Western Asset Emerging Markets Income Fund II Inc. (NYSE: EDF) announces
its portfolio composition as of September 30, 2008.
Investment Objective: The Fund seeks high current income. As a
secondary objective, the Fund seeks capital appreciation.
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Portfolio Composition*:
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Asset Allocation
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Emerging Markets
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93.0
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%
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Non-Investment Grade
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49.4
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%
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US Dollar
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36.9
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%
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Local Currency
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12.5
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%
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Investment Grade
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43.6
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%
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US Dollar
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34.8
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%
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Local Currency
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|
8.8
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%
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High Yield
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0.9
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%
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Investment Grade
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|
0.1
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%
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Cash & Other Securities
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|
6.0
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%
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Credit Quality Allocation
(Higher of S&P/Moody/Fitch)
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Aaa/AAA
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5.2%
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A/A
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17.2%
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Baa/BBB
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34.3%
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Ba/BB
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36.2%
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B/B
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5.0%
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Ca/CC
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0.7%
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D/D
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1.4%
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Top Ten Emerging Market Countries
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Russia
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22.6%
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Mexico
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13.3%
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Turkey
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9.2%
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Venezuela
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7.6%
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Egypt
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6.7%
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Brazil
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6.1%
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Panama
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4.8%
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Argentina
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4.7%
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Colombia
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3.9%
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Kazakhstan
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3.8%
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Currency Allocation
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US Dollar
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77.0%
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Russian Rubles
|
|
10.1%
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Egyptian Pounds
|
|
6.7%
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Euros
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|
2.7%
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Indonesian Rupiahs
|
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2.4%
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Brazilian Reals
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0.4%
|
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Malaysian Ringgit
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0.3%
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Turkish New Lira
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0.2%
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Argentine Pesos
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0.2%
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Average Life (years)
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11.0
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Effective Duration (years)
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5.3
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Average Credit Quality (S&P)
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|
BB+
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Portfolio Statistics:
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Inception Date
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June 25, 1993
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Inception Price
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$15.00
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Total Net Assets
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$310,309,249
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Market Price
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$9.17
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NAV
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$12.50
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(Daily NAV is available on market quotation systems using the symbol
XEDFX.)
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Distribution Rate**
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$0.2900 per share
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Frequency
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Quarterly
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Leverage***
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0.00%
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*
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Portfolio holdings and weightings are historical and are presented
here for informational purposes only. They are subject to change at
any time.
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**
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Pursuant to its managed distribution policy, the Fund intends to
make regular quarterly 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 quarterly 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 terminate the managed
distribution policy at any time, including when certain events would
make part of any return of capital taxable to shareholders. Any such
termination could have an adverse effect on the market price for the
Fund's shares.
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***
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The Fund may employ leverage in the form of loans, preferred stock,
reverse repurchase agreements and/or other instruments. If the Fund
establishes a segregated account in which it maintains cash and/or
liquid securities equal in value to its obligation in respect of the
reverse repurchase agreements (or other instruments), these
investments are not considered to be a borrowing or a "senior
security" for purposes of the asset coverage requirements under the
1940 Act, although they may have the same economic effect as other
types of leverage.
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Western Asset Emerging Markets Income Fund II Inc., a non-diversified
closed-end investment management company traded on the New York Stock
Exchange under the symbol “EDF,”
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 and Western Asset Management Company Limited,
affiliates of the adviser.
Past performance is no guarantee of future results. An investment in the
Fund involves risk, including loss of principal. Investment return and
the value of shares will fluctuate.
For more information, please call Fund Investor Services at
888-777-0102, or consult the Fund’s web site
at www.leggmason.com/cef.
Western Asset Emerging Markets Income Fund II Inc.
Fund Investor
Services, 888-777-0102
