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Western Asset High Income Fund II

NYSE:HIX
Snowflake Description

Unattractive dividend payer and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HIX
NYSE
$561M
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

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 last earnings update was 84 days ago. More info.


Add to Portfolio Compare Print
  • Western Asset High Income Fund II is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
HIX Share Price and Events
7 Day Returns
0.9%
NYSE:HIX
-0.2%
US Capital Markets
0.4%
US Market
1 Year Returns
-0.3%
NYSE:HIX
-12.4%
US Capital Markets
3.5%
US Market
HIX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Western Asset High Income Fund II (HIX) 0.9% 2.4% 18.8% -0.3% -0.5% -30%
US Capital Markets -0.2% -1.4% 11.7% -12.4% 55.2% 57.9%
US Market 0.4% 1.6% 16.4% 3.5% 39.4% 44%
1 Year Return vs Industry and Market
  • HIX outperformed the Capital Markets industry which returned -12.4% over the past year.
  • HIX underperformed the Market in United States of America which returned 3.5% over the past year.

HIX Value

 Is Western Asset High Income Fund II undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Western Asset High Income Fund II. This is due to cash flow or dividend data being unavailable. The share price is $6.51.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Western Asset High Income Fund II's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Western Asset High Income Fund II's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:HIX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-10-31) in USD $-0.16
NYSE:HIX Share Price ** NYSE (2019-03-22) in USD $6.51
United States of America Capital Markets Industry PE Ratio Median Figure of 78 Publicly-Listed Capital Markets Companies 23.69x
United States of America Market PE Ratio Median Figure of 3,058 Publicly-Listed Companies 17.52x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Western Asset High Income Fund II.

NYSE:HIX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:HIX Share Price ÷ EPS (both in USD)

= 6.51 ÷ -0.16

-40.06x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Western Asset High Income Fund II is loss making, we can't compare its value to the US Capital Markets industry average.
  • Western Asset High Income Fund II is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Western Asset High Income Fund II's expected growth come at a high price?
Raw Data
NYSE:HIX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -40.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Capital Markets Industry PEG Ratio Median Figure of 33 Publicly-Listed Capital Markets Companies 2.14x
United States of America Market PEG Ratio Median Figure of 2,103 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Western Asset High Income Fund II, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Western Asset High Income Fund II's assets?
Raw Data
NYSE:HIX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-10-31) in USD $7.07
NYSE:HIX Share Price * NYSE (2019-03-22) in USD $6.51
United States of America Capital Markets Industry PB Ratio Median Figure of 150 Publicly-Listed Capital Markets Companies 4.83x
United States of America Market PB Ratio Median Figure of 5,157 Publicly-Listed Companies 1.88x
NYSE:HIX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:HIX Share Price ÷ Book Value per Share (both in USD)

= 6.51 ÷ 7.07

0.92x

* Primary Listing of Western Asset High Income Fund II.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Western Asset High Income Fund II is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Western Asset High Income Fund II's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Western Asset High Income Fund II has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

HIX Future Performance

 How is Western Asset High Income Fund II expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Western Asset High Income Fund II has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.5%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Western Asset High Income Fund II expected to grow at an attractive rate?
  • Unable to compare Western Asset High Income Fund II's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Western Asset High Income Fund II's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Western Asset High Income Fund II's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NYSE:HIX Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.5%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:HIX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:HIX Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-10-31 59 37 -14
2018-07-31 60 47 1
2018-04-30 61 58 16
2018-01-31 62 54 44
2017-10-31 64 50 72
2017-07-31 66 55 94
2017-04-30 68 60 117
2017-01-31 69 64 91
2016-10-31 71 68 65
2016-07-31 72 73 6
2016-04-30 73 79 -54
2016-01-31 75 88 -50

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Western Asset High Income Fund II is high growth as no earnings estimate data is available.
  • Unable to determine if Western Asset High Income Fund II is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:HIX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Western Asset High Income Fund II Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:HIX Past Financials Data
Date (Data in USD Millions) EPS *
2018-10-31 -0.16
2018-07-31 0.01
2018-04-30 0.18
2018-01-31 0.51
2017-10-31 0.83
2017-07-31 1.09
2017-04-30 1.35
2017-01-31 1.05
2016-10-31 0.75
2016-07-31 0.06
2016-04-30 -0.62
2016-01-31 -0.58

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Western Asset High Income Fund II will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Western Asset High Income Fund II's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Western Asset High Income Fund II has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

