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Certain Closed-end Funds Advised by Franklin Templeton Fund Adviser, LLC Announce Appointment of New Chair and Directors

By: Franklin Resources, Inc. and Legg Mason Closed End Funds via Business Wire

November 15, 2024 at 08:00 AM EST

BrandywineGLOBAL – Global Income Opportunities Fund Inc. (“BWG”)

Clarion Partners Real Estate Income Fund Inc. (“CPREIF”)

ClearBridge Energy Midstream Opportunity Fund Inc. (“EMO”)

LMP Capital and Income Fund Inc. (“SCD”)

Western Asset Diversified Income Fund (“WDI”)

Western Asset Emerging Markets Debt Fund Inc. (“EMD”)

Western Asset Global Corporate Opportunity Fund Inc. (“GDO”)

Western Asset Global High Income Fund Inc. (“EHI”)

Western Asset High Income Fund II Inc. (“HIX”)

Western Asset High Income Opportunity Fund Inc. (“HIO”)

Western Asset High Yield Defined Opportunity Fund Inc. (“HYI”)

Western Asset Intermediate Muni Fund Inc. (“SBI”)

Western Asset Investment Grade Opportunity Trust Inc. (“IGI”)

Western Asset Managed Municipals Fund Inc. (“MMU”)

Western Asset Mortgage Opportunity Fund Inc. (“DMO”)

Western Asset Municipal High Income Fund Inc. (“MHF”)

(collectively, the “Funds”)

The Board of each Fund announced today the elevation of independent Director Eileen A. Kamerick to Chair of Board, effective November 15, 2024. Ms. Kamerick replaces Jane Trust, the former Chair of the Board of the Funds. Ms. Trust will continue to serve as an interested Director of the Funds. The Boards also announced the appointments of Anthony Grillo, Peter Mason and Hillary Sale as Directors of the Funds, effective November 15, 2024.

Ms. Kamerick has served as an independent Director of the Funds since 2013. Ms. Kamerick is an adjunct professor at leading law schools and consults on corporate governance and financial strategy matters. Ms. Kamerick is also a National Association of Corporate Directors Board Leadership Fellow, with Director Certification and NACD 2022 Directorship 100 honoree. Ms. Kamerick has also served as Chief Financial Officer at several leading companies, including Houlihan Lokey, Heidrick & Struggles International, Inc. Leo Burnett, and BP Amoco Americas. She also serves an independent director of Associated Banc Corp., ACV Auctions Inc. and VALIC Company I.

Mr. Grillo was one of the founders of the American Securities Opportunity Funds established in 2005. Mr. Grillo served as Managing Director of the American Securities Opportunity Funds until his retirement in 2018. Prior to his experience at American Securities Opportunity Funds, he held senior management positions at various private equity and private credit firms. Currently, Mr. Grillo is a Director of Littelfuse, Inc. since 1991. Mr. Grillo served on the board of directors of Oaktree Acquisition Corp. II (NYSE: OACB) from September 2020 until its merger with Alvotech Holdings S.A. in June 2022. He previously served on the board of directors of Oaktree Acquisition Corp. (NYSE: OAC) from June 2019 until its merger with Hims & Hers Health, Inc. in January 2021.

Mr. Mason has been an international commercial arbitrator and mediator since 2021. Prior to establishing his arbitration and mediation practice, Mr. Mason served as global General Counsel of UNICEF from 1998 through 2021. At UNICEF, he chaired the Investment Committee for a retiree benefits fund and was a member of the Global Finance Committee. He served on the UNICEF Audit Committee for eight years.

Ms. Sale has been the Agnes Williams Sesquicentennial Professor of Leadership and Corporate Governance at the Georgetown University Law Center and Professor of Management at the McDonough School of Business at Georgetown University since 2018, and was Associate Dean for Strategy at the Georgetown University Law Center from 2020 to 2023. Ms. Sale has been a Board Faculty Member of the National Association of Corporate Directors since 2021, and a Director of CBOE Regulatory Boards since 2022. Ms. Sale was a Member of the Board of Governors of FINRA from 2016 to 2022.

For more information about the Funds, please call 1-888-777-0102 or consult the Funds’ website at www.franklintempleton.com/investments/options/closed-end-funds. Hard copies of the Funds’ 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 Funds traded on the New York Stock Exchange.

Certain Fund shares are traded on the New York Stock Exchange. Similar to stocks, such Fund share prices will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value, and can increase an investor’s risk of loss. All investments are subject to risk, including the risk of loss.

INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

About Franklin Templeton

Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and over $1.6 trillion in assets under management as of October 31, 2024. For more information, please visit franklintempleton.com and follow us on LinkedIn, X and Facebook.

Category: Fund Announcement

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

View source version on businesswire.com: https://www.businesswire.com/news/home/20241115156581/en/

Contacts

Media Contact: Lisa Tibbitts

+1 (904) 942-4451

Lisa.Tibbitts@franklintempleton.com

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Certain Closed-end Funds Advised by Franklin Templeton Fund Adviser, LLC Announce Appointment of New Chair and Directors

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