IGI Western Asset Investment Grade Defined Opportunity Trust Inc

Western Asset Investment Grade Defined Opportunity Trust Inc. (NYSE: IGI) announces its portfolio composition as of June 30, 2010.

Investment Objectives: The Fund's primary investment objective is to provide current income for its shareholders and then to liquidate and distribute substantially all of the Fund’s net assets to stockholders on or about December 2, 2024. Capital appreciation is a secondary investment objective.

Investment Strategy: The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its net assets in investment grade corporate fixed income securities of varying maturities.

Portfolio Composition*:

Asset Allocation

 

Investment Grade Corporate Bonds

82.8%

High Yield Corporate Bonds

16.0%

Cash & Other Securities

1.2%

 

Credit Quality Allocation1

AAA 1.8% AA 14.0% A 32.0% BBB 36.1% BB 9.9% B 6.1%

The investment manager has assigned its own ratings to securities not rated by S&P, Moody's or Fitch. Of the credit quality allocation totals above, Western Asset has rated 1.1% of the portfolio as equivalent to AAA.

Top Ten Investment Grade Industries

  Banking 22.1% Communications 15.8% Consumer Non Cyclical 8.2% Energy 7.1% Insurance 5.5% Electric 5.1% Basic Industry 4.2% Natural Gas 3.1% Finance Companies 3.0% Transportation 2.9%  

Top Five High Yield Industries

Bank Loans 4.1% Basic Industry 2.5% Communications 2.2% Consumer Non Cyclical 1.8% Consumer Cyclical 1.7%  

Average Life (years)

10.67

Effective Duration (years)

6.32

Average Coupon (%)

7.04  

Portfolio Statistics:

 

Inception Date

June 26, 2009

Inception Price

$20.00

Total Assets

$221,196,462

Loans

0.0%

Preferred Shares

0.0%

Reverse Repos

0.0%  

Market Price

$20.90

NAV

$20.85 (Daily NAV is available on market quotation systems using the symbol XIGIX.)  

Distribution Amount

$0.1045 per share

Frequency

Monthly (declared monthly, paid monthly)

* Portfolio holdings and weightings are historical and are presented here for informational purposes only. They are subject to change at any time.

Western Asset Investment Grade Defined Opportunity Trust Inc., a non-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.

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. The credit quality ratings shown may change over time. The data contained in this release is provided for informational purposes only. The shares of the Fund trade on the NYSE and are not sold by Legg Mason Partners Fund Advisor, LLC or any of its affiliates.

For more information, please call Fund Investor Relations at 888-777-0102 or consult the Fund’s web site at www.leggmason.com/cef.

1 Credit quality is a measure of a bond issuer's ability to repay interest and a principal in a timely manner. The credit ratings shown are based on each portfolio security's rating as provided by the following Nationally Recognized Statistical Rating Organizations ("NRSRO"): Standard and Poor's ("S&P"), Moody's Investors Service ("Moody's"), Fitch Ratings, Ltd. In the case where a security is not rated by an NRSRO the rating is determined by Western Asset Management ("WAM"), the fund's investment manager (and not an NRSRO). For this purpose, if two or more of the other NRSROs have assigned a rating to a security, the highest rating is used. If a security is not rated by a NRSRO, WAM will analyze comparable securities with similar characteristics (size, capital structure, industry sector, risks, etc.) and assign its own rating using denominations similar to those of S&P. Unrated securities assigned a rating by WAM are specified separately in the credit quality breakdown being shown. A negative allocation may be apparent, which is primarily due to the Fund's unsettled trade activity. Currency forwards and futures are not rated by a NRSRO or WAM and are listed as "Non Rated". 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 by WAM monthly and may change over time. Please note, WAM is not a NRSRO nor has the Fund itself been rated by a NRSRO.

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