Western Asset Managed Municipals Fund Class C
SMMCX
NASDAQ- -
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
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Legg Mason & Co., Llc New York NY United States of America 10018
- IPO Date
- Nov 9, 1994
- CIK
- 0000764624
- Website
- franklintempleton.com
- Similar Companies
- Business
- Western Asset Managed Municipals Fund Class C (SMMCX) is an open-end mutual fund that seeks to maximize current monthly income exempt from regular federal income taxes through a portfolio focused primarily on intermediate- and long-term investment grade municipal securities; it employs sector rotation, issuer selection, and a value-oriented investment process led by Western Asset's team of municipal bond specialists. The fund invests predominantly in high-quality tax-exempt municipal bonds across sectors including transportation (22.55%), industrial revenue (17.85%), hospital/healthcare (11.09%), special tax (9.78%), and water & sewer (9.19%), with a weighted average life of 10.48 years, effective duration of 8.03 years, and 655 holdings as of October 31, 2025; it benchmarks performance against the Bloomberg Municipal Bond Index and distributes dividends monthly. Managed by Legg Mason Partners Fund Advisor, LLC and subadvised by Western Asset Management Company, LLC ("Western Asset"), an indirect wholly-owned subsidiary of Franklin Resources, Inc., the Class C shares feature a net expense ratio of 1.30%, a 1.00% deferred load, and a minimum initial investment of $1,000; total net assets stand at approximately $2.57 billion, with the fund domiciled in the United States and available for sale to U.S. investors. The share class launched on November 9, 1994, as part of the broader fund family with roots tracing to March 4, 1981. Recent major changes include portfolio management team updates effective March 1, 2024, with Michael Buchanan and Ryan Brist joining David Fare, Robert Amodeo, and John Mooney (who started March 31, 2023) for day-to-day oversight; these adjustments reflect ongoing enhancements to the seasoned team's structure amid Western Asset's global fixed income expertise. Amid challenges at Western Asset, including significant outflows exceeding $37 billion from its strategies in late 2024 due to an SEC probe into client account favoritism, Franklin Templeton announced the liquidation of certain Western Asset ETFs like WINC and WBND in May 2025, though SMMCX operations continue with resilient muni fundamentals and strong revenue collections noted in recent commentary.