Western Asset Investment Grade Defined Opportunity Trust
IGI
20 hedge funds and large institutions have $47.7M invested in Western Asset Investment Grade Defined Opportunity Trust in 2014 Q1 according to their latest regulatory filings, with 3 funds opening new positions, 9 increasing their positions, 5 reducing their positions, and 4 closing their positions.
80% more repeat investments, than reductions
Existing positions increased: 9 | Existing positions reduced: 5
16% more capital invested
Capital invested by funds: $41M → $47.7M (+$6.7M)
3.09% more ownership
Funds ownership: 18.88% → 21.97% (+3.1%)
5% less funds holding
Funds holding: 21 → 20 (-1)
25% less first-time investments, than exits
New positions opened: 3 | Existing positions closed: 4
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$6.94M |
| 2 |
U
UBS
Zurich,
Switzerland
|
+$1.64M |
| 3 |
First Manhattan
New York
|
+$696K |
| 4 |
Commonwealth Equity Services
Waltham,
Massachusetts
|
+$214K |
| 5 |
SG Americas Securities
New York
|
+$179K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
-$1.33M |
| 2 |
VKH
Virtu KCG Holdings
New York
|
-$1.06M |
| 3 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$588K |
| 4 |
Goldman Sachs
New York
|
-$221K |
| 5 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
-$215K |
IGI Hedge Fund Activity: Q1 2014 in Review
20 of the 3,475 institutional investors tracked by Wall St. Rank reported a position in Western Asset Investment Grade Defined Opportunity Trust (IGI) for Q1 2014, worth a combined $47.7M — up 16% from $41M a quarter earlier.
Sellers outnumbered buyers: 4 funds closed out of IGI and 3 opened new positions — a net loss of 1 holder — while 5 trimmed existing stakes and 9 added.
The largest buyer was Sit Investment Associates, opening a new position worth an estimated $6.94M. The largest seller was Saba Capital Management, cutting an estimated $1.33M.
- 20 institutional investors held Western Asset Investment Grade Defined Opportunity Trust (IGI) as of Q1 2014, down from 21 in Q4 2013.
- Funds reported $47.7M of Western Asset Investment Grade Defined Opportunity Trust stock for Q1 2014, up 16% quarter-over-quarter.
- 3 funds opened new Western Asset Investment Grade Defined Opportunity Trust positions in Q1 2014 and 4 closed out, a net change of -1 holder.
- The largest Western Asset Investment Grade Defined Opportunity Trust buyer in Q1 2014 was Sit Investment Associates, an estimated $6.94M added.
- The largest Western Asset Investment Grade Defined Opportunity Trust seller in Q1 2014 was Saba Capital Management, an estimated $1.33M sold.
Based on aggregated 13F filings for Q1 2014.