Western Asset Variable Rate:GFY

    Overview

    As of 2/15/2019

     Share
    Price
    NAVPremium/
    Discount
    Current$15.96$17.88-10.74%
    52 Wk Avg$16.40$18.17-9.72%
    52 Wk High$17.42$18.47-5.10%
    52 Wk Low$15.37$17.63-13.83%
    Regular Distribution TypeIncome Only
    Distribution Rate5.83%
    Distribution Amount$0.0775
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Fund seeks high current income through investment in variable rate instruments of global issuers

    Capital Structure

    As of 2/15/2019

    Total Net Assets:$108.555M
    Total Common Assets:$86.846M
    Common Shares Outstanding:4,668,407
    Leverage

    As of 3/31/2018

    Preferred Share Assets:
    Type of Preferred:
    Total Debt (USD):
    Structural Leverage (USD):
    Structural Leverage (%): 0.00%
    Effective Leverage (USD): $22.000M
    Effective Leverage (%): 20.17%
    Annual Expense Ratios

    As of 9/30/2018

      Per Common Share
    Management Fees0.97%
    Other Expenses:0.26%
    Baseline Expense: 1.23%
    Interest Expense:0.77%
    Total: 2.00%
    Fund Management

    Fund Sponsor
    Legg Mason Partners Fund Advisors, LLC

    Portfolio Managers
    John L. Bellows (12 Jun 2016) / Kenneth Leech (31 Mar 2014)

    Basics
    Category: Taxable Income-Multi-Sector
    Ticker: GFY
    NAV Ticker: XGFYX
    Average Daily Volume (shares): 6,000
    Average Daily Volume (USD): $0.102M
    Inception Date: 10/27/2004
    Inception Share Price: $20.00
    Inception NAV: $19.06
    Tender Offer: No
    Term: No
    Fiscal Year End: September 30
    Third Party Links & Reports

    Distributions

    As of 2/15/2019

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 9/30/2018
    $0.0754
    Annualized Distribution Rate on NAV:
    As of 2/15/2019
    5.20%
    Total Return on NAV (12 months):
    As of 2/15/2019
    2.51%
    Avg. UNII Per Share:
    As of 9/30/2018
    $0.0220
    Avg. Portfolio Coupon:
    As of 2/15/2019
    3.81%
    Total % Portfolio Effectively Leveraged:
    As of 2/15/2019
    20.17%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 2/15/2019

    PeriodAvg Discount
    6 Month-11.34%
    1 Year-9.72%
    3 Year-8.38%
    5 Year-8.76%
    Z-Score

    As of 2/15/2019

    PeriodZStat
    3 Month1.50
    6 Month0.60
    1 Year-0.50
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 2/15/2019
    Category: Multi-Sector Leveraged

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD3.97%2.24%11.97%5.37%
    2018-5.61%1.22%-2.45%-0.76%
    201714.20%10.20%17.13%16.33%
    20167.76%6.61%20.31%14.85%
    20150.42%-0.81%-9.80%-4.12%
    2014-0.01%1.67%6.74%6.88%
    20133.64%6.06%11.24%11.12%
    201225.63%16.53%22.14%24.10%
    2011-8.63%0.15%0.68%0.57%
    201025.50%15.94%20.23%19.32%
    200930.76%24.61%68.94%59.68%
    2008-21.67%-22.26%-40.35%-41.17%
    2007-4.61%-0.69%-13.11%0.35%
    200614.23%7.85%  
    2005-10.08%7.09%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 2/15/2019
    Category: Multi-Sector Leveraged

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 2/15/2019
    3.81%
    Number of Holdings:
    As of 11/30/2018
    313
    Asset Allocation

    As of 1/31/2018 reported by Fund Sponsor

    Top Sectors

    As of 6/30/2017 reported by Fund Sponsor

    Sector%Portfolio
    Communications 1.95%
    Energy 1.93%
    Banking 1.23%
    Consumer Cyclical 0.55%
    Finance Companies 0.23%
    Capital Goods 0.20%
    Transportation 0.01%
    Top Holdings

    As of 11/30/2018 reported by Fund Sponsor

    HoldingValue% Portfolio
    Ir Swap 1d-Fedl01 31 Bps 0.31 19 Dec 2023$9.59M8.88%
    Wachovia Cap Tr Iii FRN 5.57$1.76M1.63%
    Banc Amer Fdg 2015-R3 Tr CMO 2.41$1.34M1.24%
    Jpmorgan Chase FRN 5.15$1.28M1.19%
    Bank of New York Mellon Corp Pfd 4.50$1.27M1.18%
    M & T Bk FRN 6.45$1.27M1.18%
    FNMA CMO 11.76 25 Apr 2029$1.26M1.17%
    State Str Pfd$1.24M1.15%
    Lehman Xs Tr 2006-8 CMO 2.77$1.24M1.14%
    FNMA CMO 12.76 25 Jan 2029$1.20M1.11%
    Morgan Stanley Resecuritization Tr 2015- 2.66$1.13M1.04%
    Country Allocation

    As of 6/30/2017 reported by Fund Sponsor

    Country% Portfolio
    Other Countries 91.54%
    Brazil 5.25%
    Mexico 1.91%
    Russia 0.83%
    Kuwait 0.25%
    Colombia 0.22%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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