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Name

As of 12/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Western Asset Intermediate Maturity New York Municipals Fund

LMIIX | Fund

$8.13

$155 M

2.84%

$0.23

0.62%

Vitals

YTD Return

1.4%

1 yr return

1.6%

3 Yr Avg Return

-0.5%

5 Yr Avg Return

0.9%

Net Assets

$155 M

Holdings in Top 10

37.1%

52 WEEK LOW AND HIGH

$8.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.62%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 20.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Western Asset Intermediate Maturity New York Municipals Fund

LMIIX | Fund

$8.13

$155 M

2.84%

$0.23

0.62%

LMIIX - Profile

Distributions

  • YTD Total Return 1.4%
  • 3 Yr Annualized Total Return -0.5%
  • 5 Yr Annualized Total Return 0.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.99%
DIVIDENDS
  • Dividend Yield 2.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Western Asset Intermediate Maturity New York Municipals Fund
  • Fund Family Name
    FRANKLIN TEMPLETON
  • Inception Date
    Oct 14, 2008
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Fare

Fund Description

Under normal circumstances, the fund invests at least 80% of its assets in investment grade “New York municipal securities” or other investments with similar economic characteristics. New York municipal securities are securities the interest on which is exempt from regular federal income tax and New York State and New York City personal income taxes. The fund’s 80% policy may not be changed without a shareholder vote. Interest on New York municipal securities may be subject to the federal alternative minimum tax.
New York municipal securities include debt obligations issued by the State of New York and its political subdivisions, agencies and public authorities, certain other governmental issuers (such as Puerto Rico, the U.S. Virgin Islands and Guam) and other qualifying issuers. These securities include participation or other interests in municipal securities issued or backed by banks, insurance companies and other financial institutions.
Some municipal securities, such as general obligation issues, are backed by the issuer’s taxing authority, while other municipal securities, such as revenue issues, are backed only by revenues from certain facilities or other sources and not by the issuer itself.
The fund focuses on investment grade bonds (that is, securities rated in the Baa/BBB categories or above or, if unrated or deemed to be unrated by the subadviser, determined to be of comparable credit quality by the subadviser) but may invest up to 20% of its assets in below investment grade bonds (commonly known as “high yield” or “junk” bonds).
The fund may invest up to 20% of its assets in unrated securities that the subadviser determines to be equivalent to investment grade.
The fund may invest in securities of any maturity. The fund normally expects to maintain an average effective portfolio maturity of between three and ten years. The average effective portfolio maturity of the fund is a weighted average of all the maturities of the securities in the portfolio, computed by weighting each security’s effective maturity, as estimated by the subadviser, by the market value of the security, and any cash in the portfolio. For the purposes of determining the fund’s average effective maturity, a security’s maturity date will generally be deemed to be the next interest rate
reset date for an adjustable rate security or, if earlier, the date of the next demand feature such as a put feature, when the fund would be entitled to receive payment of principal and interest. The subadviser may also take into account estimated future prepayments on securities, such as mortgage-backed securities, with uncertain future cash flows and estimations of call features and similar features and options. These estimates may prove to be incorrect.
The fund may also invest in securities of other open‑end or closed‑end investment companies, including exchange-traded funds (“ETFs”), that invest primarily in municipal securities.
Instead of, and/or in addition to, investing directly in particular securities, the fund may use instruments such as derivatives, including options, futures contracts and inverse floating rate instruments issued in tender option bond transactions, and other synthetic instruments that are intended to provide economic exposure to the securities or the issuer or to be used as a hedging technique. The fund may use one or more types of these instruments without limit, subject to applicable regulatory requirements. These instruments are taken into account when determining compliance with the fund’s 80% policy. For additional information regarding derivatives, see “More on the fund’s investment strategies, investments and risks—Derivatives” in the Prospectus.
The fund may also engage in a variety of transactions using derivatives in order to change the investment characteristics of its portfolio (such as shortening or lengthening duration) and for other purposes. The fund may leverage its assets by investing proceeds received through tender option bond transactions, which is considered a form of borrowing. See “More on the fund’s investment strategies, investments and risks—Tender option bonds” in the Prospectus.
The fund is classified as “non‑diversified,” which means it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.
Read More

LMIIX - Performance

Return Ranking - Trailing

Period LMIIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -6.1% 36.1% 59.64%
1 Yr 1.6% -6.0% 38.2% 62.73%
3 Yr -0.5%* -11.5% 5.9% 32.79%
5 Yr 0.9%* -7.2% 1103.7% 31.60%
10 Yr 1.6%* -1.1% 248.9% 48.08%

* Annualized

Return Ranking - Calendar

Period LMIIX Return Category Return Low Category Return High Rank in Category (%)
2023 2.5% -1.4% 41.0% 60.61%
2022 -9.7% -39.7% 0.3% 32.83%
2021 1.1% -5.6% 6.9% 7.08%
2020 1.0% -2.6% 310.0% 80.11%
2019 3.0% 0.0% 26.0% 78.91%

