WEA Western Asset Premier Bond Fund

Western Asset Premier Bond Fund (NYSE:WEA) announces its portfolio composition as of June 30, 2009.

Investment Objective: The Fund's investment objective is to provide current income and capital appreciation by investing primarily in a diversified portfolio of investment grade bonds.

   

Portfolio Composition*:

 

Asset Allocation

Investment Grade

34.0%

Mortgage Backed

24.7%

High Yield

23.3%

Asset Backed

11.7%

Cash & Other Securities

6.3%

 

Credit Quality Allocation (Higher of S&P/Moody/Fitch)

 

Aaa/AAA 27.7% Aa/AA 4.6% A/A 9.7% Baa/BBB 26.7% Ba/BB 10.7% B/B 9.8% Caa/CCC 9.4% Ca/CC 0.4% C/C 0.7% D/D 0.3%  

Top Ten Investment Grade Industries

Transportation 6.5% Consumer Cyclical 4.7% Energy 4.4% Electric 3.9% Capital Goods 3.4% Banking 2.6% Basic Industry 2.2% Communications 2.2% Finance Companies 1.4% Natural Gas 1.3%  

Top Ten High Yield Industries

Consumer Cyclical 5.6% Communications 4.3% Electric 2.6% Energy 2.0% Consumer Non Cyclical 1.9% Capital Goods 1.8% Natural Gas 1.4% Basic Industry 1.4% Technology 0.9% Transportation 0.8%  

Average Life (years)

6.7

Effective Duration (years)

2.3

Average Credit Quality (S&P)

A    

Portfolio Statistics:

  Inception Date March 28, 2002 Inception Price $15.00 Total Net Assets $117,007,447 Market Price $11.45 NAV $10.13

(Daily NAV is available on market quotation systems using the symbol XWEAX.)

Distribution Rate             $0.1000 per share Frequency Monthly (declared monthly, paid monthly) Leverage** 38.09% *   Portfolio holdings and weightings are historical and are presented here for informational purposes only and do not include derivatives such as Futures Contracts, Options Written, and Credit Default Swaps. They are subject to change at any time.   ** The Fund may employ leverage in the form of loans, preferred stock, reverse repurchase agreements and/or other instruments. If the Fund establishes a segregated account in which it maintains cash and/or liquid securities equal in value to its obligation in respect of the reverse repurchase agreements (or other instruments), these investments are not considered to be a borrowing or a "senior security" for purposes of the asset coverage requirements under the 1940 Act, although they may have the same economic effect as other types of leverage.

Dividends and distributions represent past performance. Past performance is no guarantee of future results and there is no guarantee that dividends and distributions will continue.

Western Asset Premier Bond Fund, a diversified closed-end investment management company, is advised by Western Asset Management Company, a wholly owned subsidiary of Legg Mason, Inc. and is sub-advised by Western Asset Management Company Limited, Western Asset Management Company Pte. Ltd., and Western Asset Management Company Ltd, affiliates of the adviser.

Past performance is no guarantee of future results. An investment in the Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate.

For more information, please call Fund Investor Relations at 888-777-0102 or consult the Fund’s web site at www.leggmason.com/cef.

Western Asset Management Company and Legg Mason Investor Services, LLC are subsidiaries of Legg Mason, Inc.

© 2009 Legg Mason Investor Services, LLC. Member FINRA, SIPC