Western Asset Emerging Markets Debt Fund Inc. (NYSE: EMD) Announces Portfolio Management Team Update

Rhea-AI Summary

The Western Asset Emerging Markets Debt Fund (NYSE: EMD) has updated its portfolio management team, effective June 3, 2024. The new team will include Michael Buchanan, Gordon Brown, Mark Hughes, and Kevin Ritter. Chia-Liang (CL) Lian will step down as a portfolio manager on the same date. This change aims to enhance the fund's performance and ensure effective management. The fund's shares are traded on the New York Stock Exchange and are susceptible to market fluctuations, potentially trading at a discount to net asset value, which can increase investment risk.

Positive

• Effective June 3, 2024, the fund’s portfolio management team will include experienced managers: Michael Buchanan, Gordon Brown, Mark Hughes, and Kevin Ritter.
• The fund aims to enhance performance with the new management team.
• The shares of the fund are actively traded on the New York Stock Exchange.

Negative

• Chia-Liang (CL) Lian will no longer be part of the management team, which may raise concerns about continuity.
• Shares of the fund often trade at a discount to their net asset value, increasing the risk of loss for investors.
• Market fluctuations may lead to shares being worth less than the original investment at the time of sale.

NEW YORK--(BUSINESS WIRE)-- Effective June 3, 2024, the named portfolio management team responsible for the day-to-day oversight of the Fund is as follows:

• Michael Buchanan
• Gordon Brown
• Mark Hughes
• Kevin Ritter

Also as of June 3, 2024, Chia-Liang (CL) Lian is no longer a portfolio manager of the Fund.

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 Fund.

For more information about the Fund, please call Fund Investor Services: 1-888-777-0102, or consult the Fund’s web site at www.franklintempleton.com/investments/options/closed-end-funds. The information contained on the Fund’s web site is not part of this press release. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.

The Fund’s shares are traded on the New York Stock Exchange. Similar to stocks, Fund share prices 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.

About Western Asset

Western Asset is one of the world’s leading fixed-income managers with 50 years of experience and $385.4 billion in assets under management (AUM) as of March 31, 2024. With a focus on long-term fundamental value investing that employs a top-down and bottom-up approach, the firm has nine offices around the globe and deep experience across the range of fixed income sectors. Founded in 1971, Western Asset has been recognized for delivering superior levels of client service alongside its approach emphasizing team management and intensive proprietary research, supported by robust risk management. To learn more about Western Asset, please visit www.westernasset.com. Western Asset is an independent specialist investment manager of Franklin Templeton.

About Franklin Templeton

Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and over $1.6 trillion in assets under management as of April 30, 2024. For more information, please visit franklintempleton.com and follow us on LinkedIn, Twitter and Facebook.

Category: Fund Announcement

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

View source version on businesswire.com: https://www.businesswire.com/news/home/20240603798646/en/

Investor Contact: Fund Investor Services 1-888-777-0102

Media Contact: Lisa Tibbitts

+1 (904) 942-4451

Lisa.Tibbitts@franklintempleton.com

Source: Franklin Resources, Inc. and Legg Mason Closed End Funds

FAQ

Who will be the new portfolio managers for Western Asset Emerging Markets Debt Fund (NYSE: EMD) beginning June 2024?

The new portfolio managers will be Michael Buchanan, Gordon Brown, Mark Hughes, and Kevin Ritter.

When will Chia-Liang (CL) Lian step down from Western Asset Emerging Markets Debt Fund (NYSE: EMD)?

Chia-Liang (CL) Lian will step down as a portfolio manager on June 3, 2024.

What are the risks associated with investing in Western Asset Emerging Markets Debt Fund (NYSE: EMD)?

The fund's shares may trade at a discount to their net asset value, and market fluctuations can result in shares being worth less than the original investment.

Where can I find more information about Western Asset Emerging Markets Debt Fund (NYSE: EMD)?

You can find more information by visiting the Fund's website at www.franklintempleton.com/investments/options/closed-end-funds or by calling Fund Investor Services at 1-888-777-0102.