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Western Asset Managed Municipals 1 SMMOX

Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 14.81  /  −0.26 %
  • Total Assets 3.1 Bil
  • Adj. Expense Ratio
    0.520%
  • 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 3.45%
  • Effective Duration 7.61 years

USD | NAV as of Apr 17, 2024 | 1-Day Return as of Apr 17, 2024, 12:55 AM GMT+0

Morningstar’s Analysis SMMOX

Will SMMOX outperform in future?

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

Management Swap at Western Asset Managed Municipals; Ratings Unchanged

null Elizabeth Foos

Elizabeth Foos

Analyst Note

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.

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Portfolio Holdings SMMOX

  • Current Portfolio Date
  • Equity Holdings
  • Bond Holdings
  • Other Holdings
  • % Assets in Top 10 Holdings 10.1
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

JEFFERSON CNTY ALA SWR REV 7.9%

1.81 56.8 Mil
municipal

PUERTO RICO COMWLTH AQUEDUCT & SWR AUTH REV 5%

1.17 36.6 Mil
municipal

KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4%

1.11 34.6 Mil
municipal

ILLINOIS ST 5%

1.01 31.7 Mil
municipal

TRIBOROUGH BRDG & TUNL AUTH NY REVS 5%

0.98 30.8 Mil
municipal

M-S-R ENERGY AUTH CALIF GAS REV 7%

0.83 26.1 Mil
municipal

NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 5%

0.83 25.8 Mil
municipal

PORT AUTH N Y & N J 5%

0.80 24.9 Mil
municipal

METROPOLITAN PIER & EXPOSITION AUTH ILL REV 5%

0.79 24.9 Mil
municipal

PENNSYLVANIA ECONOMIC DEV FING AUTH PRIVATE ACTIVITY REV 5.25%

0.75 23.3 Mil
municipal