Business & Finance
Business and Finance
Business and Finance
Thu, August 25, 2011
Wed, August 24, 2011 Western Asset Variable Rate Strategic Fund Inc. Announces Financial Position as of June 30, 2011
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 Q | Previous Q | Prior Yr Q | ||||||||||
| June 30, 2011 | March 31, 2011 | June 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.
