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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Managed High Yield Plus Fund, Inc. | NYSE:HYF | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.88 | 0 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-08765
Managed High Yield Plus Fund Inc.
51 West 52 nd Street, New York, New York 10019-6114
Mark F. Kemper, Esq.
UBS Global Asset Management
51 West 52
nd
Street
New York, NY 10019-6114
(Name and address of agent for service)
Copy to:
Jack W. Murphy, Esq.
Dechert LLP
1775 I Street, N.W.
Washington, DC 20006-2401
Registrants telephone number, including area code: 212-882 5000
Date of fiscal year end: May 31
Date of reporting period: February 29, 2008
Item 1. Schedule of Investments
Managed High Yield Plus Fund Inc.
Schedule of investmentsFebruary 29, 2008 (unaudited)
Face | ||||
amount ($) | Value ($) | |||
|
||||
Corporate bonds141.02% | ||||
|
||||
Agriculture 1.42% | ||||
|
||||
Southern States Cooperative, Inc. | ||||
10.500%, due 11/01/10 1,2 |
3,000,000 | 3,105,000 | ||
|
||||
Automobile OEM 1.05% | ||||
|
||||
General Motors | ||||
8.375%, due 07/15/33 2 |
3,000,000 | 2,295,000 | ||
|
||||
Automotive parts 4.02% | ||||
|
||||
ArvinMeritor, Inc. | ||||
8.125%, due 09/15/15 2 |
6,200,000 | 5,130,500 | ||
|
||||
Stanadyne Corp. | ||||
10.000%, due 08/15/14 2 |
4,000,000 | 3,640,000 | ||
|
||||
8,770,500 | ||||
|
||||
Building materials 11.88% | ||||
|
||||
Coleman Cable, Inc. | ||||
9.875%, due 10/01/12 2 |
4,850,000 | 4,268,000 | ||
|
||||
CPG International, Inc. | ||||
10.500%, due 07/01/13 2 |
6,000,000 | 5,280,000 | ||
|
||||
Dayton Superior Corp. | ||||
13.000%, due 06/15/09 2 |
3,000,000 | 2,625,000 | ||
|
||||
Interface, Inc. | ||||
10.375%, due 02/01/10 2 |
4,075,000 | 4,258,375 | ||
|
||||
Masonite Corp. | ||||
11.000%, due 04/06/15 2 |
5,000,000 | 3,475,000 | ||
|
||||
Masonite International Corp. | ||||
11.000%, due 04/06/15 2 |
3,000,000 | 2,070,000 | ||
|
||||
US Concrete, Inc. | ||||
8.375%, due 04/01/14 2 |
4,800,000 | 3,960,000 | ||
|
||||
25,936,375 | ||||
|
||||
Business services/office equipment 6.16% | ||||
|
||||
Harland Clarke Holdings | ||||
9.500%, due 05/15/15 2 |
7,750,000 | 5,735,000 | ||
|
||||
Invensys PLC | ||||
9.875%, due 03/15/11 1,2 |
576,000 | 607,533 | ||
|
||||
Xerox Capital Trust I | ||||
8.000%, due 02/01/27 2 |
7,000,000 | 7,114,891 | ||
|
||||
13,457,424 | ||||
|
||||
Chemicals 5.62% | ||||
|
||||
Ineos Group Holdings PLC | ||||
8.500%, due 02/15/16 1,2 |
6,000,000 | 4,500,000 | ||
|
||||
Momentive Performance | ||||
9.750%, due 12/01/14 2 |
2,500,000 | 2,237,500 | ||
10.125%, due 12/01/14 2 |
4,000,000 | 3,430,000 | ||
11.500%, due 12/01/16 2 |
1,000,000 | 765,000 | ||
|
||||
Montell Finance Co. BV | ||||
8.100%, due 03/15/27 1,2 |
2,012,000 | 1,327,920 | ||
|
||||
12,260,420 | ||||
|
Managed High Yield Plus Fund Inc.
