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SMMOX Western Asset Managed Municipals 1

  • Fund
  • SMMOX
  • Price as of: Aug 08, 2016
  • $16.97
  • - $0.00
  • - 0.00%
  • Category
  • National Munis

SMMOX - Profile

Vitals

  • YTD Return 2.0%
  • 3 Yr Annualized Return 6.3%
  • 5 Yr Annualized Return 6.0%
  • Net Assets $5.16 B
  • Holdings in Top 10 11.5%

52 WEEK LOW AND HIGH

$16.97
$16.52
$17.08

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.57%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 5.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of 2007-07-27

STANDARD (TAXABLE)

$0

IRA

N/A

Investment Themes

CATEGORY

National Munis
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Long

Distributions

  • YTD Total Return 2.0%
  • 3 Yr Annualized Total Return 6.3%
  • 5 Yr Annualized Total Return 6.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.86%
DIVIDENDS
  • Dividend Yield 0.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Western Asset Managed Municipals Fund
  • Fund Family Name Legg Mason
  • Inception Date Sep 12, 2000
  • Shares Outstanding N/A
  • Share Class Other
  • Currency USD
  • Domiciled Country United States
  • Manager David T. Fare

Fund Description

The fund normally invests at least 80% of its assets in municipal securities and other investments with similar economic characteristics, the interest on which is exempt from regular federal income tax but which may be subject to the federal alternative minimum tax. It normally invests in intermediate-term and long-term municipal securities that have remaining maturities from one to more than thirty years at the time of purchase.

SMMOX - Performance

Return Ranking - Trailing

Period SMMOX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 2.0% -2.5% 99.4% 29.43% 3
1 Yr 6.6% -5.8% 13.3% 26.89% 2
3 Yr 6.3% * -4.5% 9.4% 19.58% 1
5 Yr 6.0% * -0.5% 8.0% 11.62% 1
10 Yr 5.5% * -0.3% 5.9% 1.69% 1

* Annualized


Return Ranking - Calendar

Period SMMOX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.1% -10.9% 99.6% 56.63% 5
2014 N/A 4.5% 4.5% N/A N/A
2013 N/A -6.5% -6.5% N/A N/A
2012 N/A 1.5% 1.5% N/A N/A
2011 N/A 3.3% 3.3% N/A N/A

Total Return Ranking - Trailing

Period SMMOX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 2.0% -2.5% 99.4% 29.20% 2
1 Yr 6.6% -8.9% 13.3% 17.07% 1
3 Yr 6.3% * -5.4% 9.4% 15.42% 1
5 Yr 6.0% * -0.5% 8.0% 8.86% 1
10 Yr 5.5% * -0.3% 5.9% 1.27% 1

* Annualized


Total Return Ranking - Calendar

Period SMMOX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.1% -10.9% 99.6% 56.63% 5
2014 N/A 4.5% 4.5% N/A N/A
2013 N/A -6.5% -6.5% N/A N/A
2012 N/A 1.5% 1.5% N/A N/A
2011 N/A 3.3% 3.3% N/A N/A

NAV & Total Return History

SMMOX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

SMMOX Category Low Category High SMMOX % Rank Quintile
Net Assets 5.16 B 491 K 52.2 B 3.38% 1
Number of Holdings 564 1 5633 9.03% 2
Net Assets in Top 10 591 M -90.5 M 1.34 B 1.61% 1
Weighting of Top 10 11.5% 0.0% 100.0% 20.32% 3

Top 10 Holdings

  1. M-S-R Engy Auth 6.5% 1.74%
  2. Texas Mun Gas Acquisition & Su Sr 6.25% 1.46%
  3. Public Auth 6.5% 1.31%
  4. North Tex Twy Auth 0.02% 1.16%
  5. Atlanta Ga Wtr & Waste Wtr Rev Ref 6.25% 1.16%
  6. Jefferson Cnty Ala Swr Rev Swr Rev W 1.06%
  7. Harris Cnty Tex Indl Dev Corp Rev Bds 5% 0.95%
  8. Bay Area Toll Auth 5.125% 0.94%
  9. Massachusetts St Dev Fin Agy R Rev Bd 5% 0.86%
  10. Port Auth 5% 0.84%

