Western Asset Intermediate Muni Fund Inc. Announces Financial Position as of August 31, 2025
MWN-AI** Summary
Western Asset Intermediate Muni Fund Inc. (NYSE: SBI) has disclosed its financial standing as of August 31, 2025, reflecting notable changes compared to previous quarters and the same period last year. As of the reporting date, the fund's total assets amounted to approximately $165.59 million, a decline from $171.41 million as of May 31, 2025, and down from $175.57 million year-over-year. Total net assets stood at $117.31 million, slightly lower than $117.62 million in the prior quarter and significantly down from $126.56 million in August 2024.
The net asset value (NAV) per share of Common Stock was reported at $8.33, marginally down from $8.35 in the previous quarter and significantly lower than $8.99 a year earlier. In the market, shares traded at $7.64, indicating an 8.28% discount from NAV, though this is an improvement compared to a 10.90% discount from the previous quarter.
The fund reported total net investment income of $1.33 million for the quarter, a slight decrease from $1.35 million in the previous quarter but consistent with $1.34 million from the same quarter in the prior year. The net increase in net assets from operations was reported at $1.46 million, a recovery from a significant loss of $4.41 million in the prior quarter.
Furthermore, the accumulative undistributed net investment income reached approximately $3.01 million as of August 31, yielding a negative per-share value of $(0.21). The fund’s operational results show a stable income but exhibit fluctuations in asset valuation.
Western Asset Intermediate Muni Fund Inc. continues to be managed by Franklin Templeton Fund Advisor, LLC, with Western Asset Management Company serving as the sub-advisor. The fund remains committed to its investors, as evidenced by their ongoing financial disclosures.
MWN-AI** Analysis
As of August 31, 2025, Western Asset Intermediate Muni Fund Inc. (NYSE: SBI) presents a challenging yet opportunistic scenario for investors in the municipal bond market. The Fund reported total assets of $165.59 million, down from $171.41 million in the previous quarter and significantly from $175.57 million a year prior. Total net assets have similarly decreased, reflecting a current $117.31 million compared to $126.56 million year-on-year.
The NAV per share stands at $8.33 with a market price of $7.64, highlighting a discount of 8.28%. This discount, while reflective of general market sentiment, presents a potential buying opportunity for value-focused investors. The broader implications of the current market conditions could lead to price recovery as interest rates stabilize.
Net investment income remains stable at approximately $1.33 million, albeit slightly down from prior quarters. A noteworthy contrast was the return to net gains this quarter of $427,470, after experiencing significant losses previously, indicating potential stabilization in the Fund’s performance. Earnings per common share revealed a more favorable outlook with $0.10 from operations.
Investors should closely monitor the status of the Fund's preferred dividends and the overall municipal credit landscape. With the ongoing challenges in the municipal bond market, including fluctuations in interest rates and economic pressures, the Fund’s inherent managed risks must be evaluated.
In summary, while declines in net assets and persistent discounts raise concerns, the Fund’s current performance metrics suggest it may be positioned for recovery. Strategic investors may find value in accumulating shares at these lower prices, particularly if market conditions shift favorably in the coming months.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Western Asset Intermediate Muni Fund Inc. (NYSE: SBI) today announced the financial position of the Fund as of August 31, 2025.
