Western Asset Investment Grade Income Fund (NYSE: PAI) is a diversified, closed-end management investment company that seeks to provide high current income, with an emphasis on the preservation of capital. The fund principally invests in a broad array of investment-grade fixed-income securities, including U.S. and foreign corporate bonds, U.S. Treasury and government agency obligations, mortgage-backed and asset-backed securities, and other structured credit instruments.
Under the investment oversight of Western Asset Management Company, LLC, the fund employs a research-driven approach to credit selection and sector allocation. Portfolio managers conduct in-depth fundamental analysis and monitor macroeconomic indicators to adjust duration, credit exposure, and regional weightings. The fund may also employ leverage within predefined limits to enhance income potential, while maintaining robust risk-management controls.
Established in the early 2000s, Western Asset Management has grown into one of the world’s largest fixed-income specialists, serving a global clientele that includes pension funds, insurance companies, and individual investors. The fund’s disciplined process combines top-down outlooks on interest rates and economic trends with bottom-up credit assessment, seeking opportunities across developed markets and select emerging economies.
Headquartered in Pasadena, California, Western Asset Management operates in over a dozen countries across North America, Europe, and Asia. The investment team is led by senior portfolio managers with decades of experience in fixed-income markets, bringing deep expertise in credit research, portfolio construction, and risk management to the fund’s ongoing pursuit of attractive risk-adjusted returns.
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