Closed-End Funds Advised by Legg Mason Partners Fund Advisor, LLC Announce Shareholder Approval of New Management & Subadviso...
June 08 2020 - 7:32AM
Business Wire
Clarion Partners Real Estate Income Fund
Inc. Class S Shares (CPRSX), Class T Shares (CPRTX), Class D Shares
(CPRDX) and Class I Shares (CPREX) Western Asset Emerging
Markets Debt Fund Inc. (NYSE: EMD), Western Asset
Intermediate Muni Fund Inc. (NYSE: SBI), (each, a “Fund”
and, together, the “Funds”)
Each of the Funds today announced that, based on certified
voting results from the Fund’s Special Meeting of Shareholders (the
“Special Meeting”), shareholders have voted to approve the new
management agreement for the Fund’s manager and the new subadvisory
agreement for the Fund’s subadviser(s). Approval of these new
agreements was proposed in connection with the pending combination
of Legg Mason Inc. (“Legg Mason”), the parent company of the Fund’s
investment manager and subadviser(s), and Franklin Resources, Inc.,
a global investment management organization operating as Franklin
Templeton (the “Transaction”), which will result in the automatic
termination of the Fund’s current management and subadvisory
agreements. The new management and subadvisory agreements will each
become effective upon the consummation of the Transaction.
An investment in a Fund involves risk, including loss of
principal. Investment return and the value of shares will
fluctuate.
Any data and commentary provided in this press release are for
informational purposes only. This press release may contain
statements regarding plans and expectations for the future that
constitute forward-looking statements within the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are
based on each Fund’s current plans and expectations, and are
subject to risks and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements. Additional information concerning such risks and
uncertainties are contained in each Fund’s filings with the
SEC.
Each Fund files its semi-annual and annual reports with the
Securities and Exchange Commission (the “Commission”). These
reports are available on the Commission’s website at www.sec.gov.
For more information, please call Investor Relations:
1-888-777-0102, or consult the Funds’ web site at www.lmcef.com.
Hard copies of the Funds’ complete audited financial statements are
available free of charge upon request.
Category: Fund Announcement
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Media Contact: Fund Investor Services-1-888-777-0102
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