Asset Allocation

Weighting Category Low Category High SMMOX % Rank Quintile
Bonds
99.41% 0.00% 202.21% 3.54% 1
Cash
0.59% -110.85% 100.00% 28.87% 5
Other
0.00% -2.77% 30.50% 6.45% 2
Convertible Bonds
0.00% 0.00% 4.07% 0.65% 1
Preferred Stocks
0.00% 0.00% 11.63% 1.13% 2
Stocks
0.00% 0.00% 1.71% 1.13% 2

Bond Sector Breakdown

Weighting Category Low Category High SMMOX % Rank Quintile
Municipal
99.41% 0.00% 146.16% 3.23% 1
Cash & Equivalents
0.59% -110.85% 100.00% 29.03% 5
Securitized
0.00% 0.00% 30.99% 2.26% 2
Corporate
0.00% 0.00% 33.65% 3.71% 2
Derivative
0.00% -0.52% 5.07% 0.48% 1
Government
0.00% -17.17% 117.34% 6.94% 2

Bond Geographic Breakdown

Weighting Category Low Category High SMMOX % Rank Quintile
US
99.41% 0.00% 202.21% 3.55% 1
Non US
0.00% 0.00% 24.05% 0.97% 1

SMMOX - Expenses

Operational Fees

SMMOX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.57% 0.09% 4.60% 20.45% 1
Management Fee 0.45% 0.00% 1.00% 2.25% 4
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.35% N/A N/A

Sales Fees

SMMOX Fees (% of AUM) Category Low Category High SMMOX Rank Quintile
Front Load N/A 0.50% 5.75% N/A N/A
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

SMMOX Fees (% of AUM) Category Low Category High SMMOX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

SMMOX Fees (% of AUM) Category Low Category High SMMOX Rank Quintile
Turnover 5.00% 0.00% 783.51% 17.23% 1

SMMOX - Distributions

Dividend Yield Analysis

SMMOX Category Low Category High SMMOX % Rank Quintile
Dividend Yield 0.7% 0.00% 2.86% 0.65% 1

Dividend Distribution Analysis

SMMOX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Quarterly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

SMMOX Category Low Category High SMMOX % Rank Quintile
Net Income Ratio 3.86% -0.70% 5.26% 5.80% 1

Capital Gain Distribution Analysis

SMMOX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

SMMOX - Managers

David T. Fare

Manager

Start Date

Dec 31, 2004

Tenure

11.59

Tenure Rank

5.7%

Fare is portfolio manger with Western Asset. Prior to joining the firm in 2005, he was with Citigroup Asset Management or one of its affiliates since 1989.


Robert E. Amodeo

Manager

Start Date

Feb 02, 2007

Tenure

9.5

Tenure Rank

7.5%

Amodeo is portfolio manger with Western Asset. Prior to joining the firm in 2005, he was a managing director and portfolio manger with Salomon Brothers Asset Management Inc. from 1992 to 2005. Amodeo holds the Chartered Financial Analyst designation.


S. Kenneth Leech

Manager

Start Date

Mar 31, 2014

Tenure

2.34

Tenure Rank

15.1%

Leech transitioned into a CIO Emeritus role in September 2008 and joined Western Asset as Chief Investment Officer in 1990. Prior to joining Western in 1990, he was a portfolio manager with Greenwich Capital Markets from 1988 to 1990; the First Boston Corporation from 1980 to 1988; and the National Bank of Detroit from 1977 to 1980. He has over 32 years of investment experience.


Tenure Analysis

Category Low

0.1

Category High

36.9

Category Average

7.39

Category Mode

1.6