Western Asset High Yield Defined Opportunity Fund Inc.
HYI
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Kenneth Donald Fuller
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- One Madison Avenue New York City NY United States of America 10017
- IPO Date
- Oct 27, 2010
- CIK
- 0001497186
- Similar Companies
- Business
- Western Asset High Yield Defined Opportunity Fund Inc. (NYSE: HYI) operates as a diversified, closed-end management investment company focused on delivering a high level of current income to shareholders with a secondary objective of capital appreciation. The fund invests, under normal market conditions, at least 80% of its managed assets in below-investment-grade fixed-income securities, including high-yield corporate debt, convertible bonds, unrated debt securities of comparable quality, and other credit instruments issued by U.S. and foreign public or private corporations and business entities; it may allocate up to 20% of net assets to investment-grade fixed-income securities issued by U.S. or foreign governments, agencies, or instrumentalities. Portfolio allocations span sectors such as Consumer Cyclical, Communications, Energy, Finance, Technology, Transportation, Basic Industry, Capital Goods, Consumer Non-Cyclical, and emerging market governments, with geographic exposure primarily to the United States, United Kingdom, Canada, and other regions. Western Asset Management Company, LLC, a Franklin Templeton affiliate with over 50 years of fixed-income expertise, serves as subadviser alongside Franklin Templeton Fund Adviser, LLC as investment manager, employing a research-driven, value-oriented approach with team management, bottom-up credit analysis, and risk controls; the fund may utilize leverage through borrowings, preferred stock, or other instruments and hedge interest rate or currency risks. Founded on July 20, 2010, and headquartered at One Madison Avenue, 17th Floor, New York, NY 10010, the fund targets institutional and retail investors seeking high-yield opportunities in global fixed-income markets. In a significant strategic shift in July 2025, the fund completed a tender offer, repurchasing approximately 43% of its outstanding shares at net asset value ($12.09 per share), reducing net assets to about $155-272 million, eliminating its prior September 30, 2025 termination date, and transitioning to operation as a perpetual fund. To support ongoing operations, the investment manager agreed to waive 20 basis points of its annual management fee for one year through June 6, 2026. These changes followed a special stockholder meeting and reflect efforts to enhance liquidity, optimize the expense ratio, and capitalize on market dislocations in high-yield securities amid favorable credit conditions.