Western Asset Investment Grade Income Fund Inc.

Frequently Asked Questions About PAI

What does PAI invest in?

The Western Asset Investment Grade Income Fund Inc. (PAI) functions as a closed-end mutual fund, concentrating its investments in fixed-income securities. Its oversight is primarily provided by Western Asset Management Company, with Western Asset Management Company Limited acting as a co-manager. The fund strategically allocates capital mainly within the debt markets of the United States. Its holdings are predominantly composed of investment-grade debt, which includes government bonds, bank-issued obligations, commercial paper, and highly liquid assets like cash. To evaluate its effectiveness, the fund's performance is benchmarked against both the Barclays U.S. Corporate High Yield Index and the Barclays U.S. Credit Index. This fund was founded in the U.S. on March 22, 1973.

What is the expense ratio of PAI?

Western Asset Investment Grade Income Fund Inc. (PAI) charges an expense ratio of 0.77%. This is the annual fee deducted from fund assets to cover management and operations.

What is PAI's dividend yield?

PAI's trailing-twelve-month yield is 5.53%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of PAI?

Effective duration measures PAI's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. PAI's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of PAI?

PAI's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of PAI?

Yield to maturity (YTM) is the total return you'd earn from PAI if every bond in the portfolio is held to maturity at the current price. PAI's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.