Western Asset named two comanagers to Western Asset Managed Municipals on March 1, 2024: portfolio manager and head of investment-grade credit Ryan Brist and new co-CIO Michael Buchanan. At the same time, Western removed longtime comanager and current co-CIO Ken Leech from the fund. Longtime portfolio managers David Fare, John Mooney, and Robert Amodeo remain on the strategy. These changes don't impact the day-to-day management of the fund or its Above Average People and Process ratings. Western Asset named Buchanan as co-CIO alongside Ken Leech on Sept. 1, 2023. While there are no indications that Leech has imminent plans to retire, we view this as part of prudent succession planning rather than a significant shift in investment responsibilities. Buchanan, who had been the firm's deputy CIO since 2015, remains Western's head of global credit.
Western Asset Managed Municipals 1 SMMOX
- NAV / 1-Day Return 14.85 / +0.30 %
- Total Assets 3.1 Bil
-
Adj. Expense Ratio
- Expense Ratio 0.520%
- Distribution Fee Level Average
- Share Class Type No Load
- Category Muni National Long
- Credit Quality / Interest Rate Sensitivity Medium/Extensive
- Min. Initial Investment —
- Status Closed
- TTM Yield 3.50%
- Effective Duration 7.50 years
USD | NAV as of May 04, 2024 | 1-Day Return as of May 04, 2024, 1:01 AM GMT+0
Morningstar’s Analysis SMMOX
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People Pillar
Parent Pillar
- Current Portfolio Date
- Equity Holdings —
- Bond Holdings —
- Other Holdings —
- % Assets in Top 10 Holdings 8.9
Top 10 Holdings
|
% Portfolio Weight
|
Market Value USD
|
Sector
|
---|---|---|---|
PUERTO RICO COMWLTH AQUEDUCT & SWR AUTH REV 5% | 1.18 | 37.4 Mil | municipal |
KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4% | 1.11 | 35.0 Mil | municipal |
ILLINOIS ST 5% | 1.00 | 31.7 Mil | municipal |
TRIBOROUGH BRDG & TUNL AUTH NY REVS 5% | 0.97 | 30.8 Mil | municipal |
M-S-R ENERGY AUTH CALIF GAS REV 7% | 0.82 | 25.9 Mil | municipal |
METROPOLITAN PIER & EXPOSITION AUTH ILL REV 5% | 0.79 | 25.0 Mil | municipal |
PORT AUTH N Y & N J 5% | 0.79 | 25.0 Mil | municipal |
NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 5% | 0.79 | 25.0 Mil | municipal |
PENNSYLVANIA ECONOMIC DEV FING AUTH PRIVATE ACTIVITY REV 5.25% | 0.76 | 24.0 Mil | municipal |
NEW YORK TRANSN DEV CORP SPL FAC REV 5% | 0.71 | 22.3 Mil | municipal |