The Western Asset Investment Grade Income Fund Inc. (PAI) functions as a closed-end mutual fund, concentrating its investments in fixed-income securities. Its oversight is primarily provided by Western Asset Management Company, with Western Asset Management Company Limited acting as a co-manager. The fund strategically allocates capital mainly within the debt markets of the United States. Its holdings are predominantly composed of investment-grade debt, which includes government bonds, bank-issued obligations, commercial paper, and highly liquid assets like cash. To evaluate its effectiveness, the fund's performance is benchmarked against both the Barclays U.S. Corporate High Yield Index and the Barclays U.S. Credit Index. This fund was founded in the U.S. on March 22, 1973.