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Western Asset Investment Grade Income Fund Inc. - PAI STOCK NEWS

Welcome to our dedicated page for Western Asset Investment Grade Income Fund news (Ticker: PAI), a resource for investors and traders seeking the latest updates and insights on Western Asset Investment Grade Income Fund stock.

Western Asset Investment Grade Income Fund Inc. (PAI) is a closed-end diversified investment company meticulously designed for long-term investors. The primary goal of the fund is to achieve a high level of current income while maintaining prudent investment risks. This is achieved through a carefully diversified portfolio predominantly consisting of debt securities. These securities may include convertible or exchangeable securities, those with warrants to purchase common stock or other equity interests, and preferred stock.

Western Asset Investment Grade Income Fund Inc. is not intended as a trading vehicle but rather as a stable, long-term investment option.

The fund's management team focuses on leveraging extensive research and a disciplined investment approach to uncover opportunities that align with its investment objectives. By investing in a diversified mix of income-generating securities, the fund aims to provide its shareholders with attractive returns over time.

Following the merger of Legg Mason and Franklin Templeton, updates and insights regarding the fund are now accessible through the Franklin Templeton platform. This merger has brought together the strengths of both firms, providing enhanced resources and expertise to better serve investors.

For the latest news and updates about Western Asset Investment Grade Income Fund Inc., investors are encouraged to follow the Franklin Templeton company page.

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Western Asset Investment Grade Income Fund (NYSE: PAI) released its financial status as of March 31, 2024. Total net assets were $123.7 million, slightly down from $124.7 million in the previous quarter but up from $121.5 million last year. The NAV per share was $13.01, a decrease from $13.11 in Q4 2023 but an increase from $12.78 in Q1 2023. The market price per share was $12.19, reflecting a 6.30% discount to NAV.

The fund's total net investment income was $1.49 million, down from $1.59 million in the previous quarter, but higher than $1.46 million a year ago. Net realized/unrealized loss was $1.06 million compared to gains of $8.93 million last quarter and $1.95 million in Q1 2023. The net increase in net assets from operations was $431,965, a sharp drop from $10.52 million last quarter and $3.41 million last year.

Earnings per share were $0.05, down from $1.11 in Q4 2023 and $0.35 in Q1 2023. Undistributed net investment income per share was $0.11, compared to $0.10 last quarter and $0.07 in Q1 2023.

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Franklin Templeton Fund Adviser, has announced the distribution schedules for its closed-end funds for June, July, and August 2024. The Western Asset Investment Grade Income Fund (PAI) will distribute $0.05150 per share for each month, with an increase of $0.00250 from the previous distribution in June. The Western Asset Premier Bond Fund (WEA) will distribute $0.07000 per share monthly, with no changes from previous distributions. The record and ex-dividend dates are June 21, July 24, and August 23, 2024, with payable dates on July 1, August 1, and September 3, 2024, respectively. This announcement is informational and not for tax reporting purposes. Detailed tax information will be provided in early 2025 via Form 1099-DIV.

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Franklin Resources announces changes to the portfolio management team of the Fund. The new team includes Michael Buchanan, Daniel Alexander, Ryan Brist, Kurt Halvorson, Blanton Keh, and Molly Schwartz. The press release emphasizes that the data and commentary provided are for informational purposes only, and Franklin Resources and its affiliates do not sell shares of the Fund.
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Franklin Templeton Fund Adviser, LLC announces distribution schedule for certain closed-end funds for March, April, and May 2024. Shareholders will receive dividends on specific dates. PAI's Western Asset Investment Grade Income Fund and WEA's Western Asset Premier Bond Fund are included in the distribution.
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Western Asset Investment Grade Income Fund Inc. (PAI) announced its financial position as of September 30, 2023. Total net assets were $115,531,243, with NAV per share of common stock at $12.15 and market price per share at $11.25. The fund reported a 7.41% discount and total net investment income of $1,448,715.
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Legg Mason Partners Fund Advisor, LLC (ticker: PAI and WEA) has declared distributions for December 2023, January, and February 2024 for its closed end funds, including Western Asset Investment Grade Income Fund Inc. and Western Asset Premier Bond Fund. The distributions range from $0.04850 to $0.07000 per share. Shareholders will receive a Form 1099-DIV for tax reporting purposes in early 2024 and early 2025.
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Legg Mason Partners Fund Advisor, LLC announced distributions for October and November 2023. PAI's October income distribution increased by 0.0010 to $0.04750, while WEA's October income distribution increased by 0.0040 to $0.07000. Share price may fluctuate with market conditions.
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FAQ

What is Western Asset Investment Grade Income Fund Inc. (PAI)?

Western Asset Investment Grade Income Fund Inc. is a closed-end diversified investment company aimed at providing a high level of current income through a portfolio of debt securities.

What type of securities does PAI invest in?

PAI's portfolio includes debt securities, which may be convertible or exchangeable, carry warrants to purchase common stock, or be preferred stock.

Is PAI designed for short-term trading?

No, PAI is designed as a long-term investment rather than a trading vehicle.

What is the primary objective of PAI?

The primary objective of PAI is to provide a high level of current income while maintaining prudent investment risk.

Where can investors get updates about PAI?

After the merger of Legg Mason and Franklin Templeton, updates can be found on the Franklin Templeton company page.

How does PAI manage investment risks?

PAI manages risks through a diversified portfolio and a disciplined investment approach based on extensive research.

Has there been any recent merger affecting PAI?

Yes, Legg Mason and Franklin Templeton have merged, and updates about PAI are now provided by Franklin Templeton.

Does PAI include equity interests in its portfolio?

Yes, PAI may include securities that are convertible into, exchangeable for, or carry warrants to purchase common stock or other equity interests.

What benefits does the Franklin Templeton merger bring to PAI investors?

The merger brings enhanced resources, expertise, and comprehensive updates through the Franklin Templeton platform.

What is the long-term outlook for PAI?

PAI aims to provide attractive returns over time through its diversified income-generating portfolio, managed with a disciplined approach.

Western Asset Investment Grade Income Fund Inc.

NYSE:PAI

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