Western Asset Managed Municipals Fund

Frequently Asked Questions About MMU

What does MMU invest in?

Western Asset Managed Municipals Fund Inc. is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed by Western Asset Management Company. It invests in the fixed income markets of the United States. The fund invests in securities that provide income exempt from federal income tax. It invests primarily in investment grade municipal securities. The fund employs intensive proprietary research to create its portfolio. It benchmarks the performance of its portfolio against the Barclays Capital Municipal Bond Index. The fund was formerly known as Managed Municipals Portfolio Inc. Western Asset Managed Municipals Fund Inc. was formed on June 26, 1992 and is domiciled in the United States.

What is the expense ratio of MMU?

Western Asset Managed Municipals Fund (MMU) charges an expense ratio of 2.84%. This is the annual fee deducted from fund assets to cover management and operations.

What is MMU's dividend yield?

MMU's trailing-twelve-month yield is 6.42%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of MMU?

Effective duration measures MMU's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. MMU's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of MMU?

MMU's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of MMU?

Yield to maturity (YTM) is the total return you'd earn from MMU if every bond in the portfolio is held to maturity at the current price. MMU's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.