Western Asset Managed High Income Fund Inc. (the Fund) is a diversified, closed-end management investment company. The Fund's primary investment objective is high current income. Capital appreciation is a secondary objective. It invests primarily in high-yield corporate bonds, debentures and notes. It invests in sectors, such as consumer discretionary, financials, energy, industrials, materials, telecommunication services, utilities, healthcare and information technology. Legg Mason Partners Fund Advisor, LLC (LMPFA) is the Fund's investment manager. Western Asset Management Company (Western Asset) and Western Asset Management Company Limited (Western Asset Limited) are the Fund's sub-advisers. LMPFA, Western Asset and Western Asset Limited are wholly owned subsidiaries of Legg Mason, Inc.