Western Asset Variable Rate Strategic Fund Inc. Announces Financial Position as of December 31, 2018
NEW YORK–(BUSINESS WIRE)–Western Asset Variable Rate Strategic Fund Inc. (NYSE: GFY) today
announced the financial position of the Fund as of December 31, 2018.
| Current Q | Previous Q | Prior Yr Q | ||||||||||||||
| December 31, 2018 | September 30, 2018 | December 31, 2017 | ||||||||||||||
| Total Assets (a) | $ | 105,897,342 | $ | 109,482,506 | $ | 114,756,384 | ||||||||||
| Total Net Assets (a) | $ | 82,361,313 | $ | 84,932,265 | $ | 85,620,136 | ||||||||||
| NAV Per Share of Common Stock (b) | $ | 17.64 | $ | 18.19 | $ | 18.34 | ||||||||||
| Market Price Per Share | $ | 15.68 | $ | 16.40 | $ | 17.37 | ||||||||||
| Premium / (Discount) | (11.11 | )% | (9.84 | )% | (5.29 | )% | ||||||||||
| Outstanding Shares | 4,668,407 | 4,668,407 | 4,668,407 | |||||||||||||
| Total Net Investment Income (c) | $ | 966,885 | $ | 1,040,715 | $ | 1,110,544 | ||||||||||
| Total Net Realized/Unrealized Gain/(Loss) (c) | $ | (2,452,432 | ) | $ | (4,539 | ) | $ | 103,058 | ||||||||
| Net Increase (Decrease) in Net Assets From Operations (c) | $ | (1,485,547 | ) | $ | 1,036,176 | $ | 1,213,602 | |||||||||
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Earnings per Common Share Outstanding |
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| Total Net Investment Income (c) | $ | 0.21 | $ | 0.22 | $ | 0.24 | ||||||||||
| Total Net Realized/Unrealized Gain/(Loss) (c) | $ | (0.53 | ) | $ | (0.00 | ) | † | $ | 0.02 | |||||||
| Net Increase (Decrease) in Net Assets From Operations (c) | $ | (0.32 | ) | $ | 0.22 | $ | 0.26 | |||||||||
| Undistributed/(Overdistributed) Net Investment Income (d) | $ | (15,941 | ) | $ | 102,579 | $ | (289,071 | ) | ||||||||
| Undistributed/(Overdistributed) Net Investment Income | ||||||||||||||||
| Per Share (d) | $ | (0.00 | ) | † | $ | 0.02 | $ | (0.06 | ) | |||||||
| Reverse Repurchase Agreements (d) | $ | 22,192,624 | $ | 23,816,711 | $ | 26,848,323 | ||||||||||
| Footnotes: | ||||
| (a) |
The difference between total assets and total net assets is due primarily to the Fund’s use of borrowings; total net assets do not include borrowings. |
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| (b) |
NAVs are calculated as of the close of business on the last business day in the periods indicated above. |
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| (c) | For the quarter indicated. | |||
| (d) | As of the date indicated above. | |||
| † | Amount represents less than $0.01 per share. | |||
This financial data is unaudited.
The Fund files its semi-annual and annual reports
with the Securities and Exchange Commission, as well as its complete
schedule of portfolio holdings for the first and third quarters of each
fiscal year on Form N-Q. These reports are
available on the Commission’s website at www.sec.gov.
To obtain information on Form N-Q or a semi-annual or annual report from
the Fund, shareholders can call 1-888-777-0102.
Western Asset Variable Rate Strategic Fund Inc., a non-diversified
closed-end investment management company, is managed by Legg Mason
Partners Fund Advisor, LLC, a wholly-owned subsidiary of Legg Mason,
Inc. and is sub-advised by Western Asset Management Company and Western
Asset Management Company Limited, affiliates of the investment manager.
For more information about the Fund, please call 1-888-777-0102 or
consult the Fund’s web site at www.lmcef.com.
Hard copies of the Fund’s complete audited financial statements are
available free of charge upon request.
Data and commentary provided in this press release are for informational
purposes only. Legg Mason and its affiliates do not engage in selling
shares of the Fund.
Contacts
Western Asset Variable Rate Strategic Fund Inc.
Fund Investor
Services 1-888-777-0102