Western Asset Municipal High Income Fund Inc. (NYSE: MHF) is a closed-end fixed income mutual fund that seeks high current income exempt from federal income taxes by investing primarily in intermediate- and long-term municipal debt securities issued by U.S. state and local governments, including territories, possessions, political subdivisions, agencies, and public authorities; the fund may invest in municipal obligations of any maturity and up to 100% of its assets in below-investment-grade securities, such as high-yield bonds, general obligation bonds, revenue bonds, pre-refunded bonds, insured securities, and variable-rate instruments. Launched on November 28, 1988, and managed by Legg Mason Partners Fund Advisor, LLC with co-management by Western Asset Management Company, the fund is headquartered at 620 Eighth Avenue, 47th Floor, New York, New York 10018, and benchmarks its performance against the Bloomberg Municipal Bond Index (successor to the Lehman Brothers Municipal Bond Index). The fund operates within the U.S. asset management industry, targeting income-focused investors seeking tax-advantaged yields from municipal securities rated across investment-grade and high-yield categories.
In recent developments, the fund announced its financial position as of July 31, 2025, reporting total net investment income of $1.36 million amid ongoing portfolio management; it continues routine SEC filings, including the NPORT-P monthly portfolio report on June 25, 2025, and N-CSRS certification, reflecting standard operational compliance with no reported major acquisitions, partnerships, funding rounds, or strategic shifts in the last 1-2 years. The fund maintains its focus on U.S. municipal markets without noted subsidiaries, parent reorganizations, or product launches beyond its core high-income strategy.