Written by Nick Ackerman, co-produced by Stanford Chemist
Western Asset High Yield Defined Opportunity Fund (HYI) is a non-leveraged high-yield bond fund. It has been providing investors with an attractive level of income while providing less volatility on an NAV basis. The fund also has a limited term and will liquidate around September 30th, 2025. Western Asset is a subsidiary of Legg Mason, and Legg Mason was recently acquired by Franklin Templeton. For shareholders, not much has changed as Western Asset will continue to operate as a subsidiary at this time. HYI