Western Asset Managed Municipals Fund : Announces Financial Position as of February 28, 2021
April 28, 2021 at 08:02 am EDT
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Western Asset Managed Municipals Fund Inc. (NYSE: MMU) today announced the financial position of the Fund as of February 28, 2021.
Current Q
Previous Q
Prior Yr Q
February 28, 2021
November 30, 2020
February 29, 2020
Total Assets (a)
$
847,597,982
$
847,756,670
$
892,803,466
Total Net Assets (a)
$
598,806,407
$
599,587,530
$
623,155,994
NAV Per Share of Common Stock (b)
$
13.81
$
13.83
$
14.37
Market Price Per Share
$
12.65
$
12.61
$
13.35
Premium / (Discount)
(8.40
)%
(8.82
)%
(7.10
)%
Outstanding Shares
43,367,851
43,367,851
43,367,851
Total Net Investment Income (c)(d)
$
5,730,659
$
5,940,484
$
6,088,407
Total Net Realized/Unrealized Gain/(Loss) (c)
$
(565,818
)
$
7,144,422
$
25,304,249
Preferred Dividends Paid from Net Investment Income (c)
$
(91,304
)
$
(125,219
)
$
(802,668
)
Net Increase (Decrease) in Net Assets From Operations (c)
$
5,073,537
$
12,959,687
$
30,589,988
Earnings per Common Share Outstanding
Total Net Investment Income (c)(d)
$
0.13
$
0.14
$
0.14
Total Net Realized/Unrealized Gain/(Loss) (c)
$
(0.01
)
$
0.16
$
0.58
Preferred Dividends Paid from Net Investment Income (c)
$
(0.00
)
†
$
(0.00
)
†
$
(0.02
)
Net Increase (Decrease)in Net Assets From Operations (c)
$
0.12
$
0.30
$
0.70
Undistributed Net Investment Income (e)
$
(357,549
)
$
(142,244
)
$
514,138
Undistributed Net Investment Income
Per Share (e)
$
(0.01
)
$
(0.00
)
†
$
0.01
Auction Rate Preferred Stock (e)
$
27,625,000
$
27,625,000
$
27,650,000
Variable Rate Demand Preferred Stock (e)
$
217,575,000
$
217,575,000
$
217,575,000
Footnotes:
(a) The difference between the Fund’s total assets and total net assets is due primarily to its outstanding auction rate preferred stock (“ARPS) and variable rate demand preferred stock (“VRDPS”); total net assets do not include the liquidation value of ARPS and VRDPS.
(b) NAVs are calculated as of the close of business on the last business day in the periods indicated above.
(c) For the quarter indicated.
(d) Excludes distributions paid to preferred stockholders from net investment income.
(e) As of the date indicated above.
† Amount represents less than $0.01 per share.
This financial data is unaudited.
The Fund files its semi-annual and annual reports with the Securities and Exchange Commission (“SEC”), as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. These reports are available on the SEC’s website at www.sec.gov. To obtain information on Forms N-PORT or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102.
On July 31, 2020, Franklin Resources, Inc. (“Franklin Resources”) acquired Legg Mason, Inc. (“Legg Mason”) in an all-cash transaction. As a result of the transaction, Legg Mason Partners Fund Advisor, LLC, previously a wholly owned-subsidiary of Legg Mason, became a wholly-owned subsidiary of Franklin Resources.
Western Asset Managed Municipals Fund Inc., a non-diversified, closed-end investment management company, is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Franklin Resources, and is sub-advised by Western Asset Management Company, an affiliate of the manager.
For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s web site at www.lmcef.com. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.
Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Fund.
Category: Financials
Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Funds
View source version on businesswire.com: https://www.businesswire.com/news/home/20210428005478/en/
Western Asset Managed Municipals Fund Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fund's investment objective is to seek as high a level of current income exempt from federal income tax as is consistent with preservation of capital. When pursuing its investment objective, the Fund seeks to maximize current income exempt from federal income tax as is consistent with preservation of principal. The Fund seeks to achieve its objective by investing primarily in long-term investment grade municipal debt securities issued by state and local governments, political subdivisions, agencies, and public authorities. Under normal market conditions, the Fund will invest at least 80% of its total assets in municipal obligations rated investment grade at the time of investment. The Fund invests in a range of sectors, including health care, power, leasing, education, housing, and others. Legg Mason Partners Fund Advisor, LLC. is the investment manager of the Fund.