Western Asset Inflation-Linked Income Fund (NYSE:WIA) Announces Shareholder Approval of New Management & Subadvisory Agreements
September 28 2020 - 8:00AM
Business Wire
Western Asset Inflation-Linked Income Fund (“WIA” or the “Fund”)
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
with the Fund’s manager and the new subadvisory agreements with the
Fund’s subadvisers. Approval of these new agreements was proposed
in connection with the consummated combination of Legg Mason Inc.
(“Legg Mason”), the parent company of the Fund’s manager and
subadvisers, and Franklin Resources, Inc. (“Franklin Resources”), a
global investment management organization operating as Franklin
Templeton (the “Transaction”), which resulted in the automatic
termination of the Fund’s current management and subadvisory
agreements. The Fund's manager and the subadvisers continued to
provide uninterrupted services with respect to the Fund pursuant to
interim management and subadvisory agreements that were approved by
the Fund’s Board of Trustees. The new management and subadvisory
agreements each became effective upon receipt of requisite approval
of the agreements by shareholders of the Fund at the Special
Meeting.
On July 31, 2020, Franklin Resources acquired Legg Mason in an
all-cash transaction. As a result of the Transaction, Western Asset
Management Company, LLC, the Fund’s manager, became an indirect,
wholly-owned subsidiary of Franklin Resources and the Fund’s
subadvisers, Western Asset Management Company Limited, Western
Asset Management Company Ltd. and Western Asset Management Company
Pte. Ltd., also became indirect wholly-owned subsidiaries of
Franklin Resources.
An investment in the 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 the 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 the Fund’s filings with the
Securities and Exchange Commission (the “SEC”).
The Fund files its semi-annual and annual reports with the SEC.
These reports are available on the SEC’s website at www.sec.gov.
For more information, please call Investor Relations:
1-888-777-0102, or consult the Fund’s website at www.lmcef.com. The
information contained on the Fund’s website is not part of this
press release. Hard copies of the Fund’s complete audited financial
statements are available free of charge upon request.
Category: Fund Announcement
Source: Franklin Resources, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20200928005324/en/
Media: Fund Investor Services-1-888-777-0102
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