Western Asset Investment Grade Income Fund
PAI
21 hedge funds and large institutions have $30M invested in Western Asset Investment Grade Income Fund in 2014 Q4 according to their latest regulatory filings, with 5 funds opening new positions, 7 increasing their positions, 7 reducing their positions, and 3 closing their positions.
67% more first-time investments, than exits
New positions opened: 5 | Existing positions closed: 3
0% more funds holding
Funds holding: 21 → 21 (0)
0% more repeat investments, than reductions
Existing positions increased: 7 | Existing positions reduced: 7
1.61% less ownership
Funds ownership: 25.22% → 23.61% (-1.6%)
6% less capital invested
Capital invested by funds: $32M → $30M (-$1.91M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$1.24M |
| 2 |
Morgan Stanley
New York
|
+$363K |
| 3 |
LTFS
Ladenburg Thalmann Financial Services
Miami,
Florida
|
+$191K |
| 4 |
ICAS
Investors Capital Advisory Services
Lynnfield,
Massachusetts
|
+$152K |
| 5 |
GIP
Granite Investment Partners
El Segundo,
California
|
+$95.4K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
-$2.01M |
| 2 |
MFS
MSI Financial Services
Springfield,
Massachusetts
|
-$1.13M |
| 3 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$315K |
| 4 |
DA
Doliver Advisors
Houston,
Texas
|
-$234K |
| 5 |
AQR Capital Management
Greenwich,
Connecticut
|
-$207K |
PAI Hedge Fund Activity: Q4 2014 in Review
21 of the 3,765 institutional investors tracked by Wall St. Rank reported a position in Western Asset Investment Grade Income Fund (PAI) for Q4 2014, worth a combined $30M — down 6% from $32M a quarter earlier.
Buyers outnumbered sellers: 5 funds opened new PAI positions and 3 closed out — a net gain of 2 holders — while 7 added to existing stakes and 7 trimmed.
The largest buyer was Karpus Investment Management, adding an estimated $1.24M. The largest seller was Saba Capital Management, cutting an estimated $2.01M.
- 21 institutional investors held Western Asset Investment Grade Income Fund (PAI) as of Q4 2014, unchanged from Q3 2014.
- Funds reported $30M of Western Asset Investment Grade Income Fund stock for Q4 2014, down 6% quarter-over-quarter.
- 5 funds opened new Western Asset Investment Grade Income Fund positions in Q4 2014 and 3 closed out, a net change of +2 holders.
- The largest Western Asset Investment Grade Income Fund buyer in Q4 2014 was Karpus Investment Management, an estimated $1.24M added.
- The largest Western Asset Investment Grade Income Fund seller in Q4 2014 was Saba Capital Management, an estimated $2.01M sold.
Based on aggregated 13F filings for Q4 2014.