Schedule of investmentsFebruary 29, 2008 (unaudited)
Face | ||||
amount ($) | Value ($) | |||
|
||||
Corporate bonds(continued) | ||||
|
||||
Consumer products-durables 1.04% | ||||
|
||||
Da-Lite Screen Co., Inc. | ||||
9.500%, due 05/15/11 2 |
2,500,000 | 2,275,000 | ||
|
||||
Consumer products-non durables 1.84% | ||||
|
||||
Prestige Brands, Inc. | ||||
9.250%, due 04/15/12 2 |
4,060,000 | 4,019,400 | ||
|
||||
Consumer services 5.48% | ||||
|
||||
Ahern Rentals, Inc. | ||||
9.250%, due 08/15/13 2 |
4,750,000 | 3,728,750 | ||
|
||||
Ashtead Holdings PLC | ||||
8.625%, due 08/01/15 1,2 |
2,000,000 | 1,630,000 | ||
|
||||
Hertz Corp. | ||||
10.500%, due 01/01/16 2 |
4,000,000 | 3,800,000 | ||
|
||||
Sunstate Equipment Co. | ||||
10.500%, due 04/01/13 1,2 |
3,500,000 | 2,800,000 | ||
|
||||
11,958,750 | ||||
|
||||
Defense/aerospace 3.14% | ||||
|
||||
Hawker Beechcraft Acquisition Co. | ||||
8.875%, due 04/01/15 2 |
5,750,000 | 5,865,000 | ||
9.750%, due 04/01/17 2 |
1,000,000 | 992,500 | ||
|
||||
6,857,500 | ||||
|
||||
Electric-generation 1.23% | ||||
|
||||
Mirant Americas Generation LLC | ||||
9.125%, due 05/01/31 2 |
3,000,000 | 2,685,000 | ||
|
||||
Electronics 4.95% | ||||
|
||||
NXP BV/NXP Funding LLC | ||||
9.500%, due 10/15/15 2 |
6,000,000 | 4,976,280 | ||
|
||||
Sanmina-SCI Corp. | ||||
7.741%, due 06/15/14 1,2,3 |
1,500,000 | 1,380,000 | ||
8.125%, due 03/01/16 2 |
5,000,000 | 4,450,000 | ||
|
||||
10,806,280 | ||||
|
||||
Finance-captive automotive 3.02% | ||||
|
||||
Ford Motor Credit Co. LLC | ||||
9.750%, due 09/15/10 2 |
7,000,000 | 6,582,674 | ||
|
||||
Finance-noncaptive consumer 5.22% | ||||
|
||||
Countrywide Financial Corp. | ||||
3.345%, due 05/05/08 2,3 |
600,000 | 589,252 | ||
|
||||
Countrywide Home Loan | ||||
3.250%, due 05/21/08 2 |
3,975,000 | 3,867,516 | ||
|
||||
Residential Capital LLC | ||||
5.646%, due 06/09/08 2,3 |
7,800,000 | 6,942,000 | ||
|
||||
11,398,768 | ||||
|
Managed High Yield Plus Fund Inc.
Schedule of investmentsFebruary 29, 2008 (unaudited)
Face | ||||
amount ($) | Value ($) | |||
|
||||
Corporate bonds(continued) | ||||
|
||||
Finance-noncaptive diversified 1.81% | ||||
|
||||
GMAC LLC | ||||
7.250%, due 03/02/11 2 |
2,000,000 | 1,687,972 | ||
|
||||
8.000%, due 11/01/31 2 |
3,000,000 | 2,267,976 | ||
|
||||
3,955,948 | ||||
|
||||
Food 1.19% | ||||
|
||||
Ameriqual Group LLC | ||||
9.500%, due 04/01/12 1,2 |
4,000,000 | 2,600,000 | ||
|
||||
Gaming 10.81% | ||||
|
||||
Circus & Eldorado Joint Venture | ||||
10.125%, due 03/01/12 2 |
4,500,000 | 4,528,125 | ||
|
||||
Inn Of The Mountain Gods Resort & Casino | ||||
12.000%, due 11/15/10 2 |
4,400,000 | 4,334,000 | ||
|
||||
Jacobs Entertainment, Inc. | ||||
9.750%, due 06/15/14 2 |
6,750,000 | 5,602,500 | ||
|
||||
Little Traverse Bay Bands of Odawa Indians | ||||
10.250%, due 02/15/14 1,2 |
3,000,000 | 3,003,750 | ||
