Certain Closed-end Funds Advised by Franklin Templeton Fund Adviser, LLC Announce Appointment of New Chair and Directors
November 15 2024 - 7:00AM
Business Wire
BrandywineGLOBAL – Global Income
Opportunities Fund Inc. (“BWG”)
Clarion Partners Real Estate Income Fund
Inc. (“CPREIF”)
ClearBridge Energy Midstream Opportunity
Fund Inc. (“EMO”)
LMP Capital and Income Fund Inc.
(“SCD”)
Western Asset Diversified Income Fund
(“WDI”)
Western Asset Emerging Markets Debt Fund
Inc. (“EMD”)
Western Asset Global Corporate Opportunity
Fund Inc. (“GDO”)
Western Asset Global High Income Fund Inc.
(“EHI”)
Western Asset High Income Fund II Inc.
(“HIX”)
Western Asset High Income Opportunity Fund
Inc. (“HIO”)
Western Asset High Yield Defined Opportunity
Fund Inc. (“HYI”)
Western Asset Intermediate Muni Fund Inc.
(“SBI”)
Western Asset Investment Grade Opportunity
Trust Inc. (“IGI”)
Western Asset Managed Municipals Fund Inc.
(“MMU”)
Western Asset Mortgage Opportunity Fund Inc.
(“DMO”)
Western Asset Municipal High Income Fund
Inc. (“MHF”)
(collectively, the “Funds”)
The Board of each Fund announced today the elevation of
independent Director Eileen A. Kamerick to Chair of Board,
effective November 15, 2024. Ms. Kamerick replaces Jane Trust, the
former Chair of the Board of the Funds. Ms. Trust will continue to
serve as an interested Director of the Funds. The Boards also
announced the appointments of Anthony Grillo, Peter Mason and
Hillary Sale as Directors of the Funds, effective November 15,
2024.
Ms. Kamerick has served as an independent Director of the Funds
since 2013. Ms. Kamerick is an adjunct professor at leading law
schools and consults on corporate governance and financial strategy
matters. Ms. Kamerick is also a National Association of Corporate
Directors Board Leadership Fellow, with Director Certification and
NACD 2022 Directorship 100 honoree. Ms. Kamerick has also served as
Chief Financial Officer at several leading companies, including
Houlihan Lokey, Heidrick & Struggles International, Inc. Leo
Burnett, and BP Amoco Americas. She also serves an independent
director of Associated Banc Corp., ACV Auctions Inc. and VALIC
Company I.
Mr. Grillo was one of the founders of the American Securities
Opportunity Funds established in 2005. Mr. Grillo served as
Managing Director of the American Securities Opportunity Funds
until his retirement in 2018. Prior to his experience at American
Securities Opportunity Funds, he held senior management positions
at various private equity and private credit firms. Currently, Mr.
Grillo is a Director of Littelfuse, Inc. since 1991. Mr. Grillo
served on the board of directors of Oaktree Acquisition Corp. II
(NYSE:OACB) from September 2020 until its merger with Alvotech
Holdings S.A. in June 2022. He previously served on the board of
directors of Oaktree Acquisition Corp. (NYSE: OAC) from June 2019
until its merger with Hims & Hers Health, Inc. in January
2021.
Mr. Mason has been an international commercial arbitrator and
mediator since 2021. Prior to establishing his arbitration and
mediation practice, Mr. Mason served as global General Counsel of
UNICEF from 1998 through 2021. At UNICEF, he chaired the Investment
Committee for a retiree benefits fund and was a member of the
Global Finance Committee. He served on the UNICEF Audit Committee
for eight years.
Ms. Sale has been the Agnes Williams Sesquicentennial Professor
of Leadership and Corporate Governance at the Georgetown University
Law Center and Professor of Management at the McDonough School of
Business at Georgetown University since 2018, and was Associate
Dean for Strategy at the Georgetown University Law Center from 2020
to 2023. Ms. Sale has been a Board Faculty Member of the National
Association of Corporate Directors since 2021, and a Director of
CBOE Regulatory Boards since 2022. Ms. Sale was a Member of the
Board of Governors of FINRA from 2016 to 2022.
For more information about the Funds, please call 1-888-777-0102
or consult the Funds’ website at
www.franklintempleton.com/investments/options/closed-end-funds.
Hard copies of the Funds’ complete audited financial statements are
available free of charge upon request.
Data and commentary provided in this press release are for
informational purposes only. Franklin Resources and its affiliates
do not engage in selling shares of the Funds traded on the New York
Stock Exchange.
Certain Fund shares are traded on the New York Stock Exchange.
Similar to stocks, such Fund share prices will fluctuate with
market conditions and, at the time of sale, may be worth more or
less than the original investment. Shares of closed-end funds often
trade at a discount to their net asset value, and can increase an
investor’s risk of loss. All investments are subject to risk,
including the risk of loss.
INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY
LOSE VALUE
About Franklin Templeton
Franklin Resources, Inc. is a global investment management
organization with subsidiaries operating as Franklin Templeton and
serving clients in over 150 countries. Franklin Templeton’s mission
is to help clients achieve better outcomes through investment
management expertise, wealth management and technology solutions.
Through its specialist investment managers, the company offers
specialization on a global scale, bringing extensive capabilities
in fixed income, equity, alternatives and multi-asset solutions.
With more than 1,500 investment professionals, and offices in major
financial markets around the world, the California-based company
has over 75 years of investment experience and over $1.6 trillion
in assets under management as of October 31, 2024. For more
information, please visit franklintempleton.com and follow us on
LinkedIn, X and Facebook.
Category: Fund Announcement
Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Funds
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241115156581/en/
Media Contact: Lisa Tibbitts +1 (904) 942-4451
Lisa.Tibbitts@franklintempleton.com
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