Western Asset Managed Municipals Fund Inc. Reports Earnings Results for the Quarter Ended February 28, 2019
April 29, 2019 at 06:00 pm IST
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Western Asset Managed Municipals Fund Inc. reported earnings results for the quarter ended February 28, 2019. For the quarter, the company reported total Net Investment Income of $7,822,193 as compared to $7,621,009 for the same period last year. Total Net Investment Income per common share was $0.18 as compared to $0.18 for the same period last year.
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.