Western Asset Mortgage Defined Opportunity Fund

Western Asset Mortgage Defined Opportunity Fund is a closed-end fixed income fund managed by Western Asset Management Company. It provides a leveraged portfolio primarily consisting of non-agency residential mortgage-backed securities, commercial mortgage-backed securities, and mortgage whole loans, with allocations also to opportunistic asset-backed securities and credit instruments. The fund employs intensive proprietary research and team management with extensive credit research expertise to identify attractively priced securities in the U.S. fixed income markets. Its primary objective is to seek current income through monthly distributions, with a secondary aim of capital appreciation. Benchmarking against the BofA Merrill Lynch U.S. Floating Rate Home Equity Loan Asset Backed Securities Index, it emphasizes floating-rate holdings and non-agency residential mortgages backed by lower credit quality assets. Founded in 2009 and domiciled in the United States, Western Asset Mortgage Defined Opportunity Fund plays a specialized role in the mortgage-focused segment of the closed-end fund market, offering exposure to high-yield opportunities in structured fixed income products.