|
||||
MTR Gaming Group, Inc., Series B | ||||
9.750%, due 04/01/10 2 |
2,525,000 | 2,449,250 | ||
|
||||
Pokagon Gaming Authority | ||||
10.375%, due 06/15/14 1,2 |
2,983,000 | 3,102,320 | ||
|
||||
Tropicana Entertainment LLC/Finance Corp. | ||||
9.625%, due 12/15/14 2 |
1,200,000 | 576,000 | ||
|
||||
23,595,945 | ||||
|
||||
Health care 3.14% | ||||
|
||||
Community Health Systems | ||||
8.875%, due 07/15/15 2 |
4,900,000 | 4,808,125 | ||
|
||||
HCA, Inc. | ||||
9.125%, due 11/15/14 2 |
2,000,000 | 2,040,000 | ||
|
||||
6,848,125 | ||||
|
||||
Home construction 0.44% | ||||
|
||||
Stanley Martin-Community LLC | ||||
9.750%, due 08/15/15 2 |
2,000,000 | 960,000 | ||
|
||||
Industrial-other 4.31% | ||||
|
||||
ARAMARK Services, Inc. | ||||
6.739%, due 02/01/15 2,3 |
5,145,000 | 4,501,875 | ||
|
||||
Mobile Services/Storage Group | ||||
9.750%, due 08/01/14 2 |
5,250,000 | 4,908,750 | ||
|
||||
9,410,625 | ||||
|
||||
Media-broadcast/outdoor 7.69% | ||||
|
||||
CMP Susquehanna | ||||
9.875%, due 05/15/14 2 |
5,775,000 | 3,818,719 | ||
|
||||
LIN Television Corp. | ||||
6.500%, due 05/15/13 2 |
2,000,000 | 1,810,000 | ||
Series B, 6.500%, due 05/15/13 2 |
1,750,000 | 1,583,750 | ||
|
||||
Sirius Satellite Radio | ||||
9.625%, due 08/01/13 2 |
3,450,000 | 2,846,250 | ||
|
Managed High Yield Plus Fund Inc.
Schedule of investmentsFebruary 29, 2008 (unaudited)
Face | ||||
amount ($) | Value ($) | |||
|
||||
Corporate bonds(continued) | ||||
|
||||
Media-broadcast/outdoor(concluded) | ||||
|
||||
Univision Communications | ||||
9.750%, due 03/15/15 1,2 |
7,400,000 | 5,106,000 | ||
|
||||
Young Broadcasting, Inc. | ||||
10.000%, due 03/01/11 2 |
2,358,000 | 1,627,020 | ||
|
||||
16,791,739 | ||||
|
||||
Media-cable 0.98% | ||||
|
||||
CCH I Holdings LLC | ||||
10.000%, due 05/15/14 2 |
3,000,000 | 1,455,000 | ||
|
||||
Rainbow National Services LLC | ||||
10.375%, due 09/01/14 1,2 |
648,000 | 690,120 | ||
|
||||
2,145,120 | ||||
|
||||
Media-publishing 6.12% | ||||
|
||||
American Color Graphics, Inc. | ||||
10.000%, due 06/15/10 2 |
2,250,000 | 1,080,000 | ||
|
||||
American Media Operation, Series B | ||||
10.250%, due 05/01/09 1,2 |
145,440 | 99,626 | ||
10.250%, due 05/01/09 2 |
4,000,000 | 2,740,000 | ||
|
||||
Hollinger, Inc. | ||||
12.875%, due 03/01/11 1,4, * |
975,000 | 97,500 | ||
|
||||
Quebecor World Capital Corp. | ||||
4.875%, due 11/15/08 4, * |
1,500,000 | 663,750 | ||
8.750%, due 03/15/16 1,4, * |
4,625,000 | 2,243,125 | ||
|
||||
Sheridan Acquisition Corp. | ||||
10.250%, due 08/15/11 2 |
5,500,000 | 4,785,000 | ||
|
||||
Vertis, Inc., Series B | ||||
10.875%, due 06/15/09 2 |
5,125,000 | 1,652,813 | ||
|
||||
13,361,814 | ||||
|
||||
Media-services 3.71% | ||||
|
||||
Affinion Group, Inc. | ||||
10.125%, due 10/15/13 2 |
4,000,000 | 3,920,000 | ||
|
||||
Baker & Taylor, Inc. | ||||
