Western Asset Managed Municipals Fund Inc. (NYSE: MMU) announces its portfolio composition as of September 30, 2015.
Investment Objective: The Fund seeks to maximize current income exempt from federal income tax as is consistent with preservation of principal.
Portfolio Composition*:
Asset Allocation | |
Municipal | 96.7% |
Variable Rate Demand Notes | 3.3% |
Top Ten Municipal Sectors | |
| Transportation | 19.8% |
| Industrial Revenue | 16.9% |
| Pre refunded / Escrowed to Maturity | 13.9% |
| Health Care | 10.7% |
| Education | 9.1% |
| Water & Sewer | 7.4% |
| Power | 6.8% |
| Lease Backed | 6.2% |
| Special Tax Obligation | 3.5% |
| Housing | 1.4% |
Credit Quality Allocation** | |
| AAA | 5.3% |
| AA | 31.0% |
| A | 43.0% |
| BBB | 16.2% |
| BB | 3.4% |
| Not Rated | 1.1% |
Call Statistics | |
| Not Callable | 13.6% |
| 2015 | 4.4% |
| 2016 | 3.3% |
| 2017 | 2.6% |
| 2018 | 12.6% |
| 2019 | 20.5% |
| 2020 | 13.2% |
| 2021 | 7.4% |
| 2022 | 6.2% |
| 2023 | 9.9% |
| 2024 | 3.4% |
| 2025 | 2.6% |
| 2028 | 0.4% |
Average Life (years) | 9.8 |
Effective Duration (years) | 8.9 |
Average Coupon (%) | 5.1 |
Subject to AMT (%) | 11.4 |
Portfolio Statistics: | |
Inception Date | June 26, 1992 |
Inception Price | $12.00 |
Total Assets*** | $859,107,188 |
Net Assets | $608,945,203 |
Preferred Shares**** | 29.06% |
Market Price | $13.87 |
NAV | $14.21 |
| (Daily NAV is available on market quotation systems using the symbol XMMUX.) | |
Distribution Rate | $0.0650 per share |
Frequency | Monthly (Declared quarterly, paid monthly) |
| * |
Portfolio holdings and weightings are historical and are presented
here for | |
| ** |
Credit quality is a measure of a bond issuer's ability to repay
interest and | |
| *** |
The difference between total assets and net assets, if any, is due
primarily | |
| **** |
Percentages are based on total assets. If the Fund employs
leverage, the |
Western Asset Managed Municipals Fund Inc., a non-diversified closed-end investment management company, is advised by Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc., and is sub-advised by Western Asset Management Company, an affiliate of the advisor.
An investment in the Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate. Fixed income securities are subject to credit risk, inflation risk, call risk, and interest rate risks. As interest rates rise, bond prices fall, reducing the value of the Fund's share price. Certain investors may be subject to the alternative minimum tax (AMT). State and local taxes may apply.
Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Fund.
For more information, please call Fund Investor Services at 1-888-777-0102, or consult the Fund’s web site at http://www.lmcef.com. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20151030005934/en/
Contacts:
Maria Rosati,
212-805-6036
mrosati@leggmason.com
