Western Asset Municipal Partners Fund Inc. Portfolio Composition as of September 30, 2017
November 07 2017 - 5:11PM
Business Wire
Western Asset Municipal Partners Fund Inc. (NYSE:MNP) announces
its portfolio composition as of September 30, 2017.
Investment Objective: The Fund’s primary investment
objective is to seek a high level of current income which is exempt
from regular federal income taxes, consistent with the preservation
of capital. As a secondary investment objective, the Fund intends
to enhance portfolio value by purchasing tax-exempt securities
that, in the opinion of the investment manager, may appreciate in
value relative to other similar obligations in the marketplace.
Portfolio
Composition*:
Asset
Allocation
Municipal
98.3%
Variable Rate Demand Notes
1.7%
Top Ten Municipal
Sectors
Transportation
21.2% Industrial Revenue 15.5% Health Care 12.0% Pre Refunded/
Escrowed to Maturity 10.6% Water & Sewer 10.1% Lease Backed
7.4% Education 7.0% Local 4.8% Special Tax Obligation 4.7% State
2.8%
Credit Quality
Allocation**
AAA 4.9% AA 41.1% A 34.9% BBB 15.2% BB 2.4% CCC 0.3% Not Rated 1.1%
Call
Statistics
Not Callable 15.4% 2017 2.7% 2018 4.3% 2019 3.8% 2020 11.9% 2021
10.6% 2022 12.1% 2023 9.3% 2024 4.2% 2025 11.4% 2026 5.9% 2027 7.8%
2028 0.8%
Average Life (years)
8.5
Effective Duration (years)
9.9
Average Coupon (%)
5.0
Subject to AMT (%)
9.9
Portfolio Statistics:
Inception Date
January 29, 1993
Inception Price
$15.00
Total Assets***
$245,371,599
Net Assets
$160,371,599
Preferred Shares****
34.64%
Market Price
$15.48
NAV
$16.50 (Daily NAV is available on market quotation systems using
the symbol XMNPX)
Distribution Rate
$0.0675 per share
Frequency
Monthly (Declared quarterly, paid
monthly)
* Portfolio holdings and weightings are
historical and are presented here for informational purposes only.
They are subject to change at any time. Negative allocations and
allocations in excess of 100%, if any, are primarily due to the
Fund's unsettled trade activity. **
Credit quality is a measure of a bond
issuer's ability to repay interest and principal in a timely
manner. The credit ratings shown are based on each portfolio
security’s rating as provided by Standard and Poor’s, Moody’s
Investors Service and/or Fitch Ratings, Ltd. and typically range
from AAA (highest) to D (lowest), or an equivalent and/or similar
rating. For this purpose, when two or more of the agencies have
assigned differing ratings to a security, the highest rating is
used. Securities that are unrated by all three agencies are
reflected as such. The credit quality of the investments in the
Fund's portfolio does not apply to the stability or safety of the
Fund. These ratings are updated monthly and may change over time.
Please note, the Fund itself has not been rated by an
independent rating agency.
*** The difference between total assets and net assets, if any, is
due primarily to the Fund’s use of preferred shares; net assets do
not include preferred shares. The Fund may employ leverage in the
form of preferred stock and/or other instruments. When the Fund
engages in transactions that have a leveraging effect on the Fund’s
portfolio, the value of the Fund will be more volatile and all
other risks will tend to be compounded. **** Percentages are based
on total assets. If the Fund employs leverage, the Effective
Duration is based on net assets.
Western Asset Municipal Partners Fund Inc., a diversified
closed-end investment management company, is advised by Legg Mason
Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg
Mason, Inc. and is sub-advised by Western Asset Management Company,
an affiliate of the adviser.
An investment in the Fund involves risk, including loss of
principal. Investment return and the value of shares will
fluctuate. Fixed income securities are subject to credit risk,
inflation risk, call risk, and interest rate risk. As interest
rates rise, bond prices fall, reducing the value of the Fund's
share price. Certain investors may be subject to the alternative
minimum tax (AMT). State and local taxes may apply. The Fund may
invest in derivative instruments. Derivative instruments can be
illiquid, may disproportionately increase losses, and have a
potentially large impact on Fund performance.
Data and commentary provided in this press release are for
informational purposes only. Legg Mason and its affiliates do not
engage in selling shares of the Fund.
For more information, please call Fund Investor Services at
1-888-777-0102, or consult the Fund’s web site at
http://www.lmcef.com. Hard copies of the Fund’s complete audited
financial statements are available free of charge upon request.
FN1112217
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version on businesswire.com: http://www.businesswire.com/news/home/20171107006825/en/
For Western Asset Municipal Partners Fund Inc.Maria
Rosati, 1-212-805-6036mrosati@leggmason.com
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