Franklin Templeton Investments

Western Asset Global High Income Fund Inc. Announces Additional Tender Offer Details

Friday, August 14, 2020 - 1:00pm

Western Asset Global High Income Fund Inc. (NYSE: EHI) (the Fund) announced today additional details concerning its previously announced cash tender offer for up to 50% of the Funds outstanding shares of common stock (the Shares) at a price per Share equal to 99.5% of the Funds net asset value per Share as of the business day immediately following the expiration date of the tender offer (the Offer).

Key Points: 
  • Western Asset Global High Income Fund Inc. (NYSE: EHI) (the Fund) announced today additional details concerning its previously announced cash tender offer for up to 50% of the Funds outstanding shares of common stock (the Shares) at a price per Share equal to 99.5% of the Funds net asset value per Share as of the business day immediately following the expiration date of the tender offer (the Offer).
  • The Fund will repurchase Shares tendered and accepted in the Offer in exchange for cash.
  • The Fund will file the tender offer documentation with the U.S. Securities and Exchange Commission (SEC).
  • Western Asset Global High Income Fund Inc., a non-diversified, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Franklin Resources, Inc., and is sub-advised by Western Asset Management Company, LLC, Western Asset Management Company Limited and Western Asset Management Company Pte.

Western Asset High Income Opportunity Fund Inc. Announces Additional Tender Offer Details

Friday, August 14, 2020 - 1:00pm

Western Asset High Income Opportunity Fund Inc. (NYSE: HIO) (the Fund) announced today additional details concerning its previously announced cash tender offer for up to 25% of the Funds outstanding shares of common stock (the Shares) at a price per Share equal to 99.5% of the Funds net asset value per Share as of the business day immediately following the expiration date of the tender offer (the Offer).

Key Points: 
  • Western Asset High Income Opportunity Fund Inc. (NYSE: HIO) (the Fund) announced today additional details concerning its previously announced cash tender offer for up to 25% of the Funds outstanding shares of common stock (the Shares) at a price per Share equal to 99.5% of the Funds net asset value per Share as of the business day immediately following the expiration date of the tender offer (the Offer).
  • The Fund will repurchase Shares tendered and accepted in the Offer in exchange for cash.
  • The Fund will file the tender offer documentation with the U.S. Securities and Exchange Commission (SEC).
  • Western Asset High Income Opportunity Fund Inc., a diversified, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Franklin Resources, Inc., and is sub-advised by Western Asset Management Company, LLC and Western Asset Management Company Limited, affiliates of the investment manager.

Closed-End Funds Advised by Legg Mason Partners Fund Advisor, LLC Announce Election To Opt In to Maryland Control Share Acquisition Act

Friday, August 14, 2020 - 1:00pm

Each of the Funds announced today that it has elected, by resolution unanimously adopted by the board of directors of the Fund, to be subject to the Maryland Control Share Acquisition Act (the MCSAA), effective immediately.

Key Points: 
  • Each of the Funds announced today that it has elected, by resolution unanimously adopted by the board of directors of the Fund, to be subject to the Maryland Control Share Acquisition Act (the MCSAA), effective immediately.
  • The above description of the MCSAA is only a high-level summary and does not purport to be complete.
  • Additional information concerning such risks and uncertainties are contained in each Funds filings with the SEC.
  • Franklin Resources and its affiliates do not engage in selling shares of the Funds.

Western Asset Middle Market Income Fund Inc. (XWMFX) Announces Tender Offer

Friday, August 14, 2020 - 1:00pm

The tender offer will be conducted at a price equal to the Funds net asset value per share of common stock on the day on which the tender offer expires.

Key Points: 
  • The tender offer will be conducted at a price equal to the Funds net asset value per share of common stock on the day on which the tender offer expires.
  • The Fund intends to commence its tender offer on or about September 3, 2020, with the expiration of the tender offer currently expected to be October 2, 2020.
  • As soon as the tender offer commences, the Fund will file a tender offer statement on Schedule TO with the SEC, which will include an Offer to Purchase and related Letter of Transmittal.
  • As a result of the transaction, Western Asset Middle Market Income Fund Inc. (XWMFX), a non-diversified, closed-end management investment company investment manager, managed by Legg Mason Partners Fund Advisor, LLC (LMPFA) became an indirect, wholly owned subsidiary of Franklin Resources and its sub-adviser, Western Asset Management Company, LLC (Western Asset) became an indirect wholly-owned subsidiary of Franklin Resources.

Western Asset High Income Fund II Inc. Announces Additional Tender Offer Details

Friday, August 14, 2020 - 1:00pm

Western Asset High Income Fund II Inc. (NYSE: HIX) (the Fund) announced today additional details concerning its previously announced cash tender offer for up to 35% of the Funds outstanding shares of common stock (the Shares) at a price per Share equal to 99.5% of the Funds net asset value per Share as of the business day immediately following the expiration date of the tender offer (the Offer).

