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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Western Asset Variable Rate Strategic Fund | NYSE:GFY.WD | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 15.23 | 0.00 | 01:00:00 |
From Jul 2019 to Jul 2024
Western Asset Variable Rate Strategic Fund Inc. (NYSE:GFY) announces its portfolio composition as of December 31, 2016.
Investment Objective: The Fund’s investment objective is to maintain a high level of current income.
Portfolio Composition*:
Asset Allocation
Mortgage-Backed Securities
53.3%
Non-Agency MBS
37.8%
GNMA
5.9%
Agency Hybrids
1.7%
FNMA
2.1%
CMBS
5.8%
Investment Grade Corporate Bonds
20.7%
Asset-Backed Securities
7.9%
Emerging Market Debt
7.2%
Sovereign Debt External Currency
0.9%
Sovereign Debt Local Currency
3.0%
Corporates External Currency
3.3%
High Yield Corporate Bonds
6.0%
Bank Loans
2.1%
Government
2.1%
Cash & Other Securities
0.7%
Credit Quality Allocation**
AAA 16.1% AA 6.6% A 12.0% BBB 18.4% BB 11.8% B 7.6% CCC 11.7% CC 2.4% C 0.5% D 0.5% Not Rated 12.3%Top Five Investment Grade Industries
Banking 11.3% Finance Companies 2.4% Consumer Non Cyclical 2.2% Consumer Cyclical 1.6% Communications 1.1%Top Five High Yield Industries
Communications 1.9% Energy 1.8% Banking 1.2% Consumer Cyclical 0.5% Finance Companies 0.2%Top Emerging Market Countries
Brazil 3.9% Mexico 1.8% Russia 1.0% Kuwait 0.2% Colombia 0.2%Currency Allocation
US Dollar 97.2% Brazilian Real 1.5% Mexican Peso 1.3%Average Life (years)
6.9Effective Duration (years)
1.4Average Coupon (%)
3.3
Portfolio Statistics:
Inception Date
October 26, 2004
Inception Price
$20.00Total Assets***
$110,946,106Net Assets
$81,809,466Loans****
0.00%Preferred Shares****
0.00%Reverse Repos****
26.26%Market Price
$16.07NAV
$17.52 (Daily NAV is available on market quotation systems using the symbol XGFYX.)Distribution Rate
$0.07750 per share
Frequency
Monthly (Declared quarterly, paid monthly)
* Portfolio holdings and weightings are historical and are presented here for informational purposes only. They are subject to change at any time. **Credit quality is a measure of a bond issuer's ability to repay interest and principal in a timely manner. The credit ratings shown are based on each portfolio security’s rating as provided by Standard and Poor’s, Moody’s Investors Service and/or Fitch Ratings, Ltd. and typically range from AAA (highest) to D (lowest), or an equivalent and/or similar rating. For this purpose, when two or more of the agencies have assigned differing ratings to a security, the highest rating is used. Securities that are unrated by all three agencies are reflected as such. The credit quality of the investments in the Fund's portfolio does not apply to the stability or safety of the Fund. These ratings are updated monthly and may change over time. Please note, the Fund itself has not been rated by an independent rating agency.
*** The difference between total assets and net assets, if any, is due primarily to the Fund’s use of borrowings; net assets do not include borrowings. The Fund may employ leverage in the form of loans, preferred stock, reverse repurchase agreements and/or other instruments. When the Fund engages in transactions that have a leveraging effect on the Fund’s portfolio, the value of the Fund will be more volatile and all other risks will tend to be compounded. **** Percentages are based on total assets. If the Fund employs leverage, the Effective Duration is based on net assets.Western Asset Variable Rate Strategic Fund Inc., a non-diversified closed-end investment management company traded on the New York Stock Exchange under the symbol “GFY”, is advised by Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc., and is sub-advised by Western Asset Management Company, an affiliate of the advisor.
An investment in the Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate. Fixed income securities are subject to credit risk, inflation risk, call risk, and interest rate risks. As interest rates rise, bond prices fall, reducing the value of the Fund's share price. International investing is subject to additional risks. These risks are greater in emerging markets.
Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Fund.
For more information, please call Fund Investor Services at 1-888-777-0102, or consult the Fund’s web site at http://www.lmcef.com. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.
FN1112205
View source version on businesswire.com: http://www.businesswire.com/news/home/20170130006088/en/
Legg Mason, Inc.Maria Rosati, 1-212-805-6036mrosati@leggmason.com
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