Western Asset Investment Grade Income Fund
PAI
20 hedge funds and large institutions have $30.1M invested in Western Asset Investment Grade Income Fund in 2014 Q1 according to their latest regulatory filings, with 1 funds opening new positions, 11 increasing their positions, 6 reducing their positions, and 3 closing their positions.
83% more repeat investments, than reductions
Existing positions increased: 11 | Existing positions reduced: 6
11% more capital invested
Capital invested by funds: $27.2M → $30.1M (+$2.92M)
2.18% more ownership
Funds ownership: 21.81% → 23.99% (+2.2%)
9% less funds holding
Funds holding: 22 → 20 (-2)
67% less first-time investments, than exits
New positions opened: 1 | Existing positions closed: 3
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
1CP
1607 Capital Partners
Richmond,
Virginia
|
+$949K |
| 2 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$806K |
| 3 |
SCM
Saba Capital Management
New York
|
+$735K |
| 4 |
Wells Fargo
San Francisco,
California
|
+$695K |
| 5 |
CSIC
Clifford Swan Investment Counsel
Pasadena,
California
|
+$256K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$389K |
| 2 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$243K |
| 3 |
SG Americas Securities
New York
|
-$104K |
| 4 |
GIP
Granite Investment Partners
El Segundo,
California
|
-$75.9K |
| 5 |
U
UBS
Zurich,
Switzerland
|
-$64.1K |
PAI Hedge Fund Activity: Q1 2014 in Review
20 of the 3,464 institutional investors tracked by Wall St. Rank reported a position in Western Asset Investment Grade Income Fund (PAI) for Q1 2014, worth a combined $30.1M — up 11% from $27.2M a quarter earlier.
Sellers outnumbered buyers: 3 funds closed out of PAI and 1 opened new positions — a net loss of 2 holders — while 6 trimmed existing stakes and 11 added.
The largest buyer was 1607 Capital Partners, adding an estimated $949K. The largest seller was Wolverine Asset Management, exiting entirely with an estimated $389K sold.
- 20 institutional investors held Western Asset Investment Grade Income Fund (PAI) as of Q1 2014, down from 22 in Q4 2013.
- Funds reported $30.1M of Western Asset Investment Grade Income Fund stock for Q1 2014, up 11% quarter-over-quarter.
- 1 fund opened new Western Asset Investment Grade Income Fund positions in Q1 2014 and 3 closed out, a net change of -2 holders.
- The largest Western Asset Investment Grade Income Fund buyer in Q1 2014 was 1607 Capital Partners, an estimated $949K added.
- The largest Western Asset Investment Grade Income Fund seller in Q1 2014 was Wolverine Asset Management, an estimated $389K sold.
Based on aggregated 13F filings for Q1 2014.