Western Asset Managed Municipals Fund
MMU
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Jane Elizabeth Trust
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- One Madison Avenue New York NY United States of America 10010
- IPO Date
- Jul 17, 1992
- CIK
- 0000886043
- Similar Companies
- Business
- Western Asset Managed Municipals Fund Inc. (NYSE: MMU) is a non-diversified, closed-end management investment company that seeks a high level of current income exempt from federal income tax while preserving capital. The fund invests primarily in a portfolio of investment-grade municipal obligations, including long-term municipal debt securities issued by state and local governments; transportation bonds (24.81% allocation); industrial revenue bonds (22.90%); special tax securities (10.73%); hospital/healthcare bonds (8.74%); leasing obligations (7.34%); water and sewer bonds (6.87%); and local general obligation bonds (5.69%), with a focus on fixed-income markets in the United States. It emphasizes team-based management, extensive credit research, and securities rated investment grade at purchase to maximize tax-exempt income. Founded on April 9, 1992, and headquartered at 620 Eighth Avenue, 47th Floor, New York, NY, the fund is advised by Franklin Templeton Fund Adviser, LLC (FTFA) and subadvised by Western Asset Management Company, LLC, both indirect wholly-owned subsidiaries of Franklin Resources, Inc. It trades on the New York Stock Exchange and targets investors seeking tax-exempt income through municipal securities, with total assets of approximately $872.7 million and net assets of $580.3 million as of August 31, 2025. In recent developments, the fund reported its financial position as of August 31, 2025, reflecting total net investment income of $7.6 million for the quarter, a net asset value per share of $10.62, and a market price discount of 6.87%; similar quarterly updates were issued for February 28, 2025, and May 31, 2025. It maintains outstanding variable rate demand preferred stock of $284.1 million and continues to distribute monthly dividends from investment income, such as $0.03 per share in the latest reported quarter. No major acquisitions, partnerships, or strategic shifts were announced in 2024 or 2025, with operations focused on ongoing portfolio management amid resilient municipal market fundamentals.