Western Asset Investment Grade Income Fund Inc. Announces Unaudited Earnings Results for the Quarter Ended March 31, 2018
May 22, 2018 at 06:00 pm IST
Share
Western Asset Investment Grade Income Fund Inc. announced unaudited earnings results for the quarter ended March 31, 2018. For the period, the company reported total net investment income of $1,572,532 or $0.17 per share compared to $1,664,464 or $0.18 per share a year ago. Total net realized/unrealized loss was $4,710,227 or $0.50 per share compared to total net realized/unrealized gain of $1,744,308 or $0.18 per share a year ago. Net decrease in net assets from operations was $3,137,695 or $0.33 per share compared to net increase in net assets from operations of $3,408,772 or $0.36 per share a year ago. NAV per share of common stock was $14.89 compared to $14.80 a year ago. Undistributed net investment income was $1,134,671 or $0.12 per share compared with $1,307,972 or $0.14 per share a year ago.
Western Asset Investment Grade Income Fund Inc. (the Fund) is a diversified closed-end management investment company. The Fund primary investment objective is to seek a high level of current income, consistent with prudent investment risk, through investment in a diversified portfolio of debt securities. The Fund may also invest in privately placed debt securities and in certain equity securities. The Fund invests at least 80% of its net assets in fixed income securities that are rated in the Baa or BBB categories or above at the time of purchase by one or more Nationally Recognized Statistical Rating Organizations (NRSROs) or unrated securities of comparable quality at the time of purchase (as determined by the Adviser). In addition, the Fund may invest up to 20% in other fixed income securities, and not more than 25% in securities restricted as to resale. The Fund's investment adviser is Western Asset Management Company, LLC (Western Asset).