Western Asset Emerging Mrkts Dbt Fnd : Markets Debt Fund Inc. : Portfolio Composition as of December 31, 2015
January 29, 2016 at 09:02 am EST
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Western Asset Emerging Markets Debt Fund Inc. (NYSE: ESD) announces its
portfolio composition as of December 31, 2015.
Investment Objective: The Fund’s primary investment objective is
total return. The Fund’s secondary objective is high current income.
Portfolio Composition*:
Asset Allocation
Emerging Market Debt
95.4
%
Sovereign Debt External Currency
70.6
%
Sovereign Debt Local Currency
0.8
%
Corporates External Currency
23.6
%
Corporates Local Currency
0.4
%
Cash & Other Securities
4.6
%
Credit Quality Allocation**
AA
5.2
%
A
13.9
%
BBB
44.2
%
BB
19.4
%
B
6.0
%
CCC
6.4
%
Not Rated
4.8
%
Top Ten Emerging Market Countries
Mexico
12.3
%
Russia
8.3
%
Indonesia
8.2
%
Turkey
7.3
%
Colombia
5.0
%
Brazil
5.0
%
Peru
5.0
%
China
4.6
%
Venezuela
4.0
%
Chile
3.2
%
Currency Allocation
US Dollar
100.4
%
Mexican Peso
0.9
%
Indian Rupee
0.9
%
China Offshore Renminbi
0.2
%
Singapore Dollar
-0.8
%
Brazilian Real
-1.6
%
Average Life (years)
8.7
Average Effective Duration (years)
6.5
Average Coupon (%)
5.9
Portfolio Statistics:
Inception Date
December 1, 2003
Inception Price
$
20.00
Total Assets***
$
606,521,226
Net Assets
$
504,067,627
Loans****
16.78
%
Preferred Shares****
0.00
%
Reverse Repos****
0.00
%
Market Price
$
13.73
NAV
$
16.37
(Daily NAV is available on market quotation systems using the
symbol XESDX.)
Distribution Rate*****
$0.1050 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. Negative allocations and allocations in
excess of 100%, if any, are primarily due to the Fund's
unsettled trade activity.
**
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.
****
Percentages are based on total assets. If the Fund employs
leverage, the Effective Duration is based on net assets.
*****
Pursuant to its managed distribution policy, the Fund intends to
make regular monthly distributions to shareholders of its
common stock at a fixed rate per common share, which may be
adjusted from time to time by the Fund's Board of Directors.
Under the Fund's managed distribution policy, if, for any
monthly distribution, the total of net investment income and net realized
capital gain is less than the amount of the distribution, the difference
will be distributed from the Fund's assets (and will constitute a "return
of capital"). The Board of Directors may modify, terminate or suspend
the managed distribution policy at any time, including when certain events
would make part of any return of capital taxable to shareholders. Any
such modification, termination or suspension could have an adverse effect
on the market price for the Fund's shares.
Western Asset Emerging Markets Debt Fund Inc., a non-diversified
closed-end investment management company traded on the New York Stock
Exchange under the symbol “ESD,” 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 involves
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.
FN1112202
View source version on businesswire.com: http://www.businesswire.com/news/home/20160129005153/en/
Western Asset Emerging Markets Debt Fund Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fund's primary investment objective is to seek high current income and its secondary objective is to seek capital appreciation. It invests primarily in United States (U.S.) dollar and non-U.S. dollar denominated debt securities of issuers in emerging market countries. Under normal market conditions, the Fund invests at least 80% of its managed assets in debt securities of issuers in emerging market countries. The Fund may invest up to 20% of its managed assets in non-debt securities and non-emerging market issuers, including equity securities. It may invest in securities denominated in currencies of emerging market countries. The Fund seeks to maintain an average portfolio duration between 20% above and 20% below the average duration of the JPMorgan Emerging Markets Bond Index Global Diversified. Its investment manager is Legg Mason Partners Fund Advisor, LLC.