As of August 29, 2016 Western Asset Managed High Income Fund Inc has been acquired by Western Asset High Income Opportunity Fund Inc. Western Asset Managed High Income Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company and Western Asset Management Company Limited. The fund invests in the fixed income markets of the United States. It seeks to invest in high yield corporate bonds, debentures and notes. The fund seeks to maintain an average duration of around four years with an average credit quality of B. It employs fundamental analysis with a combination of bottom-up and top-down approach to create its portfolio. The fund benchmarks the performance of its portfolio against the Barclays Capital U.S. Corporate High Yield 2% Issuer Cap Index. It conducts in-house research to make its investments. It was formerly known as Managed High Income Portfolio Inc. Western Asset Managed High Income Fund Inc was formed on December 24, 1992 and is domiciled in the United States.