Western Asset Corporate Fund may invest up to 5% of assets in CLOs

By Sarah Lizee

Olympia, Wash., Nov. 15 – Western Asset Corporate Loan Fund Inc. said that it may invest up to 5% of its total assets in collateralized loan obligations, both in debt and equity tranches.

The fund’s investment objective and investment strategy, investing under normal market conditions at least 80% of its total assets in collateralized senior loans, have not changed, according to a press release.

Western Asset Management Co., LLC, the fund’s investment sub-adviser, said it “believes the opportunity to invest in CLO debt and equity tranches may provide compelling investment opportunities.”

Western Asset Corporate is a New York-based non-diversified, closed-end management investment company managed by Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc.

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