11.500%, due 07/01/13 1,2 |
4,500,000 | 4,179,375 | ||
|
||||
8,099,375 | ||||
|
||||
Metals/mining excluding steel 2.72% | ||||
|
||||
American Rock Salt Co. LLC | ||||
9.500%, due 03/15/14 2 |
3,000,000 | 3,060,000 | ||
|
||||
Neenah Corp. | ||||
9.500%, due 01/01/17 2 |
4,000,000 | 2,880,000 | ||
|
||||
5,940,000 | ||||
|
||||
Packaging & containers 5.41% | ||||
|
||||
Exopack Holding Corp. | ||||
11.250%, due 02/01/14 2 |
4,000,000 | 3,700,000 | ||
|
||||
Graham Packaging Co. | ||||
9.875%, due 10/15/14 2 |
3,000,000 | 2,557,500 | ||
|
||||
Stone Container Finance | ||||
7.375%, due 07/15/14 2 |
6,250,000 | 5,562,500 | ||
|
||||
11,820,000 | ||||
|
Managed High Yield Plus Fund Inc.
Schedule of investmentsFebruary 29, 2008 (unaudited)
Face | ||||
amount ($) | Value ($) | |||
|
||||
Corporate bonds(continued) | ||||
|
||||
Paper/forest products 14.93% | ||||
|
||||
Abitibi-Consolidated, Inc. | ||||
8.550%, due 08/01/10 2 |
7,500,000 | 4,190,625 | ||
|
||||
Ainsworth Lumber | ||||
7.250%, due 10/01/12 2 |
7,500,000 | 4,781,250 | ||
|
||||
Boise Cascade LLC | ||||
7.125%, due 10/15/14 2 |
1,600,000 | 1,504,000 | ||
|
||||
Bowater Canada Finance | ||||
7.950%, due 11/15/11 2 |
7,750,000 | 5,076,250 | ||
|
||||
Bowater, Inc. | ||||
9.500%, due 10/15/12 2 |
1,250,000 | 787,500 | ||
|
||||
Cellu Tissue Holdings, Inc. | ||||
9.750%, due 03/15/10 2 |
5,000,000 | 4,625,000 | ||
|
||||
Millar Western Forest | ||||
7.750%, due 11/15/13 2 |
1,000,000 | 725,000 | ||
|
||||
Newpage Corp. | ||||
10.000%, due 05/01/12 2 |
4,000,000 | 4,010,000 | ||
12.000%, due 05/01/13 2 |
1,000,000 | 985,000 | ||
|
||||
Verso Paper Holdings LLC | ||||
9.125%, due 08/01/14 2 |
1,000,000 | 942,500 | ||
11.375%, due 08/01/16 2 |
5,500,000 | 4,977,500 | ||
|
||||
32,604,625 | ||||
|
||||
Real estate management services 2.06% | ||||
|
||||
Realogy Corp. | ||||
12.375%, due 04/15/15 2 |
8,500,000 | 4,505,000 | ||
|
||||
Retail-restaurants 0.05% | ||||
|
||||
Buffets, Inc. | ||||
12.500%, due 11/01/14 4, * |
4,500,000 | 112,500 | ||
|
||||
Retail-specialty 3.01% | ||||
|
||||
Brookstone Co., Inc. | ||||
12.000%, due 10/15/12 2 |
4,400,000 | 4,092,000 | ||
|
||||
GameStop Corp. | ||||
8.000%, due 10/01/12 2 |
2,350,000 | 2,476,312 | ||
|
||||
6,568,312 | ||||
|
||||
Steel producers/products 0.43% | ||||
|
||||
Ryerson, Inc. | ||||
12.000%, due 11/01/15 1,2 |
1,000,000 | 940,000 | ||
|
||||
Technology-hardware 2.72% | ||||
|
||||
Freescale Semiconductor | ||||
8.875%, due 12/15/14 2 |
1,200,000 | 978,000 | ||
10.125%, due 12/15/16 2 |
7,000,000 | 4,970,000 | ||
|
||||
5,948,000 | ||||
|
||||
Technology-software 4.23% | ||||
|
||||
Sungard Data Systems, Inc. | ||||
10.250%, due 08/15/15 2 |
6,250,000 | 6,218,750 | ||
|
||||
Unisys Corp. | ||||
8.500%, due 10/15/15 2 |
3,500,000 | 3,027,500 | ||
|
||||
9,246,250 | ||||
|
Managed High Yield Plus Fund Inc.