Total Return Ranking - Trailing

Period LMIIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -6.1% 36.1% 59.64%
1 Yr 1.6% -6.0% 38.2% 62.73%
3 Yr -0.5%* -11.5% 5.9% 32.79%
5 Yr 0.9%* -7.2% 1103.7% 31.60%
10 Yr 1.6%* -1.1% 248.9% 48.08%

* Annualized

Total Return Ranking - Calendar

Period LMIIX Return Category Return Low Category Return High Rank in Category (%)
2023 5.5% -1.3% 41.0% 55.35%
2022 -7.6% -39.7% 1.1% 31.81%
2021 3.3% -4.8% 23761504.0% 12.65%
2020 3.1% -1.5% 17057.9% 72.41%
2019 6.0% 0.2% 3514.6% 64.87%

NAV & Total Return History

LMIIX - Holdings

Concentration Analysis

LMIIX Category Low Category High LMIIX % Rank
Net Assets 155 M 3.22 M 71.9 B 78.16%
Number of Holdings 100 4 13418 84.49%
Net Assets in Top 10 53.5 M -317 M 3.09 B 64.07%
Weighting of Top 10 37.09% 1.8% 100.3% 6.38%

Top 10 Holdings

  1. Port Authority of New York New Jersey 5.63%
  2. Port Authority of New York New Jersey 4.12%
  3. Nassau Health Care Corp 3.98%
  4. New York State Dormitory Authority 3.94%
  5. New York Transportation Development Corp 3.65%
  6. Metropolitan Transportation Authority 3.62%
  7. New York State Dormitory Authority 3.54%
  8. New York City Transitional Finance Authority Future Tax Secured Revenue 3.06%
  9. New York State Dormitory Authority 2.99%
  10. New York State Dormitory Authority 2.57%

Asset Allocation

Weighting Return Low Return High LMIIX % Rank
Bonds 		100.28% 0.00% 150.86% 18.72%
Stocks 		0.00% 0.00% 99.77% 29.19%
Preferred Stocks 		0.00% 0.00% 0.07% 18.47%
Convertible Bonds 		0.00% 0.00% 0.93% 17.80%
Cash 		0.00% -50.86% 44.62% 85.56%
Other 		-0.07% -3.69% 53.54% 96.78%

Bond Sector Breakdown

Weighting Return Low Return High LMIIX % Rank
Municipal 		99.71% 44.39% 100.00% 23.47%
Cash & Equivalents 		0.00% 0.00% 44.41% 65.21%
Securitized 		0.00% 0.00% 5.93% 19.08%
Corporate 		0.00% 0.00% 9.41% 32.10%
Government 		0.00% 0.00% 52.02% 24.68%
Derivative 		-0.07% -3.69% 53.54% 96.91%

Bond Geographic Breakdown

Weighting Return Low Return High LMIIX % Rank
US 		100.28% 0.00% 142.23% 17.93%
Non US 		0.00% 0.00% 23.89% 22.43%

LMIIX - Expenses

Operational Fees

LMIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.62% 0.01% 8.02% 64.92%
Management Fee 0.40% 0.00% 1.20% 39.13%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

LMIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

LMIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

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.

LMIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 20.00% 0.00% 283.00% 58.05%

LMIIX - Distributions

Dividend Yield Analysis

LMIIX Category Low Category High LMIIX % Rank
Dividend Yield 2.84% 0.00% 14.51% 56.98%

Dividend Distribution Analysis

LMIIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

LMIIX Category Low Category High LMIIX % Rank
Net Income Ratio 1.99% -0.53% 5.33% 48.20%

Capital Gain Distribution Analysis

LMIIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

LMIIX - Fund Manager Analysis

Managers

David Fare

Start Date

Tenure

Tenure Rank

Apr 30, 2004

18.1

18.1%

David T. Fare is a Portfolio Manager at Western Asset. He has been with Western Asset since 2005.

Robert Amodeo

Start Date

Tenure

Tenure Rank

Oct 30, 2006

15.59

15.6%

– Western Asset Management Company, LLC – Head of Municipals, 2005- – Salomon Brothers Asset Management – Analyst to Managing Director, Portfolio Manager, 1992-2005 – Salomon Brothers Inc. – Accountant to Analyst, 1988-1992 – The Bank of New York – Accountant, 1987-1988 – Columbia University, M.P.A., Advanced Management and Finance – Long Island University, B.S. – Chartered Financial Analyst

S. Leech

Start Date

Tenure

Tenure Rank

Mar 31, 2014

8.17

8.2%

– Western Asset Management Company, LLC – Chief Investment Officer, 1990– – Greenwich Capital Markets – Portfolio Manager, 1988–1990 – The First Boston Corporation – Fixed Income Manager, 1980–1988 – National Bank of Detroit – Portfolio Manager, 1977–1980 – The Wharton School, University of Pennsylvania, M.B.A., B.S., B.A., summa cum laude, 1972–1976

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58

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