Fri, September 2, 2011
Thu, September 1, 2011
Wed, August 31, 2011
Tue, August 30, 2011
Mon, August 29, 2011
Sun, August 28, 2011
Sat, August 27, 2011
Fri, August 26, 2011
Thu, August 25, 2011
Wed, August 24, 2011
Tue, August 23, 2011
Mon, August 22, 2011
Fri, August 19, 2011
Thu, August 18, 2011
Wed, August 17, 2011
Tue, August 16, 2011
Mon, August 15, 2011

Western Asset Variable Rate Strategic Fund Inc. Announces Financial Position as of June 30, 2011


//business-finance.news-articles.net/content/201 .. unces-financial-position-as-of-june-30-2011.html
Published in Business and Finance on Wednesday, August 24th 2011 at 14:16 GMT by Market Wire   Print publication without navigation


NEW YORK--([ BUSINESS WIRE ])--Western Asset Variable Rate Strategic Fund Inc. (NYSE:GFY) today announced the financial position of the Fund as of June 30, 2011.

Current QPrevious QPrior Yr Q
June 30, 2011March 31, 2011June 30, 2010
Total Net Assets $ 118,113,737 $ 119,453,791 $ 108,630,145
NAV Per Share of Common Stock (a) $ 17.74 $ 17.94 $ 16.31
Market Price Per Share $ 16.60 $ 16.91 $ 15.37
Premium / (Discount) (6.43 )% (5.74 )% (5.76 )%
Outstanding Shares 6,658,748 6,658,748 6,658,748
Total Net Investment Income (b) $ 1,459,675 $ 1,456,176 $ 1,641,312
Total Net Realized/Unrealized Gain/(Loss) (b) $ (1,667,742 ) $ 2,468,165 $ (254,644 )
Net Increase (Decrease) in Net Assets From Operations (b) $ (208,067 ) $ 3,924,341 $ 1,386,668

Earnings per Common Share Outstanding

Total Net Investment Income (b) $ 0.22 $ 0.22 $ 0.25
Total Net Realized/Unrealized Gain/(Loss) (b) $ (0.25 ) $ 0.37 $ (0.04 )
Net Increase (Decrease) in Net Assets From Operations (b) $ (0.03 ) $ 0.59 $ 0.21
Undistributed/(Overdistributed) Net Investment Income (c) $ 1,734,571 $ 1,406,883 $ 1,483,893

Undistributed/(Overdistributed) Net Investment Income Per Share (c)

$ 0.26 $ 0.21 $ 0.22
Loan Outstanding (c) N/A N/A N/A
Preferred Shares Outstanding (c) N/A N/A N/A
Reverse Repurchase Agreements (c) N/A N/A N/A
Footnotes:
(a) NAVs are calculated as of the close of business on the last business day in the periods indicated above.
(b) For the quarter indicated.
(c) 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, 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 Commissiona™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, please call 1-888-777-0102 or consult the Funda™s web site at [ www.leggmason.com/cef ].

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.


Publication Contributing Sources