Western Asset High Income Fund II Inc. Overview
Pro stress-test →Western Asset High Income Fund II Inc. is a closed-ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The Fund's primary investment objective is to maximize current income by investing at least 80% of its net assets, plus any borrowings for investment purposes, in high-yield debt securities. The fund targets income-focused investors seeking regular distributions from global fixed income markets.
Strategic Profile
Pro stress-test →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.
Competitive Landscape
Pro stress-test →HIX competes in the closed-end bond fund sector against similar income-focused vehicles managed by Neuberger Berman, PIMCO, and other fixed income specialists. The fund benchmarks against the Barclays Capital U.S. Corporate High Yield 2% Issuer Cap Index and JPMorgan Emerging Markets Bond Index Global, positioning it as a diversified high-yield and emerging market debt play.
Industry Context
Western Asset High Income Fund II Inc. operates in Closed-end fixed income mutual funds.
Key facts
Founded: 1998 · Headquarters: New York, US · Revenue: $51.42M (FY2025) · Market cap: ~$392M (net assets)