Western Asset Managed High Income Fund Inc. Portfolio Composition as of June 30, 2015

Western Asset Managed High Income Fund Inc. (NYSE:MHY) announces its portfolio composition as of June 30, 2015.

Investment Objective: The Fund’s primary investment objective is high current income. Capital appreciation is a secondary objective.

Portfolio Composition*:

Asset Allocation

High Yield Corporate Bonds

82.8%

Investment Grade Corporate Bonds

6.1%

Emerging Market Debt

3.0%

Corporates External Currency

 

3.0%

Bank Loans

2.1%

Cash & Other Securities

6.1%

Credit Quality Allocation**

 

        
        
        
      
      
        
          A
        
        
        
        
          0.2%
        
      
      
        
          BBB
        
        
        
        
          6.2%
        
      
      
        
          BB
        
        
        
        
          17.8%
        
      
      
        
          B
        
        
        
        
          43.3%
        
      
      
        
          CCC
        
        
        
        
          23.0%
        
      
      
        
          CC
        
        
        
        
          0.3%
        
      
      
        
          C
        
        
        
        
          1.0%
        
      
      
        
          Not Rated
        
        
        
        
          8.2%
        
      
      
        
        
        
        
        
           
        
      
      
        
          

Top Ten High Yield Industries

        
        
        
        
        
      
      
        
          Communications
        
        
        
        
          13.6%
        
      
      
        
          Consumer Non Cyclical
        
        
        
        
          12.3%
        
      
      
        
          Energy
        
        
        
        
          11.8%
        
      
      
        
          Consumer Cyclical
        
        
        
        
          11.3%
        
      
      
        
          Capital Goods
        
        
        
        
          7.1%
        
      
      
        
          Basic Industry
        
        
        
        
          6.4%
        
      
      
        
          Transportation
        
        
        
        
          4.6%
        
      
      
        
          Banking
        
        
        
        
          4.3%
        
      
      
        
          Finance Companies
        
        
        
        
          3.8%
        
      
      
        
          Electric
        
        
        
        
          2.7%
        
      
      
        
        
        
        
        
           
        
      
      
        
          

Top Emerging Market Countries

        
        
        
        
        
      
      
        
          Brazil
        
        
        
        
          1.3%
        
      
      
        
          Russia
        
        
        
        
          0.8%
        
      
      
        
          Guernsey
        
        
        
        
          0.4%
        
      
      
        
          Hong Kong
        
        
        
        
          0.3%
        
      
      
        
          United Arab Emirates
        
        
        
        
          0.2%
        
      
      
        
        
        
        
        
           
        
      
      
        
          

Average Life (years)

        
        
        
        
          5.9
        
      
      
        
          

Effective Duration (years)

        
        
        
        
          3.8
        
      
      
        
          

Average Coupon (%)

        
        
        
        
          7.5
        
      
      
        
        
        
        
        
           
        
      
      
        
          

Portfolio Statistics:

Inception Date

 

March 26, 1993

Inception Price

 

$12.00

Total Assets***

 

$275,696,787

Net Assets

 

$270,615,667

Loans

        
        
        
        
          0.00%
        
      
      
        
          

Preferred Shares

        
        
        
        
          0.00%
        
      
      
        
          

Reverse Repos

        
        
        
        
          0.00%
        
      
      
        
        
        
        
        
           
        
      
      
        
          

Market Price

 

$4.94

NAV

 

$5.73

        
      
      
        
          (Daily NAV is available on marketquotation systems using the symbol 
          XMHYX.)
        
      
      
        
        
        
        
        
          

 

Distribution Rate

 

$0.0345 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 
          lowest 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.
        
      
    
    

Western Asset Managed High Income Fund Inc., a diversified closed-end investment management company, 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. High yield or "junk bonds" are subject to additional risks.

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.

FN1112215

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Western Asset Managed High Income Fund Inc.Fund Investor Services, 1-888-777-0102