Description

The Western Asset High Income Opportunity Fund Inc. (HIO) operates as a closed-end investment vehicle focused on fixed-income securities. Established and overseen by Legg Mason Partners Fund Advisor, LLC, its day-to-day management responsibilities are shared between Western Asset Management Company and Western Asset Management Company Limited. HIO's investment strategy centers on the U.S. fixed-income markets, specifically targeting high-yielding corporate debt instruments. The fund endeavors to maintain a portfolio with an average duration of approximately four years and an average credit rating of B. Its performance is benchmarked against the Barclays Capital U.S. Corporate High Yield 2% Issuer Cap Index. This U.S.-domiciled fund, originally known as the High Income Opportunity Fund, commenced operations on November 16, 1993.