Western Asset Investment Grade Income Fund
PAI
23 hedge funds and large institutions have $21.4M invested in Western Asset Investment Grade Income Fund in 2013 Q3 according to their latest regulatory filings, with 2 funds opening new positions, 13 increasing their positions, 5 reducing their positions, and 3 closing their positions.
160% more repeat investments, than reductions
Existing positions increased: 13 | Existing positions reduced: 5
17% more capital invested
Capital invested by funds: $18.3M → $21.4M (+$3.13M)
2.48% more ownership
Funds ownership: 14.91% → 17.39% (+2.5%)
8% less funds holding
Funds holding: 25 → 23 (-2)
33% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 3
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
1CP
1607 Capital Partners
Richmond,
Virginia
|
+$1.62M |
| 2 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$1.19M |
| 3 |
MFS
MSI Financial Services
Springfield,
Massachusetts
|
+$746K |
| 4 |
GIP
Granite Investment Partners
El Segundo,
California
|
+$586K |
| 5 |
U
UBS
Zurich,
Switzerland
|
+$434K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$1.11M |
| 2 |
Morgan Stanley
New York
|
-$803K |
| 3 |
SFS
Shaker Financial Services
Arlington,
Virginia
|
-$375K |
| 4 |
RJFSA
Raymond James Financial Services Advisors
St. Petersburg,
Florida
|
-$273K |
| 5 |
TC
TFS Capital
West Chester,
Pennsylvania
|
-$129K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
26
First Manhattan
New York
| – | -$43K | -3,400 | Closed |
|
PAI Hedge Fund Activity: Q3 2013 in Review
23 of the 3,085 institutional investors tracked by Wall St. Rank reported a position in Western Asset Investment Grade Income Fund (PAI) for Q3 2013, worth a combined $21.4M — up 17% from $18.3M a quarter earlier.
Sellers outnumbered buyers: 3 funds closed out of PAI and 2 opened new positions — a net loss of 1 holder — while 5 trimmed existing stakes and 13 added.
The largest buyer was 1607 Capital Partners, adding an estimated $1.62M. The largest seller was Guggenheim Capital, cutting an estimated $1.11M.
- 23 institutional investors held Western Asset Investment Grade Income Fund (PAI) as of Q3 2013, down from 25 in Q2 2013.
- Funds reported $21.4M of Western Asset Investment Grade Income Fund stock for Q3 2013, up 17% quarter-over-quarter.
- 2 funds opened new Western Asset Investment Grade Income Fund positions in Q3 2013 and 3 closed out, a net change of -1 holder.
- The largest Western Asset Investment Grade Income Fund buyer in Q3 2013 was 1607 Capital Partners, an estimated $1.62M added.
- The largest Western Asset Investment Grade Income Fund seller in Q3 2013 was Guggenheim Capital, an estimated $1.11M sold.
Based on aggregated 13F filings for Q3 2013.