[April 26, 2018] |
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Western Asset Municipal Partners Fund Inc. Portfolio Composition as of March 31, 2018
Western Asset Municipal Partners Fund Inc. (NYSE: MNP) announces its
portfolio composition as of March 31, 2018.
Investment Objective: The Fund's primary investment objective is
to seek a high level of current income which is exempt from regular
federal income taxes, consistent with the preservation of capital. As a
secondary investment objective, the Fund intends to enhance portfolio
value by purchasing tax-exempt securities that, in the opinion of the
investment manager, may appreciate in value relative to other similar
obligations in the marketplace.
Portfolio Composition*:
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Asset Allocation
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Municipal
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99.7%
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Variable Rate Demand Notes
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0.3%
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Top Ten Municipal Sectors
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Transportation
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20.9%
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Industrial Revenue
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16.2%
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Health Care
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11.7%
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Pre Refunded/ Escrowed to Maturity
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10.4%
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Water & Sewer
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9.9%
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Lease Backed
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7.4%
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Education
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6.6%
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Local
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5.2%
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Special Tax Obligation
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5.1%
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State
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2.9%
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Credit Quality Allocation**
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AAA
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3.1%
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AA
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41.5%
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A
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34.8%
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BBB
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15.1%
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BB
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2.7%
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CCC
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0.3%
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Not Rated
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2.5%
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Call Statistics
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Not Callable
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14.8%
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2018
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4.7%
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2019
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3.8%
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2020
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11.9%
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2021
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10.5%
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2022
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12.1%
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2023
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9.0%
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2024
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4.2%
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2025
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11.0%
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2026
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5.8%
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2027
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9.3%
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2028
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2.9%
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Average Life (years)
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7.6
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Effective Duration (years)
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9.5
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Average Coupon (%)
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5.1
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Subject to AMT (News - Alert) (%)
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10.4
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Portfolio Statistics:
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Inception Date
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January 29, 1993
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Inception Price
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$15.00
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Total Assets***
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$241,027,715
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Net Assets
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$156,027,715
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Preferred Shares****
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35.27%
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Market Price
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$14.33
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NAV
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$16.05
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(Daily NAV is available on market quotation systems using the symbol
XMNPX)
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Distribution Rate
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$0.0625 per share
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Frequency
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Monthly (Declared quarterly, paid monthly)
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*
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Portfolio holdings and weightings are historical and are presented
here for informational purposes only. They are subject to change at
any time. Negative allocations and allocations in excess of 100%, if
any, are primarily due to the Fund's unsettled trade activity.
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**
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Credit quality is a measure of a bond issuer's ability to repay
interest and principal in a timely manner. The credit ratings
shown are based on each portfolio security's rating as provided by
Standard and Poor's, Moody's Investors Service and/or Fitch
Ratings, Ltd. and typically range from AAA (highest) to D
(lowest), or an equivalent and/or similar rating. For this
purpose, when two or more of the agencies have assigned differing
ratings to a security, the highest rating is used. Securities that
are unrated by all three agencies are reflected as such. The
credit quality of the investments in the Fund's portfolio does not
apply to the stability or safety of the Fund. These ratings are
updated monthly and may change over time. Please note, the Fund
itself has not been rated by an independent rating agency.
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***
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The difference between total assets and net assets, if any, is due
primarily to the Fund's use of preferred shares; net assets do not
include preferred shares. The Fund may employ leverage in the form
of preferred stock and/or other instruments. When the Fund engages
in transactions that have a leveraging effect on the Fund's
portfolio, the value of the Fund will be more volatile and all other
risks will tend to be compounded.
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****
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Percentages are based on total assets. If the Fund employs leverage,
the Effective Duration is based on net assets.
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Western Asset Municipal Partners Fund Inc., a 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
adviser.
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 risk. 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. The
Fund may invest in derivative instruments. Derivative instruments can be
illiquid, may disproportionately increase losses, and have a potentially
large impact on Fund performance.
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.
FN1112217
View source version on businesswire.com: https://www.businesswire.com/news/home/20180426006489/en/
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