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Pacific American Income Shares, Inc.

Company Description

Western Asset Income Fund (the Fund), formerly Pacific American Income Shares, Inc., is a closed-end diversified investment company. The Fund seeks a high level of current income, consistent with prudent investment risk, through investment in a diversified portfolio of debt securities. The Fund’s secondary investment objective is capital appreciation. The Fund invests at least 75% in debt securities rated within the four highest grades, and in government securities, bank debt, commercial paper, cash or cash equivalents; up to 25% in other fixed income securities, convertible bonds, convertible preferred and preferred stock, and not more than 25% in securities restricted as to resale. The Fund may also invest in privately placed debt securities and in certain equity securities. It invests in various sectors such as financials, energy, consumer discretionary, telecommunication services and materials. The Fund’s investment advisors are Western Asset Management Company and Western Asset Management Company Limited. [Source: GoogleFinance]

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