Western Asset Investment Grade Opportunity Trust Inc. (NYSE: IGI) or (the “Fund”) Announces Portfolio Management Team Update
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 03 2025
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Source: Businesswire
Portfolio Management Team Announcement: Effective January 3, 2025, the Fund will have a new portfolio management team consisting of Michael Buchanan, Dan Alexander, Ryan Brist, Blanton Keh, and Molly Schwartz.
About Franklin Templeton and Western Asset: Franklin Templeton is a global investment management organization with over $1.6 trillion in assets under management, while Western Asset specializes in fixed-income management with $324.1 billion in AUM as of November 30, 2024.
Analyst Views on IGI
Wall Street analysts forecast IGI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IGI is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About IGI
Western Asset Investment Grade Defined Opportunity Trust Inc. is a non-diversified, closed-end management investment company. The Fund's primary investment objective is to provide current income and then to liquidate and distribute substantially all of the Fund's net assets to stockholders. As a secondary investment objective, the Fund will seek capital appreciation. The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its net assets in investment grade corporate fixed-income securities of varying maturities. The Fund's investment portfolio sectors include corporate bonds and notes; consumer discretionary; consumer staples; financials; energy; health care; industrials; information technology; utilities; materials; communication services; municipal bonds, and real estate. Legg Mason Partners Fund Advisor, LLC is the Fund's investment manager.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
