Western Asset High Income Fund II Inc. — Cyborg Score 6/10
Solid
Asset Management
Strategic Profile
The fund invests in the fixed income markets across the globe, focusing on high yield debt securities issued by U.S., foreign corporations and foreign governments. Franklin Templeton Fund Adviser, LLC serves as investment adviser and administrator, while Western Asset Management Company entities function as subadvisers, all indirect wholly owned subsidiaries of Franklin Resources, Inc. As of January 27, 2026, the portfolio management team includes Michael Buchanan, Walter Kilcullen, Christopher Kilpatrick, John Hwang and Ryan Kohan.
Cyborg Score Rationale
In fiscal year 2025, HIX's revenue increased 18.42% to $51.42 million with earnings rising 10.05% to $32.25 million. The fund maintains operational stability with strong asset backing, though closed-end fund dynamics expose it to market sentiment and discount/premium trading volatility.
Top Insights
Total assets stood at $595.19 million with net assets of $392.49 million
Fund was formed on May 28, 1998, providing 27+ years of operational history and market experience
The fund maintains a practice of seeking stable distributions to shareholders, which may reduce NAV but supports market price competitiveness and premium/discount maintenance
The fund employs a combination of quantitative and fundamental analysis with bottom-up security selection process
Named Competitors
Neuberger Berman High Yield Strategies Fund — Closed-end high yield bond fund
PIMCO Strategic Income Fund — Active fixed income strategy
Western Asset Global High Income Fund — Related Western Asset closed-end fund variant
Recent Developments
(January 2026) Portfolio management team update with Michael Buchanan, Walter Kilcullen, Christopher Kilpatrick, John Hwang and Ryan Kohan assuming day-to-day oversight responsibilities
(Fiscal Year 2025) Revenue increased 18.42% to $51.42 million with earnings up 10.05% to $32.25 million
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