Western Asset Managed Municipals Fund Inc. Portfolio Composition as of December 31, 2016

NEW YORK--()--Western Asset Managed Municipals Fund Inc. (NYSE:MMU) announces its portfolio composition as of December 31, 2016.

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

99.6%

Variable Rate Demand Notes

0.4%

 

Top Ten Municipal Sectors

Pre refunded / Escrowed to Maturity 26.2%
Transportation 21.6%
Industrial Revenue 15.0%
Water & Sewer 8.6%
Education 7.6%
Health Care 7.3%
Lease Backed 4.1%
Special Tax Obligation 3.4%
Power 3.2%
Housing 1.4%
 

Credit Quality Allocation**

AAA 5.6%
AA 31.0%
A 37.4%
BBB 19.7%
BB 2.1%
B 0.5%
Not Rated 3.7%
 

Call Statistics

Not Callable 13.6%
2017 4.4%
2018 11.4%
2019 20.4%
2020 13.0%
2021 7.4%
2022 5.6%
2023 10.1%
2024 4.4%
2025 5.2%
2026 3.6%
2027 0.6%
2028 0.4%
 

Average Life (years)

9.9

Effective Duration (years)

8.8

Average Coupon (%)

5.3

Subject to AMT (%)

12.6
 

Portfolio Statistics:

 

Inception Date

June 26, 1992

Inception Price

$12.00

Total Assets***

$838,051,103

Net Assets

$588,401,103

Preferred Shares****

29.79%
 

Market Price

$13.72

NAV

$13.66
(Daily NAV is available on market quotation systems using the symbol XMMUX.)
 

Distribution Rate

$0.0630 per share

Frequency

Monthly (Declared quarterly, paid monthly)

*   Portfolio holdings and weightings are historical and are presented here for informational purposes only. They are subject to change at any time.
**

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.

*** 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.
**** Percentages are based on total assets. If the Fund employs leverage, the Effective Duration is based on net assets.

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

Contacts

Media:
Legg Mason
Maria Rosati, 1-212-805-6036
mrosati@leggmason.com

Contacts

Media:
Legg Mason
Maria Rosati, 1-212-805-6036
mrosati@leggmason.com