Western Asset Managed Municipals Fund Inc. Reports Unaudited Earnings Results for the Quarter Ended February 28, 2017
April 12, 2017 at 01:00 pm
Share
Western Asset Managed Municipals Fund Inc. reported unaudited earnings results for the quarter ended February 28, 2017. For the quarter, the company reported total net investment income of USD 8,104,908 or USD 0.19 per share against USD 8,102,576 or USD 0.19 per share a year ago. Total net realized/unrealized gain was USD 5,682,310 or USD 0.13 per share against USD 7,975,460 or USD 0.19 per share a year ago. Net increase in net assets from operations was USD 13,276,241 or USD 0.31 per share against USD 15,839,390 or USD 0.37 per share a year ago. Net asset value per share on common stock as on February 28, 2017 was USD 13.74 per share against USD 14.44 as on February 29, 2016.
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.