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Western Asset Intermediate-Term Muni IS SMLSX Fund Analysis

Morningstar Medalist Rating
| Medalist Rating as of | See Franklin Templeton Investment Hub

Morningstar’s Analysis SMLSX

Will SMLSX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable SMLSX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the SMLSX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of SMLSX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Management Swap at Western Asset Intermediate-Term Municipal; Ratings Unchanged

null Elizabeth Foos

Elizabeth Foos

Analyst Note

Western Asset named two comanagers to Western Asset Intermediate-Term Municipal 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 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.

by Elizabeth Foos
Published on

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