0001752724-23-051610.txt : 20230310 0001752724-23-051610.hdr.sgml : 20230310 20230310104527 ACCESSION NUMBER: 0001752724-23-051610 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20221231 FILED AS OF DATE: 20230310 DATE AS OF CHANGE: 20230310 EFFECTIVENESS DATE: 20230310 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Western Asset Diversified Income Fund CENTRAL INDEX KEY: 0001819559 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-23598 FILM NUMBER: 23722115 BUSINESS ADDRESS: STREET 1: LEGG MASON STREET 2: 620 EIGHTH AVENUE, 47TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 BUSINESS PHONE: 2128056026 MAIL ADDRESS: STREET 1: LEGG MASON STREET 2: 620 EIGHTH AVENUE, 47TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 N-CEN 1 primary_doc.xml X0404 N-CEN LIVE 0001819559 XXXXXXXX 811-23598 false false false N-2 Western Asset Diversified Income Fund 811-23598 0001819559 549300M67UHXW4GHZ644 620 EIGHTH AVENUE 47TH FLOOR NEW YORK 10018 US-NY US 1-888-777-0102 Computershare Inc. 462 South 4th Street Suite 1600 Louisville 40202 1-502-301-6000 Records related to its function as transfer agent. Western Asset Diversified Income Fund 620 Eighth Avenue 47th Floor New York 10018 1-888-777-0102 Records related to its function as registrant. Western Asset Management Company Limited 10 Exchange Square Primrose Street London GB EC2A 2EN 44-20-7422-3000 Records related to its function as sub-advisor. The Bank of New York Mellon 240 Greenwich Street New York 10286 1-212-495-1784 Records related to its function as custodian. Western Asset Management Company Pte. Ltd. 1 George Street #23-01 Singapore SG 049145 65-6428-3600 Records related to its function as sub-advisor. Western Asset Management Company, LLC 385 East Colorado Boulevard Pasadena 91101 1-626-844-9400 Records related to its function as sub-advisor. Western Asset Management Company Ltd. 5-1 Marunouchi 1-Chome Chiyoda-Ku Tokyo JP 100-6536 81-03-4520-4300 Records related to its function as sub-advisor. Legg Mason Partners Fund Advisor, LLC 280 Park Avenue New York 10017 1-305-529-4400 Records related to its function as advisor. N N N-2 Y Eileen A. Kamerick N/A N Jane Trust N/A Y Robert D. Agdern N/A N Nisha Kumar N/A N Daniel P. Cronin N/A N Carol L. Colman N/A N Paolo M. 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Ltd. 801-67298 000142188 549300GGQQAH8OMMCX51 Y SG N Computershare, Inc. 084-05925 254900Y7PP3ZED9AUY94 N N N Virtu Financial, Inc. 5493001OPW2K42CH3884 N Refinitiv Benchmark Services Limited N/A N Refinitiv US LLC 213800HQORQAP68CJJ04 N Bank of America Merill Lynch PriceServe N/A N THE CLEARING HOUSE PAYMENTS COMPANY L.L.C. 549300KIB86ZLHRUV723 N IHS MARKIT GROUP HOLDINGS LIMITED 2138005LTLTVZ4WMEX25 GB N Bloomberg L.P. 549300B56MD0ZC402L06 N PricingDirect Inc. 549300WIC0TOJ7N7GD54 N ICE Data Pricing & Reference Data, LLC 5493000NQ9LYLDBCTL34 N N The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Computershare Trust Company, National Association 2549001YYB62BVMSAO13 N N N Legg Mason Partners Fund Advisor, LLC 549300POFVK5JLWUL193 Y N N Franklin Distributors, LLC 008-53089 000109064 N/A 0.00000000 ROYCE FUND SERVICES, LLC 008-28663 000014470 N/A 0.00000000 Clarion Partners Securities, LLC 008-69204 000166384 N/A 0.00000000 Franklin Templeton Investment Services, Inc. 008-43206 000027884 N/A 0.00000000 STONEX FINANCIAL INC. 008-51269 000045993 549300LNKU6K5TJCRG93 9997.44000000 CITIGROUP GLOBAL MARKETS INC. 008-08177 000007059 MBNUM2BPBDO7JBLYG310 18937.44000000 JEFFERIES LLC 008-15074 000002347 58PU97L1C0WSRCWADL48 2532.72000000 R.J. 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Report of Independent Registered Public Accounting Firm

To the Board of Trustees and Shareholders of Western Asset Diversified Income Fund

In planning and performing our audit of the financial statements of Western Asset Diversified Income Fund (the "Fund") as of and for the year ended December 31, 2022, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Fund's internal control over financial reporting.

The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial

statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company's assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of December 31, 2022.

This report is intended solely for the information and use of the Board of Trustees of Western Asset Diversified Income Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

/s/ PricewaterhouseCoopers LLP

Baltimore, Maryland

February 22, 2023

PricewaterhouseCoopers LLP, 100 East Pratt Street, Suite 2600, Baltimore, MD 21202

T: (410) 783 7600, F: (410) 783 7680, www .pwc.com/us