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Western Asset Inflation-Linked Income Fund (NYSE:WIA) Announces Shareholder Approval of New Management and Subadvisory Agreements

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Western Asset Inflation-Linked Income Fund (WIA) announced that shareholders approved new management and subadvisory agreements at a Special Meeting. This decision follows the acquisition of Legg Mason Inc. by Franklin Resources, resulting in the automatic termination of previous agreements. The new agreements ensure uninterrupted management services, effective immediately. Franklin Resources acquired Legg Mason in an all-cash transaction on July 31, 2020, making Western Asset Management an indirect subsidiary. Investments in the Fund carry risks, including principal loss.

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  • Shareholders approved new management and subadvisory agreements, ensuring continuity of services.
  • The transition follows a significant acquisition, positioning the Fund under a well-established investment management organization.
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  • None.

NEW YORK--()--Western Asset Inflation-Linked Income Fund (“WIA” or the “Fund”) announced that, based on certified voting results from the Fund’s Special Meeting of Shareholders (the “Special Meeting”), shareholders have voted to approve the new management agreement with the Fund’s manager and the new subadvisory agreements with the Fund’s subadvisers. Approval of these new agreements was proposed in connection with the consummated combination of Legg Mason Inc. (“Legg Mason”), the parent company of the Fund’s manager and subadvisers, and Franklin Resources, Inc. (“Franklin Resources”), a global investment management organization operating as Franklin Templeton (the “Transaction”), which resulted in the automatic termination of the Fund’s current management and subadvisory agreements. The Fund's manager and the subadvisers continued to provide uninterrupted services with respect to the Fund pursuant to interim management and subadvisory agreements that were approved by the Fund’s Board of Trustees. The new management and subadvisory agreements each became effective upon receipt of requisite approval of the agreements by shareholders of the Fund at the Special Meeting.

On July 31, 2020, Franklin Resources acquired Legg Mason in an all-cash transaction. As a result of the Transaction, Western Asset Management Company, LLC, the Fund’s manager, became an indirect, wholly-owned subsidiary of Franklin Resources and the Fund’s subadvisers, Western Asset Management Company Limited, Western Asset Management Company Ltd. and Western Asset Management Company Pte. Ltd., also became indirect wholly-owned subsidiaries of Franklin Resources.

An investment in the Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate.

Any data and commentary provided in this press release are for informational purposes only. This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the Fund’s current plans and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Additional information concerning such risks and uncertainties are contained in the Fund’s filings with the Securities and Exchange Commission (the “SEC”).

The Fund files its semi-annual and annual reports with the SEC. These reports are available on the SEC’s website at www.sec.gov. For more information, please call Investor Relations: 1-888-777-0102, or consult the Fund’s website at www.lmcef.com. The information contained on the Fund’s website is not part of this press release. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.

Category: Fund Announcement

Source: Franklin Resources, Inc.

Contacts

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

 

FAQ

What is the recent announcement made by Western Asset Inflation-Linked Income Fund (WIA)?

Western Asset Inflation-Linked Income Fund (WIA) announced that shareholders approved new management and subadvisory agreements at a Special Meeting.

What led to the approval of new management agreements for WIA?

The approval follows the acquisition of Legg Mason Inc. by Franklin Resources, which required the termination of previous management agreements.

When did Franklin Resources acquire Legg Mason?

Franklin Resources acquired Legg Mason in an all-cash transaction on July 31, 2020.

What are the risks associated with investing in the Fund WIA?

Investing in the Fund involves risks, including potential loss of principal and fluctuations in investment return and share value.

What happens to the management of WIA after the new agreements were approved?

The new management and subadvisory agreements ensure that the Fund will continue to receive uninterrupted management services.

Western Asset Inflation-Linked Income Fund

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