LMP Capital and Income Fund Inc. (NYSE: SCD) Announces Portfolio Management Team Update

Rhea-AI Summary

Effective June 3, 2024, LMP Capital and Income Fund (NYSE: SCD) will have a new portfolio management team overseeing its day-to-day operations. The team includes Peter Vanderlee, Patrick McElroy, Tatiana Thibodeau Eades from ClearBridge, and Michael Buchanan, Ryan Brist, Christopher Kilpatrick, and Mark Lindbloom from Western Asset. Chia-Liang (CL) Lian will no longer serve as a portfolio manager for the Fund. Investors are reminded that shares of the Fund, traded on the NYSE, can fluctuate in value due to market conditions and may be worth more or less than the original investment.

Positive

• New portfolio management team announced, potentially bringing fresh perspectives and strategies.
• Experienced managers from ClearBridge and Western Asset appointed, suggesting strong expertise.
• Change effective June 3, 2024, allowing time for a smooth transition.

Negative

• Chia-Liang (CL) Lian is no longer a portfolio manager, which could lead to uncertainty among investors.
• Shares of the Fund may trade at a discount to their net asset value, increasing risk of loss.
• Market conditions can cause Fund share prices to fluctuate, leading to potential investment losses.

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:

• ClearBridge
  • Peter Vanderlee
  • Patrick McElroy
  • Tatiana Thibodeau Eades
• Western Asset
  • Michael Buchanan
  • Ryan Brist
  • Christopher Kilpatrick
  • Mark Lindbloom

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/20240603129911/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 LMP Capital and Income Fund (NYSE: SCD) as of June 3, 2024?

The new portfolio managers will be Peter Vanderlee, Patrick McElroy, Tatiana Thibodeau Eades from ClearBridge, and Michael Buchanan, Ryan Brist, Christopher Kilpatrick, Mark Lindbloom from Western Asset.

What change is happening to the LMP Capital and Income Fund (NYSE: SCD) management team on June 3, 2024?

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

How might the change in portfolio managers affect LMP Capital and Income Fund (NYSE: SCD) investors?

The change could bring in fresh perspectives and strategies but may also create uncertainty among investors.

What are the risks associated with investing in LMP Capital and Income Fund (NYSE: SCD)?

Shares may trade at a discount to their net asset value, and market conditions can cause price fluctuations leading to potential investment losses.

When will the new portfolio management team for LMP Capital and Income Fund (NYSE: SCD) take effect?

The new team will take over effective June 3, 2024.