Western Asset Management Company has managed a closed-ended fixed income mutual fund known as the Western Asset Income Fund since its inception on March 22, 1973. The Western Asset Income Fund, which invests in the fixed income markets of the United States, concentrates on investment grade debt, such as government securities, bank debt, commercial paper, and cash or cash equivalents. The fund benchmarks its performance against two main indices: the Barclays U.S. Corporate High Yield Index and the Barclays U.S. Credit Index. The Western Asset Income Fund is co-managed by Western Asset Management Company Limited and is domiciled in the United States.