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Managed High Yield Plus Fund Inc. Reports Earnings

Posted by Dana in February 2nd 2010

Managed High Yield Plus Fund Inc. (NYSE: HYF) (the “Fund”), a closed-end management investment company seeking high income, and secondarily, capital appreciation, primarily through investments in lower-rated, income-producing debt and related equity securities, announced its performance for the second quarter and fiscal year-to-date ended November 30, 2009.

For the second quarter ended November 30, 2009, the Fund’s earnings from net investment income were $3,618,407, equal to $0.06 per share. Total net realized and unrealized gains from investment activities were $9,707,292, equal to $0.16 per share, for the same period. This compares to earnings from net investment income of $5,841,090, equal to $0.10 per share, and total net realized and unrealized losses from investment activities of $(101,454,043), equal to $(1.66) per share, for the second quarter ended November 30, 2008.

For the six months ended November 30, 2009, the Fund’s earnings from net investment income were $7,615,468, equal to $0.12 per share. Total net realized and unrealized gains from investment activities were $20,786,809, equal to $0.34 per share, for the same period. This compares to earnings from net investment income of $12,710,669, equal to $0.21 per share, and total net realized and unrealized losses from investment activities of $(129,190,670), equal to $(2.11) per share, for the six months ended November 30, 2008.

On November 30, 2009, net assets of the Fund were $125,703,258. The net asset value per share was $2.05, based on 61,308,650 shares outstanding, which represents an increase of 31.41% from the net asset value per share of $1.56 ($95,654,519 applicable to 61,254,927 shares outstanding) on November 30, 2008.