By Legg Mason BW Global Income Opportunities Fund Inc. (NYSE: BWG) announces its portfolio composition as of December 31, 2012.
Investment Objective: To provide current income. As a secondary investment objective, the Fund will seek capital appreciation.
Investment Strategy: The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its assets in global fixed-income securities. These may include, but are not limited to, sovereign debt of developed and emerging market countries, U.S. and non-U.S. corporate debt, mortgage-backed securities and currency exposure. The Fund may manage its currency exposure through the use of futures, forwards and other derivative instruments, for hedging and investment purposes.
Portfolio Composition*: | ||||
Asset Allocation | ||||
| Government | 58.8 | % | ||
Non-US | 57.7 | % | ||
US | 1.1 | % | ||
Mortgage-Backed Securities | 16.3 | % | ||
Prime | 12.1 | % | ||
Alt-A | 4.2 | % | ||
Global Investment Grade Corporate Bonds | 13.1 | % | ||
US | 10.4 | % | ||
Non-US | 2.7 | % | ||
Global High Yield Corporate Bonds | 9.9 | % | ||
Non-US | 5.6 | % | ||
US | 4.3 | % | ||
Asset Backed Securities | 1.1 | % | ||
Cash & Other Securities | 0.8 | % | ||
Credit Quality Allocation** | ||||
| AAA | 0.7 | % | ||
| AA | 0.0 | % | ||
| A | 37.9 | % | ||
| BBB | 32.0 | % | ||
| BB | 12.4 | % | ||
| B | 7.8 | % | ||
| CCC | 8.0 | % | ||
| CC | 1.2 | % | ||
Top Five Countries | ||||
| United States | 33.8 | % | ||
| South Africa | 10.7 | % | ||
| Mexico | 10.5 | % | ||
| Brazil | 10.1 | % | ||
| Poland | 7.3 | % | ||
Currency of Issue | ||||
| US Dollars | 38.4 | % | ||
| Euro | 12.5 | % | ||
| South African Rand | 10.5 | % | ||
| Mexican Peso | 10.2 | % | ||
| Brazilian Real | 8.0 | % | ||
| Polish Zloty | 7.3 | % | ||
| Hungarian Forint | 6.6 | % | ||
| New Turkish Lira | 5.0 | % | ||
| British Pound Sterling | 1.3 | % | ||
| Swiss Franc | 0.2 | % | ||
Currency Exposure (includes currency hedging and investments) | ||||
| US Dollars | 24.8 | % | ||
| Mexican Peso | 12.5 | % | ||
| South African Rand | 12.3 | % | ||
| New Turkish Lira | 10.3 | % | ||
| Brazilian Real | 8.0 | % | ||
| Polish Zloty | 7.5 | % | ||
| Euro | 7.5 | % | ||
| Hungarian Forint | 6.6 | % | ||
| Chilean Peso | 4.0 | % | ||
| Indian Rupee | 3.7 | % | ||
| Russian Ruble | 2.0 | % | ||
| British Pound Sterling | 0.9 | % | ||
Effective Duration (years) | 9.21 | |||
Average Coupon (%) 8.97 | ||||
Portfolio Statistics: | ||||
Inception Date |
| March 28, 2012 | ||
Inception Price | $ | 20.00 | ||
Total Assets *** | $ | 603,818,973.8 | ||
Net Assets | $ | 459,758,148.3 | ||
Loans**** | 23.68 | % | ||
Preferred Shares**** | 0.00 | % | ||
Reverse Repos**** | 0.00 | % | ||
Market Price | $ | 20.26 | ||
NAV | $ | 21.81 | ||
(Daily NAV is available on market quotation systems using the symbol XBWGX.)
Distribution Rate | $0.1175 per share | ||||
Frequency | Monthly (Declared quarterly, paid monthly)***** | ||||
| * |
Portfolio holdings and weightings are historical and are presented
here for | |
| ** |
Credit quality is a measure of a bond issuer's ability to repay
interest and | |
| *** |
The difference between total assets and net assets, if any, is due
primarily to | |
| **** | Percentages based on total assets. |
***** Under the terms of the Fund's managed distribution policy,
the Fund will |
Legg Mason BW Global Income Opportunities Fund Inc., a non-diversified closed-end investment management company traded on the New York Stock Exchange under the symbol "BWG". The Fund is advised by Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc., and is sub-advised by Brandywine Global, Investment Management, LLC, an affiliate 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 various risks, including but not limited to, credit, inflation, income, prepayment and interest rates risks. As interest rates rise, the value of fixed income securities falls. High yield ("junk bonds") are subject to additional credit risk and a greater risk of default. International investments are subject to additional risks due to currency fluctuations, changes in interest rates and other factors. These risks are greater for emerging markets securities. The Fund's investments in mortgage-backed securities involve additional risks.
The Fund may invest in foreign currencies or currency derivatives which may increase the risk and volatility of the Fund. The Fund may invest in illiquid securities and securities/investments that have a leveraging effect on the portfolio which will increase the risks of the Fund. The Fund may make significant investments in derivative instruments.
Derivative instruments can be illiquid, may disproportionately increase losses and have a potentially large impact on Fund performance. Distributions are not guaranteed and are subject to change.
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 Services at 888-777-0102, or consult the Fund's web site at http://www.lmcef.com.
FN1212204
Media:
Legg Mason BW Global Income Opportunities Fund Inc.
Maria
Rosati, 1-212-805-6036
mrosati@leggmason.com
