NEW YORK--(BUSINESS WIRE)-- Managed High Yield Plus Fund Inc. (the "Fund") (NYSE:HYF), a closed-end management investment company, today announced that the Fund’s Board of Directors has declared a dividend from net investment income of $0.0150 per share. The dividend is payable on October 31, 2012 to shareholders of record as of October 18, 2012. The ex-dividend date is October 16, 2012.
Managed High Yield Plus Fund Inc. seeks high income and, secondarily, capital appreciation, primarily through investments in lower-rated, income producing debt and related equity securities.
|Portfolio statistics as of September 30, 20121|
|Top ten corporate bonds,||Percentage of total portfolio assets|
|SquareTwo Financial Corp., 11.625%, 4/1/2017||1.3%|
|Ryerson Inc., 12.000%, 11/1/2015||1.2%|
|INTL Lease Financial Corp., 7.125%, 9/1/2018||1.2%|
|NRG Energy Inc, 8.500%, 6/15/2019||1.2%|
|Ally Financial Inc. 8.000%, 3/15/2020||1.1%|
|Ford Motor Credit Co LLC, 12.000%, 5/15/2015||1.1%|
|Bank of America Corp., 5.650%, 5/1/2018||1.0%|
|MGM Resorts Intl, 10.000%, 11/1/2016||1.0%|
|Sunguard Data Systems Inc, 10.250%, 8/15/2015||0.9%|
|Nova Chemicals Corp., 8.625%, 11/1/2019||0.8%|
|Top five industries||Percentage of total portfolio assets|
|Energy - exploration & production||7.7%|
|Telecom - integrated/services||5.8%|
|Credit quality2||Percentage of total portfolio assets|
|Ba/BB and higher||35.1%|
|Caa/CCC and lower||17.3%|
|Net asset value per share3||$2.20|
|Market price per share3||$2.21|
|Weighted average life||4.62 yrs|
|Weighted average modified duration4||3.60 yrs|
|Weighted average coupon5||7.79%|
including coupon and maturity
1 The Fund is actively managed, and its portfolio composition will vary over time.
2 Credit quality ratings are from Moody’s, unless that rating is unavailable. If so, the default credit quality rating will be from Standard & Poor's; if that is unavailable, an internal rating from UBS Global AM will be used if assigned. Standard & Poor's ("S&P") is a division of The McGraw-Hill Companies, Inc.
3 Net asset value (NAV), market price and yields will fluctuate. NAV yield is calculated by multiplying the current month’s dividend by 12 and dividing by the month-end net asset value. Market yield is calculated by multiplying the current month’s dividend by 12 and dividing by the month-end market price.
4 Modified duration is the change in the price of a security, expressed in years, expected in response to each 1% change in the yield to maturity of the portfolio's holdings.
5 Weighted by par.
6 As a percentage of adjusted net assets. Adjusted net assets equals total assets minus total liabilities, excluding liabilities for borrowed money.
UBS Global Asset Management
Closed-End Funds Desk: 888-793-8637
Source: Managed High Yield Plus Fund Inc.