Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE: GDO) Announces Portfolio Management Team Update

Rhea-AI Summary

Western Asset Global Corporate Defined Opportunity Fund (NYSE: GDO) has announced a change in its portfolio management team effective June 3, 2024. The new team will include Michael Buchanan, Christopher Kilpatrick, and Annabel Rudebeck. Chia-Liang (CL) Lian will no longer serve as a portfolio manager. The fund's shares trade on the NYSE and are subject to market fluctuations, often trading at a discount to their net asset value. Investors should be aware of the associated risks.

Positive

• New portfolio management team includes experienced professionals: Michael Buchanan, Christopher Kilpatrick, and Annabel Rudebeck.
• Effective date for the portfolio management change is clearly specified as June 3, 2024.

Negative

• Chia-Liang (CL) Lian will no longer be a portfolio manager, which may concern some investors.
• Shares of the fund are subject to market fluctuations and often trade at a discount to their net asset value, increasing the risk of loss for investors.

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
• Christopher Kilpatrick
• Annabel Rudebeck

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/20240603976898/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 are the new portfolio managers for GDO as of June 3, 2024?

The new portfolio managers are Michael Buchanan, Christopher Kilpatrick, and Annabel Rudebeck.

When will the portfolio management change for GDO take effect?

The change will take effect on June 3, 2024.

What is the stock symbol for Western Asset Global Corporate Defined Opportunity Fund?

The stock symbol is GDO.

What are the risks associated with investing in GDO?

The fund's shares are subject to market fluctuations and often trade at a discount to their net asset value, increasing the risk of loss.

Who will no longer be a portfolio manager of GDO as of June 3, 2024?

Chia-Liang (CL) Lian will no longer be a portfolio manager.