Franklin Templeton Fund Adviser, LLC Announces Distributions for Certain Closed-End Funds Pursuant to their Managed Distribution Policy for the Months of June, July and August 2024
Franklin Templeton Fund Adviser announced distributions for certain closed-end funds for June, July, and August 2024. Key funds include Western Asset Inflation-Linked Income Fund (WIA) and Western Asset Inflation-Linked Opportunities & Income Fund (WIW), with distributions per share set at $0.05000 and $0.06050 respectively. The distribution dates are set for 6/28/2024, 7/31/2024, and 8/30/2024. The managed distribution policy aims to maintain consistent distribution levels derived from income and capital gains. If necessary, long-term capital gains and return of capital will be used. The Board of Trustees may modify or suspend the policy, which could affect market prices. Sources of distributions are estimated and subject to change based on tax regulations.
- Consistent distributions through June to August 2024 provide stability for investors.
- Distribution amounts for WIA and WIW funds remain unchanged, ensuring predictability.
- Managed distribution policy aims to maintain consistent levels, supporting investor confidence.
- 100% of the distributions' estimated source is from income, indicating healthy fund performance.
- Modifications or suspension of managed distribution policy could adversely affect market prices.
- Estimates of distribution sources are not final and may change, leading to potential investor uncertainty.
- Shares of closed-end funds often trade at a discount to their net asset value, increasing risk of loss.
- Investment in these funds is subject to market risks, including loss of principal.
The following dates apply to the distribution schedule below:
Month |
Record Date |
Ex-Dividend Date |
Payable Date |
June |
6/21/2024 |
6/21/2024 |
6/28/2024 |
July |
7/24/2024 |
7/24/2024 |
7/31/2024 |
August |
8/23/2024 |
8/23/2024 |
8/30/2024 |
Ticker |
Fund Name |
Month |
Amount |
|
Change from Previous Distribution |
WIA |
Western Asset Inflation-Linked Income Fund(a) |
June |
|
- |
|
|
|
July |
|
|
|
|
|
August |
|
|
|
WIW |
Western Asset Inflation-Linked Opportunities |
June |
|
|
- |
|
& Income Fund(a) |
July |
|
|
|
|
|
August |
|
|
|
- Please see table below for each Fund’s estimated source of distributions.
Under the terms of each Fund’s managed distribution policy, each Fund seeks to maintain a consistent distribution level derived from the income and capital gains generated from the Fund’s investment portfolio. To the extent that sufficient distributable income is not available on a monthly basis, each Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund’s capital loss carryovers from prior years. The Board of Trustees may modify, terminate or suspend the managed distribution policy at any time. Any such modification, termination or suspension could have an adverse effect on the market price of the Fund’s shares.
Based on the Funds’ tax accounting records, which also factor in currency fluctuations, each Fund’s estimated source of cumulative fiscal year-to-date distributions is presented in the table below:
Fund |
Fiscal Year End |
|
Income |
|
Short-Term Capital Gains |
|
Long-Term Capital Gains |
|
Return of Capital |
|
WIA |
Nov 30 |
|
|
|
- |
|
- |
|
- |
(a) |
WIW |
Nov 30 |
|
|
|
- |
|
- |
|
- |
(a) |
- Sources of cumulative fiscal year-to-date distributions are estimated through August 31, 2024.
The updated estimated components of the distributions announced today will be provided to shareholders of record in a separate notice when the distributions are paid.
Shareholders should not draw any conclusions about each Fund’s investment performance from the amount of these distributions or from the terms of each Fund’s managed distribution policy. The amounts and sources of each Fund’s distributions to be reported will be estimates and will not be provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. Each Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund’s distributions for federal income tax purposes.
Franklin Templeton Fund Adviser, LLC (formerly known as Legg Mason Partners Fund Advisor, LLC) is an indirect,
wholly-owned subsidiary of Franklin Resources, Inc. (“Franklin Resources”).
For more information about the Funds, please call 1-888-777-0102 or consult the Funds’ website at www.franklintempleton.com/investments/options/closed-end-funds. Hard copies of the Funds’ complete audited financial statements are available free of charge upon request.
Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Funds.
The Funds’ common shares are traded on the New York Stock Exchange. Similar to stocks, Fund share price will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value, and can increase an investor’s risk of loss. All investments are subject to risk, including the risk of loss.
INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
Category: Distribution Related
Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Funds
View source version on businesswire.com: https://www.businesswire.com/news/home/20240522093772/en/
Investor Contact: Fund Investor Services 1-888-777-0102
Source: Franklin Resources, Inc. and Legg Mason Closed End Funds
FAQ
What are the distribution dates for Franklin Templeton's closed-end funds in June, July, and August 2024?
How much is the distribution per share for the Western Asset Inflation-Linked Income Fund (WIA) in 2024?
What is the distribution amount for the Western Asset Inflation-Linked Opportunities & Income Fund (WIW) for the months of June to August 2024?
Under what conditions might the managed distribution policy be modified or suspended?
What are the estimated sources of distributions for WIA and WIW funds for the fiscal year ending November 30, 2024?
