Company: MMU
Filing Date: 2025-01-28
Form Type: N-CSRS
Source: 0001133228-25-000562
Chunk: 17

Company: WESTERN ASSET MANAGED MUNICIPALS FUND INC.
Filing Date: 2025-01-28
Form: N-CSRS
Chunk 17
---
 (l) Reclassification. GAAP requires that certain components of net assets be reclassified to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or net asset value per share. 2. Investment management agreement and other transactions with affiliates Franklin Templeton Fund Adviser, LLC ( “ FTFA ” ) is the Fund’s investment manager and Western Asset Management Company, LLC (“Western Asset”) is the Fund’s subadviser. FTFA and Western Asset are indirect, wholly-owned subsidiaries of Franklin Resources, Inc. (“Franklin Resources”). FTFA provides administrative and certain oversight services to the Fund. The Fund pays FTFA an investment management fee, calculated daily and paid monthly, at an annual rate of 0.55% of the Fund’s average daily net assets. FTFA has agreed to waive 0.05% of its investment management fee from October 16, 2023 through October 28, 2024. For the purposes of calculating the investment management fee, the aggregate liquidation value of the Preferred Stock is not deducted in determining the Fund’s average daily net assets. FTFA delegates to Western Asset the day-to-day portfolio management of the Fund. For its services, FTFA pays Western Asset monthly 70% of the net management fee it receives from the Fund. The manager has agreed to waive the Fund’s management fee to an extent sufficient to offset the net management fee payable in connection with any investment in an affiliated money market fund (the “ affiliated money market fund waiver ” ). During the six months ended November 30, 2024, fees waived and/or expenses reimbursed amounted to $187,612, which included an affiliated money market fund waiver of $31. All officers and one Director of the Fund are employees of Franklin Resources or its affiliates and do not receive compensation from the Fund. The Fund is permitted to purchase or sell short-term variable rate demand obligations from or to certain other affiliated funds or portfolios under specified conditions outlined in procedures adopted by the Board of Directors. The procedures have been designed to provide assurance that any purchase or sale of securities by the Fund from or to another fund or portfolio that is, or could be considered, an affiliate by virtue of having a common investment manager or subadviser (or affiliated investment manager or subadviser), common Directors and/or common officers complies with Rule 17a-7 under the 1940 Act. Further, as defined under the procedures, each transaction is effected at the current market price