LMP Capital and Income Fund Inc. as of June 30, 2011
26 7월 2011 - 9:30PM
Business Wire
LMP Capital and Income Fund Inc. (NYSE: SCD) announces its
portfolio composition as of June 30, 2011.
Investment Objective: The Fund’s Investment objective is
total return with an emphasis on income.
Portfolio Composition1:
Asset
Allocation
Equities
75.5%
Investment Grade Corporate
Bonds
7.5%
High Yield Corporate Bonds
3.9%
Mortgage-Backed Securities
0.8%
Cash & Other Securities
12.3%
Equity Sector
Allocation2
Financials 31.2% Telecommunication Services 19.1% Utilities 9.7%
Energy 6.2% Other 3.8% Health Care 3.4% Industrials 2.0% Consumer
Staples 1.1%
Top Ten Equity
Holdings2
Total SA 3.9% Vodafone Group PLC 3.8% France Telecom 3.4% AT&T
Inc. 3.3% Chimera Investment Corp. 3.2% Annaly Capital Management
Inc. 3.2% First Niagara Financial Group Inc. 3.1% Integrys Energy
Group Inc. 3.1% New York Community Bancorp Inc. 2.9% NextEra Energy
Inc. 2.8%
Fixed Income
Credit Quality Allocation3, 4
AAA 12.4% AA 4.8% A 4.0% BBB 2.2% BB 0.9% B 17.4% CCC 5.7% CC 5.9%
D 5.4% NR 41.0%
Fixed Income –
Statistics4
Average Life (years)
1.9
Effective Duration (years)
0.6
Average Coupon (%)
1.8
Portfolio
Statistics:
Inception Date
February 24, 2004
Inception Price
$20.00
Total Assets5
$455,470,053
Net Assets
$305,075,572
Loans6
0.00%
Preferred Shares6
0.00%
Reverse Repos6
0.00%
Market Price
$13.72
NAV
$14.43 (Daily NAV is available on market quotation systems using
the symbol XSCDX.)
Distribution Rate7
$0.28 per share
Frequency
Quarterly
The Fund conducted a tender offer for up to 30% of the shares
outstanding. The fully-subscribed tender offer expired on June 30,
2011.
1 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% are primarily due to the Fund's unsettled trade
activity.
2 Percentage based on the total portfolio.
3 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. For this purpose, if two or more of the agencies have
assigned differing ratings to a security, the highest 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.
4 Percentage based on the portion of the portfolio managed by
Western Asset.
5 The difference between total assets and net assets, if any, is
due primarily to the tender offer that expired on June 30, 2011,
and 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.
6 As of 7/19/11, the percentage of loans, preferred shares and
reverse repos were 21.59%, 0.00%, and 0.00%, respectively.
Percentage based on the total portfolio. The Fund had eliminated
its leverage as of June 30, but has since re-levered the Fund.
7 On May 20, 2011, the Fund declared a new managed distribution
rate of $0.28 per share payable in September 2011. This
distribution is record date 9/23/11 and payable 9/30/11. 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 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.
LMP Capital and Income Fund Inc., a non-diversified closed-end
investment management company traded on the New York Stock Exchange
under the symbol “SCD,” is advised by Legg Mason Partners Fund
Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc. and is
sub-advised by ClearBridge Advisors, LLC and Western Asset
Management Company, affiliates 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.
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 Relations at
888-777-0102, or consult the Fund’s web site at
www.leggmason.com/cef.
FN1011962
LMP Capital and Income (NYSE:SCD)
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LMP Capital and Income (NYSE:SCD)
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