skip navigation

Short Duration High Income


The strategy invests at least 80% of its assets in high yield debt securities including, but not limited to, high-yield corporate debt, adjustable rate bank loans, and structured securities. The Firm takes an active relative value trading approach across all sectors.

Investment Vehicles

Performance as of June 30, 2021

Returns for periods greater than one year are annualized. Please see the Performance and Risk Disclosures for more detail.

Portfolio Characteristics as of June 30, 2021

Leverage None
Credit Quality BB-
Effective Duration 1.79 years
Spread Duration 2.68 years
Yield-to-Worst 4.09%


Strategy AUM: Total Short Duration High Income Assets:
USD415.2 million (as of June 30, 2021)
Benchmark: Bloomberg Barclays US High Yield 1-5 Year Cash Pay 2% Issuer Cap Index
Inception Date: 01 May 13

Sector Allocation as of June 30, 2021

Sectors Portfolio (%) Benchmark (%)
Basic Industry 3.3 5.7
Capital Goods 4.8 8.6
Communications 9.8 10.6
Consumer Cyclical 21.4 23.8
Consumer Non Cyclical 11.6 10.5
Energy 10.1 14.3
Technology 7.4 6.7
Transportation 6.8 4.6
Industrial Other 0.5 1.2
Utility 0.7 1.8
Finance 12.6 12.3
EM Government 0.3 0.0
US Government 2.4 0.0
Structured 7.6 0.0
Cash & Cash Equivalents 0.8 0.0
Note: Sector allocation includes look-through to any underlying commingled vehicles if held. Data may not sum to total due to rounding.
IMPORTANT INFORMATION: All investments involve risk including loss of principal. Past performance is not indicative of future investment results. This information is only for use by professional clients, eligible counterparties or qualified investors. It is not aimed at, or for use by, retail clients.
Employees and/or clients of Western Asset may have a position in the securities mentioned. This has been prepared without taking into account your objectives, financial situation or needs. Before acting on this information, you should consider its appropriateness having regard to your objectives, financial situation or needs. It is your responsibility to be aware of and observe the applicable laws and regulations of your country of residence.

Western Asset Management Company Distribuidora de Títulos e Valores Mobiliários Limitada is authorised and regulated by Comissão de Valores Mobiliários and Banco Central do Brasil. Western Asset Management Company Pty Ltd ABN 41 117 767 923 is the holder of the Australian Financial Services Licence 303160. Western Asset Management Company Pte. Ltd. Co. Reg. No. 200007692R is a holder of a Capital Markets Services Licence for fund management and regulated by the Monetary Authority of Singapore. Western Asset Management Company Ltd is a registered Financial Instruments Business Operator and regulated by the Financial Services Agency of Japan. Western Asset Management Company Limited is authorised and regulated by the Financial Conduct Authority ("FCA") (FRN 145930). This communication is intended for distribution to Professional Clients only if deemed to be a financial promotion in the UK as defined by the FCA. This communication may also be intended for certain EEA countries where Western Asset has been granted permission to do so. For the current list of the approved EEA countries please contact Western Asset at +44 (0)20 7422 3000.