HIX Past Performance

  How has Western Asset High Income Fund II performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Western Asset High Income Fund II's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Western Asset High Income Fund II does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Western Asset High Income Fund II's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Western Asset High Income Fund II's 1-year growth to the US Capital Markets industry average as it is not currently profitable.
Earnings and Revenue History
Western Asset High Income Fund II's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Western Asset High Income Fund II Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:HIX Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-10-31 59.00 -13.95 7.62
2018-07-31 60.08 0.84 7.73
2018-04-30 61.15 15.63 7.84
2018-01-31 62.44 43.70 7.90
2017-10-31 63.72 71.77 7.96
2017-07-31 65.73 94.24 7.90
2017-04-30 67.74 116.71 7.85
2017-01-31 69.44 90.82 7.68
2016-10-31 71.13 64.94 7.50
2016-07-31 72.21 5.55 7.60
2016-04-30 73.29 -53.84 7.70
2016-01-31 75.19 -49.75 7.99
2015-10-31 77.09 -45.66 8.28
2015-07-31 78.38 -26.21 8.55
2015-04-30 79.67 -6.77 8.82
2015-01-31 81.07 14.39 9.07
2014-10-31 82.48 35.55 9.33
2014-07-31 83.66 52.12 9.29
2014-04-30 84.85 68.69 9.26
2014-01-31 85.01 85.21 9.11
2013-10-31 85.18 101.73 8.96
2013-07-31 86.48 122.34 8.84
2013-04-30 87.77 142.96 8.72
2013-01-31 89.41 138.24 8.61
2012-10-31 91.05 133.52 8.50
2012-07-31 91.78 79.29 8.54
2012-04-30 92.50 25.06 8.58

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Western Asset High Income Fund II has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Western Asset High Income Fund II has efficiently used its assets last year compared to the US Capital Markets industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Western Asset High Income Fund II improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Western Asset High Income Fund II's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Western Asset High Income Fund II has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

HIX Health

 How is Western Asset High Income Fund II's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Western Asset High Income Fund II's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Western Asset High Income Fund II's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Western Asset High Income Fund II's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Western Asset High Income Fund II's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Western Asset High Income Fund II Company Filings, last reported 4 months ago.

NYSE:HIX Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-10-31 607.04 251.29 0.33
2018-07-31 607.04 251.29 0.33
2018-04-30 636.84 235.00 3.06
2018-01-31 636.84 235.00 3.06
2017-10-31 670.76 240.00 1.83
2017-07-31 670.76 240.00 1.83
2017-04-30 671.08 240.00 0.65
2017-01-31 671.08 240.00 0.65
2016-10-31 652.78 240.00 1.22
2016-07-31 652.78 240.00 1.22
2016-04-30 613.63 240.00 0.78
2016-01-31 613.63 240.00 0.78
2015-10-31 654.47 243.00 3.30
2015-07-31 654.47 243.00 3.30
2015-04-30 738.42 263.00 10.23
2015-01-31 738.42 263.00 10.23
2014-10-31 771.51 267.56 1.86
2014-07-31 771.51 267.56 1.86
2014-04-30 816.30 262.15 6.84
2014-01-31 816.30 262.15 6.84
2013-10-31 808.65 263.69 2.81
2013-07-31 808.65 263.69 2.81
2013-04-30 822.40 224.20 8.82
2013-01-31 822.40 224.20 8.82
2012-10-31 782.59 224.20 1.61
2012-07-31 782.59 224.20 1.61
2012-04-30 756.45 253.88 2.83
  • Western Asset High Income Fund II's level of debt (41.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (32.6% vs 41.4% today).
  • Debt is not well covered by operating cash flow (14.7%, less than 20% of total debt).
  • Western Asset High Income Fund II is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Western Asset High Income Fund II's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Western Asset High Income Fund II has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

HIX Dividends

 What is Western Asset High Income Fund II's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
8.4%
Current annual income from Western Asset High Income Fund II dividends.
If you bought $2,000 of Western Asset High Income Fund II shares you are expected to receive $168 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Western Asset High Income Fund II's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Western Asset High Income Fund II's dividend is above the markets top 25% of dividend payers in United States of America (3.67%).
Upcoming dividend payment

