Western Asset Variable Rate Strategic Fund Inc. Announces Financial Position as of December 31, 2014
February 26 2015 - 8:00AM
Business Wire
Western Asset Variable Rate Strategic Fund Inc. (NYSE:GFY) today
announced the financial position of the Fund as of December 31,
2014.
Current Q
Previous Q Prior Yr Q December 31, 2014
September 30, 2014 December 31, 2013 Total Assets (a)
$ 136,670,202 $ 142,418,872 $ 144,036,300 Total Net Assets (a) $
122,604,445 $ 125,694,991 $ 126,215,433 NAV Per Share of Common
Stock (b) $ 18.38 $ 18.85 $ 18.93 Market Price Per Share $ 16.65 $
17.08 $ 17.52 Premium / (Discount) (9.41)% (9.39)% (7.45)%
Outstanding Shares 6,669,153 6,669,153 6,669,153 Total Net
Investment Income (c) $ 1,156,784 $ 1,356,241 $ 1,241,981 Total Net
Realized/Unrealized Gain/(Loss) (c) $ (2,796,789) $ (1,300,307) $
1,663,610 Net Increase (Decrease) in Net Assets From Operations (c)
$ (1,640,005) $ 55,934 $ 2,905,591
Earnings per Common
Share Outstanding
Total Net Investment Income (c) $ 0.17 $ 0.20 $ 0.19 Total Net
Realized/Unrealized Gain/(Loss) (c) $ (0.42) $ (0.19) $ 0.25 Net
Increase (Decrease) in Net Assets From Operations (c) $ (0.25) $
0.01 $ 0.44 Undistributed/(Overdistributed) Net Investment
Income (d) $ 1,401,165 $ 1,694,922 $ 2,389,662
Undistributed/(Overdistributed) Net Investment Income Per Share (d)
$ 0.21 $ 0.25 $ 0.36 Reverse Repurchase Agreements (d) $
14,976,102 $ 15,251,657 $ 16,573,433 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 about the Fund, please call 1-888-777-0102
or consult the Fund’s web site at www.lmcef.com. Hard copies of the
Fund’s complete audited financial statements are available free of
charge upon request.
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.
Media:Western Asset Variable Rate Strategic Fund Inc.Maria
Rosati, 212-805-6036mrosati@leggmason.com.
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