Western Asset Diversified Income Fund Conference Call Replay Now Available

Rhea-AI Summary

The Western Asset Diversified Income Fund (NYSE: WDI) announced that the recording of its conference call held on August 18 is now available. This call was significant as it marked the Fund's first since its shares began trading on the NYSE on June 25, 2021. The Fund aims to provide high current income and capital appreciation through diversified investments in fixed-income securities, including corporate debt and mortgages. The Fund plans to initially focus on shorter-duration and floating-rate securities to mitigate interest rate risks.

Positive

• Fund aims for high current income and capital appreciation.
• Strategic focus on shorter-duration and floating-rate securities reduces interest rate sensitivity.
• Utilizes a comprehensive investment approach combining top-down macro views and bottom-up analysis.

Negative

• The Fund has a limited operational history as a newly organized entity.
• Subject to high volatility and potential losses connected to high yield bonds and market conditions.

SAN MATEO, Calif.--(BUSINESS WIRE)-- The Western Asset Diversified Income Fund (NYSE: WDI) conference call recording from August 18 is now available. The speakers on the call were Michael Buchanan, Deputy Chief Investment Officer, and Chris Kilpatrick, Portfolio Manager, both from Western Asset Management. This was the first conference call since the Fund’s common shares began trading on the New York Stock Exchange on June 25, 2021.

The call replay details are as follows:

• Dial-in: 800-585-8367
• Conference ID: 5029008

The replay will be available until October 2, 2021.

The Fund recently published a portfolio positioning commentary, which is available here.

The Fund is a diversified, closed-end fund seeking high current income and, secondarily, capital appreciation.

Western Asset’s investment process utilizes cross-sector correlations designed to seek optimized return potential and diversification within the portfolio. As active managers of the portfolio, Western Asset will employ its top-down macro view to drive decisions on value, credit sectors, credit quality and duration, and its deep research experience and bottom-up analysis to make sector and security selections.

Under current market conditions, the Fund anticipates it will initially focus on shorter-duration and floating-rate securities, which have traditionally exhibited lower sensitivity to higher interest rates. Its duration and mix of fixed- and floating-rate investments are subject to change over time. As market conditions change, Western Asset will seek to dynamically rotate investments into sectors and securities that it believes to be undervalued from a fundamental perspective with an attractive return profile and away from investments that it believes to be overvalued.

The Fund may invest in both investment-grade and below-investment-grade corporate debt securities, senior loans, agency and non-agency residential mortgage-backed securities and commercial mortgage-backed securities, government (i.e., sovereign) debt (including U.S. government obligations), floating-rate securities, bank loans, collateralized loan obligations, asset-backed securities, private debt and mortgage whole loans.

About Western Asset

Western Asset is one of the world’s leading fixed-income managers. With a focus on long-term fundamental value investing that employs a top-down and bottom-up approach, the Firm has nine offices around the globe and deep experience across the range of fixed-income sectors. Founded in 1971, Western Asset has been recognized for an approach emphasizing team management and intensive proprietary research, supported by robust risk management. To learn more about Western Asset, please visit www.westernasset.com.

About Franklin Templeton

Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company brings extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 70 years of investment experience and over $1.5 trillion in assets under management as of July 31, 2021. For more information, please visit franklintempleton.com and follow us on LinkedIn, Twitter and Facebook.

Risks

The Fund is newly organized, with a limited history of operations. Fixed-income securities involve interest rate, credit, inflation, and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed-income securities falls. High yield bonds are subject to greater price volatility, illiquidity, and possibility of default. Asset-backed, mortgage-backed or mortgage-related securities are subject to prepayment and extension risks. The Fund may invest in securities backed by subprime mortgages that involve a higher degree of risk and chance of loss. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. Derivatives, such as options and futures, can be illiquid, may disproportionately increase losses, and have a potentially large impact on Fund performance. Leverage may increase volatility and possibility of loss. Shares of closed-end funds frequently trade at a discount to their net asset value. The Fund is primarily a long-term investment vehicle and should not be used for short-term trading. Diversification does not guarantee a profit or protect against a loss. Information regarding the distribution rate is included for informational purposes only and is not necessarily indicative of future results, the achievement of which cannot be assured. The distribution rate should not be considered the yield or total return on an investment in the Fund. Distributions are not guaranteed and are subject to change.

The closed-end funds are not sold or distributed by Franklin Distributors, LLC or any of Franklin Templeton affiliate. Unlike open-end funds, shares are not continually offered. Like other public companies, closed-end funds have a onetime initial public offering, and once their shares are first issued, they are generally bought and sold through non-affiliated broker/dealers and trade on nationally recognized stock exchanges. Share prices will fluctuate with market conditions and, at the time of sale, may be worth more or less than your original investment. Shares of exchange-traded closed-end funds may trade at a discount or premium to their original offering price, and they often trade at a discount to their net asset value. Net asset value (NAV) is total assets less total liabilities divided by the number of shares outstanding. Market price, which is determined by supply and demand, is the price at which an investor purchases or sells a fund. Investment return, market price and net asset value will fluctuate with changes in market conditions. The funds are subject to investment risks, including the possible loss of principal invested.

For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s web site at www.lmcef.com.

Franklin Distributors, LLC and Western Asset are Franklin Templeton affiliated companies.

© 2021 Franklin Distributors, LLC. Member FINRA/SIPC.

Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Fund. This press release is not intended to, and does not constitute, an offer to purchase or sell shares of the Fund.

Category: Fund Announcement

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

View source version on businesswire.com: https://www.businesswire.com/news/home/20210830005230/en/

Media: Lisa Tibbitts 1-917-674-8060

Source: Franklin Resources, Inc. and Legg Mason Closed End Funds

FAQ

What is the purpose of the Western Asset Diversified Income Fund (WDI)?

The Fund seeks high current income and capital appreciation through diversified fixed-income investments.

When did the WDI fund begin trading on the NYSE?

The Western Asset Diversified Income Fund began trading on the NYSE on June 25, 2021.

What was discussed in the August 18 conference call for WDI?

The call covered the Fund's investment strategies and market outlook, marking its first post-IPO discussion.

What investment strategy does WDI employ?

WDI utilizes a strategy focusing on cross-sector correlations for optimized returns and diversification.

What are the risks associated with investing in WDI?

Investing in WDI includes risks like interest rate fluctuations, credit volatility, and potential loss of principal.