Western Asset Variable Rate Strategic Fund Inc. Announces Financial Position as of December 31, 2011
February 14 2012 - 5:00PM
Business Wire
Western Asset Variable Rate Strategic Fund Inc. (NYSE: GFY)
today announced the financial position of the Fund as of December
31, 2011.
Current Q Previous Q
Prior Yr Q December 31, 2011 September 30,
2011 December 31, 2010 Total Assets (a) $ 128,299,778 $
138,200,927 $ 116,674,137 Total Net Assets (a) $ 111,870,334 $
111,894,141 $ 116,348,120 NAV Per Share of Common Stock (b) $ 16.80
$ 16.80 $ 17.47 Market Price Per Share $ 14.85 $ 15.43 $ 16.99
Premium / (Discount) (11.61 )% (8.15 )% (2.75 )% Outstanding Shares
6,658,748 6,658,748 6,658,748 Total Net Investment Income
(c) $ 1,442,218 $ 1,504,960 $ 1,335,817 Total Net
Realized/Unrealized Gain/(Loss) (c) $ (194,204 ) $ (6,532,640 ) $
2,595,812 Net Increase (Decrease) in Net Assets From
Operations (c) $ 1,248,014 $ (5,027,680 ) $ 3,931,629
Earnings per Common
Share Outstanding
Total Net Investment Income (c) $ 0.22 $ 0.23 $ 0.20 Total Net
Realized/Unrealized Gain/(Loss) (c) $ (0.03 ) $ (0.98 ) $ 0.39
Net Increase (Decrease) in Net Assets From Operations (c) $
0.19 $ (0.75 ) $ 0.59
Undistributed/(Overdistributed) Net Investment Income (d) $
2,374,502 $ 2,204,105 $ 1,068,046
Undistributed/(Overdistributed) Net
Investment Income Per Share (d)
$ 0.36 $ 0.33 $ 0.16 Loan Outstanding (d) N/A N/A N/A
Preferred Shares Outstanding (d) N/A N/A N/A Reverse Repurchase
Agreements (d) $ 15,942,435 $ 19,925,321 N/A
Footnotes:
(a) The difference between total assets and total net assets
is due primarily to the Fund’s use of borrowings; total net assets
do not include borrowings. (b) NAVs are calculated as of the close
of business on the last business day in the periods indicated
above. (c) For the quarter indicated. (d) As of the date indicated
above.
This financial data is unaudited.
The Fund files its semi-annual and annual
reports with the Securities and Exchange Commission, as well as its
complete schedule of portfolio holdings for the first and third
quarters of each fiscal year on Form N-Q. These reports are available on the Commission’s website
at www.sec.gov. To obtain information
on Form N-Q or a semi-annual or annual report from the Fund,
shareholders can call 1-888-777-0102.
Western Asset Variable Rate Strategic Fund Inc., a
non-diversified closed-end investment management company, is
managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned
subsidiary of Legg Mason, Inc. and is sub-advised by Western Asset
Management Company and Western Asset Management Company Limited,
affiliates of the investment manager.
For more information, please call 1-888-777-0102 or consult the
Fund’s web site at www.leggmason.com/cef.
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.
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