Western Asset Variable Rate Strategic Fund Inc. Announces Financial Position as of December 31, 2018
February 14 2019 - 8:30AM
Business Wire
Western Asset Variable Rate Strategic Fund Inc. (NYSE: GFY)
today announced the financial position of the Fund as of December
31, 2018.
Current Q Previous
Q Prior Yr Q December 31, 2018 September 30,
2018 December 31, 2017 Total Assets (a) $ 105,897,342 $
109,482,506 $ 114,756,384 Total Net Assets (a) $ 82,361,313 $
84,932,265 $ 85,620,136 NAV Per Share of Common Stock (b) $ 17.64 $
18.19 $ 18.34 Market Price Per Share $ 15.68 $ 16.40 $ 17.37
Premium / (Discount) (11.11 )% (9.84 )% (5.29 )% Outstanding Shares
4,668,407 4,668,407 4,668,407 Total Net Investment Income
(c) $ 966,885 $ 1,040,715 $ 1,110,544 Total Net Realized/Unrealized
Gain/(Loss) (c) $ (2,452,432 ) $ (4,539 ) $ 103,058 Net
Increase (Decrease) in Net Assets From Operations (c) $ (1,485,547
) $ 1,036,176 $ 1,213,602
Earnings per Common
Share Outstanding
Total Net Investment Income (c) $ 0.21 $ 0.22 $ 0.24 Total Net
Realized/Unrealized Gain/(Loss) (c) $ (0.53 ) $ (0.00 ) † $ 0.02
Net Increase (Decrease) in Net Assets From Operations (c) $
(0.32 ) $ 0.22 $ 0.26
Undistributed/(Overdistributed) Net Investment Income (d) $ (15,941
) $ 102,579 $ (289,071 ) Undistributed/(Overdistributed) Net
Investment Income Per Share (d) $ (0.00 ) † $ 0.02 $ (0.06 )
Reverse Repurchase Agreements (d) $ 22,192,624 $ 23,816,711 $
26,848,323 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.
† Amount represents less than $0.01 per share.
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.
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