Schedule of investmentsFebruary 29, 2008 (unaudited)
Face | ||||
amount ($) | Value ($) | |||
|
||||
Corporate bonds(concluded) | ||||
|
||||
Telecom-satellite 1.81% | ||||
|
||||
Echostar DBS Corp. | ||||
6.625%, due 10/01/14 2 |
1,000,000 | 962,500 | ||
|
||||
Intelsat Subsidiary Holding Co. Ltd. | ||||
8.625%, due 01/15/15 2 |
3,000,000 | 3,000,000 | ||
|
||||
3,962,500 | ||||
|
||||
Telecom-wireless 2.60% | ||||
|
||||
US Unwired, Inc., Series B | ||||
10.000%, due 06/15/12 2 |
1,750,000 | 1,627,500 | ||
|
||||
Wind Acquisition Finance SA | ||||
10.750%, due 12/01/15 1,2 |
4,000,000 | 4,050,000 | ||
|
||||
5,677,500 | ||||
|
||||
Telecom-wirelines 2.53% | ||||
|
||||
Citizens Communications | ||||
9.000%, due 08/15/31 2 |
6,000,000 | 5,520,000 | ||
|
||||
Textile/apparel 1.15% | ||||
|
||||
Rafaella Apparel Group | ||||
11.250%, due 06/15/11 2 |
3,333,000 | 2,499,750 | ||
|
||||
Transportation services 1.10% | ||||
|
||||
Navios Maritime Holdings | ||||
9.500%, due 12/15/14 2 |
2,500,000 | 2,406,250 | ||
|
||||
Total corporate bonds (cost$373,599,443) | 307,927,469 | |||
|
||||
Number of | ||||
Security description | shares/units | |||
|
||||
Common stocks* 0.02% | ||||
|
||||
Consumer services 0.00% | ||||
|
||||
NCI Holdings, Inc. 5,6 | 5,456 | 0 | ||
|
||||
Energy-refining & marketing 0.00% | ||||
|
||||
Orion Refining Corp. 5,6 | 1,253 | 0 | ||
|
||||
Retail-restaurants 0.00% | ||||
|
||||
American Restaurant Group, Inc. 5,6 | 129 | 0 | ||
|
||||
Technology software 0.01% | ||||
|
||||
Knology, Inc. 2 | 693 | 8,461 | ||
|
||||
Telecom-wireless 0.01% | ||||
|
||||
American Tower Corp., Class A 2 | 636 | 24,448 | ||
|
||||
Telecom-wirelines 0.00% | ||||
|
||||
XO Holdings, Inc. 2 | 1,052 | 1,736 | ||
|
||||
Total common stocks (cost$2,721,882) | 34,645 | |||
|
||||
Other equity security* 0.00% | ||||
|
||||
Media-cable 0.00% | ||||
|
||||
Adelphia Contingent Value Vehicle 5,6,7 (cost$0) | 2,000,000 | 0 | ||
|
Managed High Yield Plus Fund Inc.
