Certain Closed-end Funds Advised by Franklin Templeton Fund Adviser, LLC Announce Retirement of Directors
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 20 2024
0mins
Source: Newsfilter
Board Changes Announced: The Boards of various funds managed by Franklin Templeton announced the retirements of Directors Daniel J. Cronin and Paolo M. Cucchi, reducing the number of Directors from ten to eight effective December 31, 2024. Hillary A. Sale and Peter Mason will take over as Chairs of the Nominating and Compensation Committees, respectively, starting January 1, 2025.
Investment Risk Disclaimer: The press release emphasizes that investments in the Funds are subject to risks, including potential loss of value, and shares may trade at a discount to their net asset value on the New York Stock Exchange.
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About SBI
Western Asset Intermediate Muni Fund Inc. (The Fund) is a closed-end management investment company. The Fund’s investment objective is to provide common shareholders a high level of current income exempts from regular federal income taxes consistent with prudent investing. Under normal market conditions, the Fund invests at least 80% of its total assets in municipal obligations. The Fund also maintains a dollar-weighted average effective maturity of between three and ten years. Under normal market conditions, the Fund will invest at least 80% of its total assets in debt securities that are, at the time of investment, rated investment grade by a nationally recognized statistical rating organization (NRSRO) or if unrated, of equivalent quality as determined by the investment manager. transportation, health care, power, education, housing, solid waste, leasing, short term investments, and others. The investment manager of the Fund is Legg Mason Partners Fund Advisor, LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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