Western Asset Variable Rate Strategic Fund Inc. as of September 30, 2006.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Western Asset Variable Rate Strategic Fund Inc. (NYSE NYSE See: New York Stock Exchange :GFY GFY Good For You GFY Government Fiscal Year GFY Go Find Yourself (polite form) GFY Graphitic Filament Yarn ) announces its portfolio composition as of September September: see month. 30, 2006. Investment Objective: The Fund's investment objective is to maintain a high level of current income.
Portfolio Composition*
Asset Allocations:
High Yield 24.71%
Mortgages 40.25%
CMO 19.06%
Mortgage TBAs 21.18%
Emerging Market Debt 8.15%
Non-Investment Grade 5.45%
Investment Grade 2.70%
Cash & Other Securities 26.90%
High Yield Allocation:
United States 24.31%
Ireland 0.15%
Luxembourg 0.08%
Germany 0.05%
United Kingdom 0.05%
Canada 0.04%
France 0.03%
South Korea 0.01%
Top Five Industries:
Consumer Cyclical 10.81%
Communications 6.23%
Basic Industry 2.97%
Consumer Non Cyclical 2.23%
Capital Goods 1.86%
Top Ten Emerging Markets:
Mexico 3.69%
Russia 2.29%
Turkey 1.28%
Brazil 1.16%
Peru 1.07%
Colombia 0.98%
Venezuela 0.95%
Philippines 0.93%
Argentina 0.77%
Panama 0.72%
Average Credit Quality (S&P) A
Average Life (years) 6.38
Effective Duration (years) 0.96
(1)When the Fund establishes a segregated account in which it maintains cash and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. liquid securities equal in value to its obligations in respect of the mortgage dollar rolls, the mortgage dollar rolls will not be considered a borrowing or a "senior security" for purposes of the asset coverage requirements under the 1940 Act. *Portfolio holdings and weightings are historical and for informational purposes only. They are subject to change at any time. Inception Date: October 26, 2004 Inception Price: $20.00 Total Net Assets: $163.787 million Reverse Repurchase Agreements**: 0% **Due to the Fund having a segregated account in which it maintains cash and/or liquid securities equal in value to its obligations in respect of the reverse repurchase agreements Reverse Repurchase Agreement The purchase of securities with the agreement to sell them at a higher price at a specific future date. For the party selling the security (and agreeing to repurchase it in the future) it is a repo for the party on the other end of the , these agreements are not considered to be leverage 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. Market Price: $17.36 NAV: $19.68 (Daily NAV is available on market quotation systems using the symbol XGFYX.) Dividend Rate: $0.0975 Frequency: Monthly Western Asset Variable Rate Strategic Fund Inc., a non-diversified closed-end investment Closed-End Investment When an investment company issues a fixed number of shares in an actively managed portfolio of securities. The shares are traded in the market just like common stock. Notes: Most mutual funds are open-end funds, not closed-end. management company traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "GFY," is advised by Legg Mason Founded in 1899, Legg Mason, Inc. (NYSE: LM) is a leading Global Asset Management Firm that serves the institutional, mutual fund and wealth management markets. The firm is headquartered in Baltimore, Maryland, and is located on Lombard and Charles Streets in the Legg Mason Partners Fund Advisor, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Legg Mason, Inc. and is sub-advised by Western Asset Management Company and Western Asset Management Ltd., affiliates of the adviser. For more information, call 1-888-777-0102, or consult the Fund's web site at www.leggmason.com/InvestorServices. |
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