Schedule of investmentsFebruary 29, 2008 (unaudited)
Number of | |||||
Security description | warrants | Value ($) | |||
|
|||||
Warrants* 0.26% | |||||
|
|||||
Building materials 0.00% | |||||
|
|||||
Dayton Superior Corp., strike @ $0.01 expires 06/15/09 5,6,8 | 2,500 | 0 | |||
|
|||||
Energy-oilfield services 0.26% | |||||
|
|||||
Key Energy Services, Inc., strike @ $4.88 expires 01/15/09 2 | 4,500 | 563,063 | |||
|
|||||
Telecom-wirelines 0.00% | |||||
|
|||||
Pathnet, Inc., strike @ $0.01, expires 04/15/08 5,6 | 4,950 | 0 | |||
|
|||||
XO Holdings, Inc., | |||||
Series A, strike @ $6.25, expires 01/16/10 2 |
2,105 | 253 | |||
Series B, strike @ $7.50, expires 01/16/10 2 |
1,578 | 79 | |||
Series C, strike @ $10.00, expires 01/16/10 2 |
1,578 | 31 | |||
|
|||||
Total warrants (cost$46,560) | 563,426 | ||||
|
|||||
Face | |||||
amount ($) | |||||
|
|||||
Repurchase agreement 3.60% | |||||
|
|||||
Repurchase agreement dated 02/29/08 with State Street Bank & Trust Co., 1.260% due 03/03/08, collateralized by $4,649,511 US Treasury Bills, zero coupon due 04/15/08, $66,674 US Treasury Bills, zero coupon due 08/21/08, $161,215 US Treasury Bonds, 7.125% to 7.250% due 05/15/16 to 02/15/23 and $3,071,963 US Treasury Notes, 4.875% due 08/31/08; (value$8,028,442); proceeds: $7,871,826 (cost$7,871,000) |
7,871,000 | 7,871,000 | |||
|
|||||
Total investments (cost$384,238,885) 9,10 144.90% | 316,396,540 | ||||
|
|||||
Liabilities in excess of other assets (44.90)% | (98,046,052 | ) | |||
|
|||||
Net assets 100.00% | 218,350,488 | ||||
|
* | Non-income producing. | |
1 | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities, which represent 18.99% of net assets as of February 29, 2008, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |
2 | Entire or partial amount pledged as collateral for bank loan. | |
3 | Floating rate security. The interest rate shown is the current rate as of February 29, 2008. | |
4 | Bond interest in default. | |
5 | Illiquid securities representing 0.00% of net assets as of February 29, 2008. | |
6 | Security is being fair valued by a valuation committee under the direction of the board of directors. | |
7 | Represents contingent value vehicle (CVV) obligations. The CVV obligations represent units in a trust that was formed pursuant to a Plan of Reorganization of Adelphia Communications Corporation to hold certain litigation claims against Adelphias third party lenders, accountants and other parties. |
Managed High Yield Plus Fund Inc.
Schedule of investmentsFebruary 29, 2008 (unaudited)
8 | Security exempt from registration under Rule 144A of the Securities Act of 1933. This security, which represents 0.00% of net assets as of February 29, 2008, is considered illiquid and restricted. (See table below for more information). |
Acquisition | |||||||||||||||
cost as a | Value as a | ||||||||||||||
Acquisition | Acquisition | percentage of | Value at | percentage of | |||||||||||
Restricted security | date | cost ($) | net assets (%) | 02/29/08 ($) | net assets (%) | ||||||||||
|
|||||||||||||||
Dayton Superior Corp., warrants, expiring 06/15/09 | 06/09/00 | 46,550 | 0.02 | 0 | 0.00 | ||||||||||
|
9 | Cost of investments shown approximates cost for federal income tax purposes. Gross unrealized appreciation of investments and gross unrealized depreciation of investments at February 29, 2008 were $1,307,042 and $69,149,387, respectively, resulting in net unrealized depreciation of investments of $67,842,345. |
10 | The Fund calculates its net asset value based on the current market value, where available, for its portfolio securities. The Fund normally obtains market values for its securities from independent pricing sources and broker-dealers. Independent pricing sources may use last reported sale prices, current market quotations or valuations from computerized matrix systems that derive values based on comparable securities. A matrix system incorporates parameters such as security quality, maturity and coupon, and/or research and evaluations by its staff, including review of broker-dealer market price quotations, if available, in determining the valuation of the portfolio securities. Securities traded in the over-the-counter (OTC) market and listed on The Nasdaq Stock Market, Inc. (Nasdaq) normally are valued at the NASDAQ Official Closing Price. Other OTC securities are valued at the last bid price available on the valuation date prior to valuation. Securities which are listed on US and foreign stock exchanges normally are valued at the last sale price on the day the securities are valued or, lacking any sales on such day, at the last available bid price. In cases where securities are traded on more than one exchange, the securities are valued on the exchange designated as the primary market by UBS Global Asset Management (Americas) Inc. (UBS Global AM), the investment manager and administrator of the Fund. UBS