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Western Asset Global Corporate Defined Opportunity Fund Inc.
Since the start of the drawdown, the CEF market has experienced a wave of distribution cuts driven by deleveraging and falls in asset prices. With most of the June distribution announcements in the bag, we take a look at how various sectors have fared since the end of the drawdown.
The main takeaway is that the previous trends have extended into June. Loan, MLP and equity funds have continued to cut distributions while municipal funds have continued to raise distributions.
Our recent sector and fund focus has taken advantage of these trends and remains on