Market Overview

Western Asset Variable Rate Strategic Fund Inc. Announces Financial Position as of June 30, 2018

Share:

Western Asset Variable Rate Strategic Fund Inc. (NYSE:GFY) today
announced the financial position of the Fund as of June 30, 2018.

               
Current Q Previous Q Prior Yr Q
June 30, 2018 March 31, 2018 June 30, 2017
Total Assets (a)

$

 

111,424,020

$   108,385,521 $   113,375,293
Total Net Assets (a) $ 84,981,493 $ 85,951,527 $ 84,707,944
NAV Per Share of Common Stock (b) $ 18.20 $ 18.41 $ 18.14
Market Price Per Share $ 16.63 $ 16.88 $ 16.98
Premium / (Discount) (8.63 )% (8.31 )% (6.39 )%
Outstanding Shares 4,668,407 4,668,407 4,668,407
 
Total Net Investment Income (c) $ 1,069,411 $ 1,032,871 $ 1,041,596
Total Net Realized/Unrealized Gain/(Loss) (c) $   (954,040 ) $   383,924   $   777,192  
Net Increase (Decrease) in Net Assets From Operations (c) $   115,371   $   1,416,795   $   1,818,788  
 

Earnings per Common Share Outstanding

Total Net Investment Income (c) $ 0.23 $ 0.22 $ 0.22
Total Net Realized/Unrealized Gain/(Loss) (c) $   (0.20 ) $   0.08   $   0.17  
Net Increase (Decrease) in Net Assets From Operations (c) $   0.03   $   0.30   $   0.39  
 
Undistributed/(Overdistributed) Net Investment Income (d) $ (357,598 ) $ (341,604 ) $ (569,227 )
Undistributed/(Overdistributed) Net Investment Income
Per Share (d) $ (0.08 ) $ (0.07 ) $ (0.12 )
 
Reverse Repurchase Agreements (d) $ 24,300,393 $ 21,708,856 $ 27,100,070
 
 
Footnotes:

 

(a)

The difference between total assets and total net assets is due
primarily to the Fund's use

of borrowings; total net assets do not include borrowings.

(b) NAVs are calculated as of the close of business on the last business
day in the periods indicated above.
(c) For the quarter indicated.
(d) 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 Commission'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 about the Fund, please call 1-888-777-0102 or
consult the Fund's web site at www.lmcef.com.
Hard copies of the Fund's complete audited financial statements are
available free of charge upon request.

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.

View Comments and Join the Discussion!