| Current Q | Previous Q | Prior Yr Q | |||||||||
| August 31, 2025 | May 31, 2025 | August 31, 2024 | |||||||||
| Total Assets (a) | $ | 165,586,312 | $ | 171,408,636 | $ | 175,573,564 | |||||
| Total Net Assets (a) | $ | 117,306,654 | $ | 117,619,015 | $ | 126,564,146 | |||||
| NAV Per Share of Common Stock (b) | $ | 8.33 | $ | 8.35 | $ | 8.99 | |||||
| Market Price Per Share | $ | 7.64 | $ | 7.44 | $ | 8.06 | |||||
| Premium / (Discount) | (8.28 | )% | (10.90 | )% | (10.34 | )% | |||||
| Outstanding Shares | 14,082,315 | 14,082,315 | 14,082,315 | ||||||||
| Total Net Investment Income (c)(d) | $ | 1,329,239 | $ | 1,348,287 | $ | 1,342,249 | |||||
| Total Net Realized/Unrealized Gain/(Loss)(c) | $ | 427,470 | $ | (5,382,729 | ) | $ | 3,502,233 | ||||
| Preferred Dividends Paid from Net Investment Income (c) | $ | (294,698 | ) | $ | (380,395 | ) | $ | (405,374 | ) | ||
| Net Increase (Decrease) in Net Assets From Operations (c) | $ | 1,462,011 | $ | (4,414,837 | ) | $ | 4,439,108 | ||||
| Earnings per Common Share Outstanding | |||||||||||
| Total Net Investment Income (c)(d) | $ | 0.09 | $ | 0.10 | $ | 0.10 | |||||
| Total Net Realized/Unrealized Gain/(Loss)(c) | $ | 0.03 | $ | (0.38 | ) | $ | 0.25 | ||||
| Preferred Dividends Paid from Net Investment Income (c) | $ | (0.02 | ) | $ | (0.03 | ) | $ | (0.03 | ) | ||
| Net Increase (Decrease) in Net Assets From Operations (c) | $ | 0.10 | $ | (0.31 | ) | $ | 0.32 | ||||
| Undistributed Net Investment Income (e) | $ | (3,010,365 | ) | $ | (2,270,534 | ) | $ | (2,431,378 | ) | ||
| Undistributed Net Investment Income | |||||||||||
| Per Share (e) | $ | (0.21 | ) | $ | (0.16 | ) | $ | (0.17 | ) | ||
| Variable Rate Demand Preferred Stock (e) | $ | 47,400,000 | $ | 47,400,000 | $ | 47,400,000 |
Footnotes: | |
(a) | The difference between the Fund’s total assets and total net assets is due primarily to its outstanding variable rate demand preferred stock (“VRDPS”); total net assets do not include the liquidation value of VRDPS. |
(b) | NAVs are calculated as of the close of business on the last business day in the periods indicated above. |
(c) | For the quarter indicated. |
(d) | Excludes distributions paid to preferred stockholders from net investment income. |
(e) | As of the date indicated above. |
This financial data is unaudited.
The Fund files its semi-annual and annual reports with the Securities and Exchange Commission (“SEC”), as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. These reports are available on the SEC’s website at www.sec.gov. To obtain information on Forms N-PORT or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102 .
Western Asset Intermediate Muni Fund Inc., a diversified closed-end investment management company, is advised by Franklin Templeton Fund Advisor, LLC (“FTFA”) and is sub-advised by Western Asset Management Company (“Western Asset”). FTFA and Western Asset are indirect, wholly-owned subsidiaries of Franklin Resources, Inc. (“Franklin Resources”).
For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s web site at www.franklintempleton.com/investments/options/closed-end-funds . 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. Franklin Resources and its affiliates do not engage in selling shares of the Fund.
Category: Financials
Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Funds
View source version on businesswire.com: https://www.businesswire.com/news/home/20251027021918/en/
Investor Contact: Fund Investor Services 1-888-777-0102
FAQ**
How does the recent performance of Western Asset Intermediate Muni Fund Inc. (SBI), particularly its total net assets decline, impact its long-term investment strategy and risk assessment for investors?
Given the current discount of 8.28% on market price per share of Western Asset Intermediate Muni Fund Inc. (SBI) compared to its NAV, should investors consider this an attractive entry point or a red flag?
What are the potential implications of the $3,010,365 of undistributed net investment income for future distributions and overall financial health of Western Asset Intermediate Muni Fund Inc. (SBI)?
Considering the recent realized and unrealized gains/losses of Western Asset Intermediate Muni Fund Inc. (SBI), how should investors interpret this data in relation to their portfolio diversification and risk management strategies?
**MWN-AI FAQ is based on asking OpenAI questions about Western Asset Intermediate Muni Fund Inc (NYSE: SBI).
NASDAQ: SBI
SBI Trading
-0.25% G/L:
$7.87 Last:
9,460 Volume:
$7.86 Open:
