Western Asset Intermediate Muni Fund Inc. (NYSE AMEX:SBI) as of
September 30, 2014.
Investment Objective: The Fund’s investment objective is to
provide common shareholders a high level of current income exempt from
regular Federal income taxes consistent with prudent investing.
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Portfolio Composition*:
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Asset Allocation
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Municipal
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96.1
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%
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Variable Rate Demand Notes
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3.9
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%
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Top Ten Municipal Sectors
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Power
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19.8
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%
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Industrial Revenue
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16.1
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%
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Transportation
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13.1
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%
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Health Care
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9.9
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%
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Lease Backed
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7.2
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%
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Local
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6.9
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%
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Special Tax Obligation
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6.4
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%
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Education
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6.4
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%
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Water & Sewer
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5.8
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%
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Pre refunded / Escrowed to Maturity
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2.2
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%
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Credit Quality Allocation**
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AAA
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3.2
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%
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AA
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35.4
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%
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A
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49.8
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%
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BBB
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7.5
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%
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BB
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2.0
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%
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B
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0.8
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%
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Not Rated
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1.2
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%
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Call Statistics
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Not Callable
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31.7
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%
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2014
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5.3
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%
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2015
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3.7
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%
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2016
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0.8
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%
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2017
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1.9
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%
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2018
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8.4
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%
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2019
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15.2
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%
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2020
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3.8
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%
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2021
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8.5
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%
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2022
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7.4
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%
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2023
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8.1
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%
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2024
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5.1
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%
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2025
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0.1
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%
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Average Life (years)
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6.4
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Effective Duration (years)
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5.0
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Average Coupon (%)
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4.9
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Subject to AMT (%)
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11.3
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Portfolio Statistics:
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Inception Date
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March 2, 1992
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Inception Price
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$
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10.00
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Total Assets***
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$
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197,686,473
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Net Assets
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$
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144,641,505
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Preferred Shares****
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25.29
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%
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Market Price
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$
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9.71
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NAV
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$
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10.28
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(Daily NAV is available on market quotation systems using the symbol
XSBIX.)
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Distribution Rate
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$0.0400 per share
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Frequency
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Monthly (Declared quarterly, paid monthly)
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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.
** 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 based on total assets.
Western Asset Intermediate Muni 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
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.
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 888-777-0102
or consult the Fund’s web site at http://www.lmcef.com.
Copyright Business Wire 2014