| [August 02, 2018] |
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Western Asset Managed Municipals Fund Inc. Portfolio Composition as of June 30, 2018
Western Asset Managed Municipals Fund Inc. (NYSE: MMU) announces its
portfolio composition as of June 30, 2018.
Investment Objective: The Fund seeks to maximize current income
exempt from federal income tax as is consistent with preservation of
principal.
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Portfolio Composition*:
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Asset Allocation
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Municipal
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100.0%
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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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19.5%
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Pre refunded / Escrowed to Maturity
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18.4%
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Water & Sewer
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9.4%
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Health Care
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6.7%
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Special Tax Obligation
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6.3%
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Education
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5.0%
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Power
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4.6%
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Lease Backed
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3.4%
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Local
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2.2%
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Credit Quality Allocation**
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AAA
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5.5%
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AA
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28.9%
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A
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39.2%
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BBB
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20.0%
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BB
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1.9%
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CCC
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0.5%
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Not Rated
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4.0%
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Call Statistics
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Not Callable
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13.3%
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2018
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3.1%
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2019
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14.7%
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2020
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12.8%
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2021
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7.3%
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2022
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5.7%
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2023
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10.9%
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2024
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5.7%
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2025
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5.5%
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2026
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4.7%
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2027
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11.2%
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2028
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5.1%
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Average Life (years)
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7.7
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Effective Duration (years)
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8.9
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Average Coupon (%)
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5.2
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Subject to AMT (News - Alert) (%)
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13.4
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Portfolio Statistics:
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Inception Date
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June 26, 1992
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Inception Price
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$12.00
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Total Assets***
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$832,565,771
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Net Assets
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$582,915,771
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Preferred Shares****
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29.99%
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Market Price
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$12.68
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NAV
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$13.47
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(Daily NAV is available on market quotation systems using the symbol
XMMUX.)
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Distribution Rate
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$0.0580 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.
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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 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.
FN1112216
View source version on businesswire.com: https://www.businesswire.com/news/home/20180802005977/en/
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