Purchase Western Asset High Income Fund II on or before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:HIX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 2.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2006 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:HIX Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-20 0.547 8.476
2018-11-12 0.546 8.988
2018-08-20 0.546 8.691
2018-05-14 0.546 8.454
2018-02-15 0.546 8.261
2017-11-13 0.552 7.981
2017-08-14 0.588 8.214
2017-05-17 0.600 8.266
2017-02-14 0.630 8.633
2016-11-15 0.648 9.185
2016-08-15 0.678 9.527
2016-05-17 0.738 10.596
2016-02-18 0.798 12.250
2015-11-16 0.828 13.283
2015-08-17 0.828 12.192
2015-05-20 0.828 11.057
2015-02-18 0.828 10.182
2014-11-18 0.828 10.207
2014-08-18 0.828 9.215
2014-05-20 0.828 8.879
2014-02-13 0.840 8.964
2013-11-18 0.870 9.494
2013-08-19 0.900 9.736
2013-05-21 0.900 9.865
2013-02-19 0.930 9.219
2012-11-13 0.960 9.703
2012-08-13 0.990 9.513
2012-05-14 0.990 9.893
2012-02-13 0.990 9.844
2011-11-14 0.990 10.134
2011-08-12 0.990 10.379
2011-05-16 1.020 10.210
2011-02-14 1.020 10.245
2010-11-15 1.020 10.708
2010-08-16 1.020 10.468
2010-05-17 1.080 11.605
2010-02-16 1.140 11.719
2009-11-16 1.140 12.333
2009-08-13 1.140 13.254
2009-05-26 1.140 15.156
2009-03-23 1.140 18.720

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Western Asset High Income Fund II's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Western Asset High Income Fund II's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Western Asset High Income Fund II afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Western Asset High Income Fund II has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

HIX Management

 What is the CEO of Western Asset High Income Fund II's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ken Fuller
AGE 60
TENURE AS CEO 5.8 years
CEO Bio

Mr. Kenneth Donald Fuller, also known as Ken, has been Chief Executive Officer and President of Western Asset High Income Opportunity Fund Inc. and LMP Corporate Loan Fund Inc. since June 1, 2013. Mr. Fuller serves as the Managing Director of Legg Mason & Co., LLC. He was President and Chief Executive Officer of Legg Mason Partners Fund Advisor, LLC and served as its Senior Vice President. He served as Chairman, Chief Executive Officer and President of Western Asset Emerging Markets Debt Fund Inc. He served as Chairman, Chief Executive Officer and President of Western Asset Inflation Management Fund Inc. since June 1, 2013. Mr. Fuller served as Chief Executive Officer and President of LMP Real Estate Income Fund Inc., Western Asset Managed High Income Fund Inc. and Western Asset Global Partners Income Fund Inc. since June 1, 2013. Previously, he served as a Vice President at Legg Mason & Co. from 2009 to 2012. Mr. Fuller served as the Vice President of Equity Division at T. Rowe Price Associates from 1993 to 2009, as well as Investment Analyst and Portfolio Manager for certain asset allocation accounts from 2004 to 2009. He has been Chairman and Director of Western Asset High Income Opportunity Fund Inc. and LMP Corporate Loan Fund Inc. since June 1, 2013. Previously, Mr. Fuller served as a Director of Legg Mason & Co. from 2012 to 2013.

CEO Compensation
  • Insufficient data for Ken to compare compensation growth.
  • Insufficient data for Ken to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Western Asset High Income Fund II management team in years:

8.7
Average Tenure
57
Average Age
  • The average tenure for the Western Asset High Income Fund II management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Ken Fuller

TITLE
Chairman
AGE
60
TENURE
5.8 yrs

Richard Sennett

TITLE
Principal Financial Officer
AGE
48
TENURE
8.2 yrs

Robert Frenkel

TITLE
Chief Legal Officer and Secretary
AGE
64
TENURE
16.2 yrs

Theodore Becker

TITLE
Chief Compliance officer
AGE
67
TENURE
13.2 yrs

Steven Frank

TITLE
Treasurer
AGE
51
TENURE
9.2 yrs

Bruce Alberts

TITLE
Officer of Subsidiary
AGE
57

Vanessa Williams

TITLE
Identity Theft Prevention officer
AGE
39
TENURE
8.2 yrs
Board of Directors Tenure

Average tenure and age of the Western Asset High Income Fund II board of directors in years:

12
Average Tenure
72
Average Age
  • The average tenure for the Western Asset High Income Fund II board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