Key Points: 
  • Western Asset High Income Fund II Inc. (NYSE: HIX) (the Fund) announced today additional details concerning its previously announced cash tender offer for up to 35% of the Funds outstanding shares of common stock (the Shares) at a price per Share equal to 99.5% of the Funds net asset value per Share as of the business day immediately following the expiration date of the tender offer (the Offer).
  • The Fund will repurchase Shares tendered and accepted in the Offer in exchange for cash.
  • The Fund will file the tender offer documentation with the U.S. Securities and Exchange Commission (SEC).
  • Western Asset High Income Fund II Inc., a diversified, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Franklin Resources, Inc., and is sub-advised by Western Asset Management Company, LLC, Western Asset Management Company Limited and Western Asset Management Company Pte.

BrandywineGLOBAL – Global Income Opportunities Fund Inc. Announces Additional Tender Offer Details

Friday, August 14, 2020 - 1:00pm

BrandywineGLOBAL Global Income Opportunities Fund Inc. (NYSE: BWG) (the Fund) announced today additional details concerning its previously announced cash tender offer for up to 20% of the Funds outstanding shares of common stock (the Shares) at a price per Share equal to 99.5% of the Funds net asset value per Share as of the business day immediately following the expiration date of the tender offer (the Offer).

Key Points: 
  • BrandywineGLOBAL Global Income Opportunities Fund Inc. (NYSE: BWG) (the Fund) announced today additional details concerning its previously announced cash tender offer for up to 20% of the Funds outstanding shares of common stock (the Shares) at a price per Share equal to 99.5% of the Funds net asset value per Share as of the business day immediately following the expiration date of the tender offer (the Offer).
  • The Fund will repurchase Shares tendered and accepted in the Offer in exchange for cash.
  • This announcement is not a recommendation, an offer to purchase or a solicitation of an offer to purchase shares of the Fund and the statements in this press release are not intended to constitute an offer to participate in any tender offer.
  • BrandywineGLOBAL Global Income Opportunities Fund Inc., a non-diversified, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Franklin Resources, Inc., and is sub-advised by Brandywine Global Investment Management, LLC, an affiliate of the investment manager.

Legg Mason Partners Fund Advisor, LLC Announces Distributions for the Month of August 2020

Friday, August 14, 2020 - 1:00pm

The distributions may be treated as dividend income, return of capital or a combination thereof for tax purposes.

Key Points: 
  • The distributions may be treated as dividend income, return of capital or a combination thereof for tax purposes.
  • Each Fund completed a 1-for-5 reverse stock split on July 28, 2020 for common stockholders of record as of the close of business on July 27, 2020.
  • On July 31, 2020, Franklin Resources, Inc. (Franklin Resources) acquired Legg Mason, Inc. (Legg Mason) in an all-cash transaction.
  • As a result of the transaction, Legg Mason Partners Fund Advisor, LLC, previously a wholly owned-subsidiary of Legg Mason, became a wholly-owned subsidiary of Franklin Resources.

Franklin Resources, Inc. Announces Month-End Assets Under Management

Tuesday, August 11, 2020 - 9:45pm

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries.

Key Points: 
  • Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries.
  • Franklin Templetons mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions.
  • Statements in this press release regarding Franklin Resources, Inc. and its subsidiaries, which are not historical facts, are forward-looking statements within the meaning of the U.S.
  • The amount and mix of our assets under management (AUM) are subject to significant fluctuations.

Cathy Carilli, CFA® Joins Fiduciary Trust International’s New York Office as Senior Portfolio Manager

Tuesday, August 11, 2020 - 2:30pm

Fiduciary Trust International, a global wealth manager and wholly-owned subsidiary of Franklin Templeton, continues to grow its New York office, welcoming Cathy Carilli, CFA as senior portfolio manager.

Key Points: 
  • Fiduciary Trust International, a global wealth manager and wholly-owned subsidiary of Franklin Templeton, continues to grow its New York office, welcoming Cathy Carilli, CFA as senior portfolio manager.
  • Ms. Carilli joins Fiduciary Trust International from U.S. Trust, Bank of America Wealth Management, where she worked for 24 years, most recently as managing director and senior portfolio manager.
  • In March 2020 , Fiduciary Trust International added Kevin G. Carter, CFP as a New York-based senior portfolio manager.
  • In June 2018 , Fiduciary Trust International announced that Isaac Barrocas and Nita S. Vyas came aboard as senior portfolio manager and trust counsel, respectively, based in the New York office.

ClearBridge MLP and Midstream Total Return Fund Inc. Announces Unaudited Balance Sheet Information as of July 31, 2020

Friday, August 7, 2020 - 1:00pm

As a result of the reverse stock split, every five outstanding shares of common stock were automatically converted into one share of common stock.

Key Points: 
  • As a result of the reverse stock split, every five outstanding shares of common stock were automatically converted into one share of common stock.
  • ClearBridge MLP and Midstream Total Return Fund Inc. is a non-diversified, closed-end management investment company, which is advised by Legg Mason Partners Fund Advisor, LLC (LMPFA) and subadvised by ClearBridge Investments, LLC (ClearBridge).
  • To obtain information on Form N-PORT or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102.
  • Franklin Resources and its affiliates do not engage in selling shares of the Fund.