Global AM is an indirect wholly owned asset management subsidiary of UBS AG, an internationally diversified organization with headquarters in Zurich and Basel, Switzerland and operations in many areas of the financial services industry. If a market value is not available from an independent pricing source for a particular security, that security is valued at fair value as determined in good faith by or under the direction of the Funds Board of Directors (the Board). Various factors may be reviewed in order to make a good faith determination of a securitys fair value. These factors include, but are not limited to, the type and cost of the security; contractual or legal restrictions on resale of the security; relevant financial or business developments of the issuer; actively traded similar or related securities; conversion or exchange rights on the security; related corporate actions; and changes in overall market conditions. Occasionally, events affecting the value of foreign investments occur between the time at which they are determined and the close of the New York Stock Exchange (NYSE), which will not be reflected in the computation of the Funds net asset value. If events materially affecting the value of such securities occur during such time periods, the securities will be valued at their fair value as determined in good faith by or under the direction of the Board. The amortized cost method of valuation, which approximates market value, generally is used to value short-term debt instruments with sixty days or less remaining to maturity, unless the Board determines that this does not represent fair value. All investments quoted in foreign currencies will be valued daily in US dollars on the basis of the foreign currency exchange rates prevailing at the time such valuation is determined by the Funds custodian. | |
In September 2006, the Financial Accounting Standards Board (FASB) issued Statement on Financial Accounting Standards No. 157, Fair Value Measurements (FAS 157). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. FAS 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007 and interim periods within those fiscal years. As of February 29, 2008, management does not believe the adoption of FAS 157 will impact the amounts reported in the financial statements, however, additional disclosures will be required about the inputs used to develop the measurements of fair value and the effect of certain measurements reported on the Statement of operations for a fiscal period. |
GMAC | General Motors Acceptance Corporation | |
OEM | Original Equipment Manufacturer |
Issuer breakdown by country or territory of origin | Percentage of total investments (%) | |||
|
||||
United States | 84.9 | |||
|
||||
Canada | 8.0 | |||
|
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United Kingdom | 2.1 | |||
|
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Netherlands | 2.0 | |||
|
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Luxembourg | 1.3 | |||
|
||||
Bermuda | 0.9 | |||
|
||||
Marshall Islands | 0.8 | |||
|
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Total | 100.0 | |||
|
For more information regarding the Funds other significant accounting policies, please refer to the Funds semiannual report to shareholders dated November 30, 2007.
Item 2. Controls and Procedures.
(a) |
The registrants
principal executive officer and principal financial officer have concluded that the registrants
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of
1940, as amended (Investment Company Act)) are effective based on their
evaluation of these controls and procedures as of a date within 90 days of the
filing date of this document.
|
|
(b) |
The registrants
principal executive officer and principal financial officer are aware of no
changes in the registrants internal control over financial reporting (as
defined in Rule 30a-3(d) under the Investment Company Act) that occurred during
the registrants last fiscal quarter that has materially affected, or is
reasonably likely to materially affect, the registrants internal control over
financial reporting.
|
Item 3. Exhibits.
(a) |
Certifications
of principal executive officer and principal financial officer of registrant
pursuant to Rule 30a-2(a) under the Investment Company Act is attached hereto as
Exhibit EX-99.CERT.
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Managed High Yield Plus Fund Inc.
By: | /s/ Kai R. Sotorp | |
Kai R. Sotorp | ||
President | ||
Date: | April 29, 2008 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Kai R. Sotorp | |
Kai R. Sotorp | ||
President | ||
Date: | April 29, 2008 | |
By: | /s/ Thomas Disbrow | |
Thomas Disbrow | ||
Vice President and Treasurer | ||
Date: | April 29, 2008 |
1 Year Managed High Yield Plus Fund, Inc. Chart |
1 Month Managed High Yield Plus Fund, Inc. Chart |
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