William Hutchinson

TITLE
Lead Independent Director
COMPENSATION
$16K
AGE
76
TENURE
4.8 yrs

Ken Fuller

TITLE
Chairman
AGE
60
TENURE
5.8 yrs

Daniel Cronin

TITLE
Non-Interested Director
COMPENSATION
$15K
AGE
72
TENURE
17.2 yrs

Riordan Roett

TITLE
Non-Interested Director
COMPENSATION
$14K
AGE
80
TENURE
21.2 yrs

Leslie Gelb

TITLE
Non-Interested Director
COMPENSATION
$14K
AGE
81
TENURE
18.2 yrs

Carol Colman

TITLE
Non-Interested Director
COMPENSATION
$15K
AGE
72
TENURE
17.2 yrs

Paolo Cucchi

TITLE
Non-Interested Director
COMPENSATION
$14K
AGE
77
TENURE
12 yrs

Eileen Kamerick

TITLE
Non-Interested Director
COMPENSATION
$14K
AGE
60
TENURE
6.1 yrs

Robert Agdern

TITLE
Director
AGE
68
TENURE
4.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
11. Feb 19 Buy Saba Capital Management, L.P. Company 07. Feb 19 07. Feb 19 11,876 $6.36 $75,531
30. Jan 19 Buy Saba Capital Management, L.P. Company 28. Jan 19 29. Jan 19 109,100 $6.39 $695,147
28. Jan 19 Buy Saba Capital Management, L.P. Company 24. Jan 19 24. Jan 19 191,350 $6.15 $1,176,803
24. Jan 19 Buy Saba Capital Management, L.P. Company 23. Jan 19 23. Jan 19 41,456 $6.14 $254,540
22. Jan 19 Buy Saba Capital Management, L.P. Company 17. Jan 19 18. Jan 19 150,574 $6.17 $926,462
17. Jan 19 Buy Saba Capital Management, L.P. Company 15. Jan 19 16. Jan 19 248,424 $6.25 $1,551,443
15. Jan 19 Buy Saba Capital Management, L.P. Company 11. Jan 19 14. Jan 19 203,461 $6.23 $1,266,504
11. Jan 19 Buy Saba Capital Management, L.P. Company 09. Jan 19 10. Jan 19 184,665 $6.19 $1,143,076
09. Jan 19 Buy Saba Capital Management, L.P. Company 04. Jan 19 08. Jan 19 109,011 $6.17 $663,638
04. Jan 19 Buy Saba Capital Management, L.P. Company 31. Dec 18 03. Jan 19 262,631 $5.84 $1,519,056
31. Dec 18 Buy Saba Capital Management, L.P. Company 27. Dec 18 28. Dec 18 267,294 $5.67 $1,505,411
24. Sep 18 Sell William Hutchinson Individual 24. Sep 18 24. Sep 18 -2,000 $6.35 $-12,700
X
Management checks
We assess Western Asset High Income Fund II's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Western Asset High Income Fund II has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

HIX News

Simply Wall St News

HIX Company Info

Description

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 is co-managed by Western Asset Management Company, Western Asset Management Company Limited, and Western Asset Management Company Pte. Ltd. It invests in the fixed income markets across the globe. The fund invests in securities of companies that operate across diversified sectors. It invests in high yield debt securities issued by U.S., foreign corporations and foreign governments. The fund employs a combination of quantitative and fundamental analysis with bottom-up security selection process to create its portfolio. It benchmarks the performance of its portfolio against Barclays Capital U.S. Corporate High Yield 2% Issuer Cap Index and the JPMorgan Emerging Markets Bond Index Global. Western Asset High Income Fund II, Inc. was formed on May 28, 1998 and is domiciled in the United States.

Details
Name: Western Asset High Income Fund II Inc.
HIX
Exchange: NYSE
Founded: 1998
$561,187,102
86,203,856
Website: http://institutional.myleggmason.com/portal/server.pt?open=512&objID=1377&cached=true&mode=2&userID=225408&mktcd=HIX
Address: Western Asset High Income Fund II Inc.
620 Eighth Avenue,
49th Floor,
New York,
New York, 10018,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE HIX Common Stock New York Stock Exchange US USD 22. May 1998
Number of employees
Current staff
Staff numbers
0
Western Asset High Income Fund II employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/22 23:56
End of day share price update: 2019/03/22 00:00
Last earnings filing: 2018/12/28
Last earnings reported: 2018/10/31
Last annual earnings reported: 2018/04/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.