About SMMYX
Western Asset Managed Municipals Fund Class I is an open-end municipal bond mutual fund focused on generating high levels of income that are excluded from gross income for U.S. federal tax purposes. The fund primarily invests in intermediate- and long-term municipal securities, typically spanning maturities from one to over thirty years, to balance income potential with interest-rate risk. Its mandate emphasizes predominantly investment-grade issuers while allowing limited exposure to lower-rated bonds to enhance income and diversification. The portfolio concentrates in national municipal credits across sectors such as essential services, transportation, utilities, and state and local general obligations, seeking broad geographic and sector exposure within the U.S. tax-exempt market. Managed by a specialized team with a repeatable process, the strategy targets after-tax total return through security selection, credit research, and active duration management. Within the muni national long category, the fund’s risk profile reflects medium credit quality and extensive interest-rate sensitivity consistent with its longer-duration focus. This vehicle serves investors seeking tax-advantaged income and diversified municipal bond exposure within a professionally managed framework.
Fund Family Franklin Templeton Investments
Category Muni National Long
Performance Rating Above Average
Risk Rating Below Average
Stock Exchange NASDAQ
Ticker Symbol SMMYX
Share Class Class I
Index Bloomberg Municipal Bond TR
SMMYX had a total return of 5.92% in the past year, including dividends. Since the fund's
inception, the average annual return has been 4.22%.
