 | 2.39% |
| GENERAL MOTORS CORPORATION DEB | 8.250 | Jul 15 2023 | 2.03% |
| PNPP II FDG CRP DEB | 9.120 | May 30 2016 | 1.82% |
| RESIDENTIAL CAPITAL LLC SUB NOTES | 7.327 | Apr 17 2009 | 1.60% |
| EL PASO CORP MTN | 7.800 | Aug 01 2031 | 1.48% |
| AIG SUNAMER GLOB FIN VI SR NOTE | 6.300 | May 10 2011 | 1.38% |
| FREEPORT-MCMORAN C & G SR NOTES | 8.375 | Apr 01 2017 | 1.33% |
| HSBC FINANCE CORPORATION SR NOTES | 5.700 | Jun 01 2011 | 1.23% |
| AMERADA HESS CORP BOND | 7.875 | Oct 01 2029 | 1.22% |