Western Asset Variable Rate Strategic Fund Inc. Announces Financial Position as of June 30, 2013

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Western Asset Variable Rate Strategic Fund Inc. Announces Financial Position as of June 30, 2013

NEW YORK--(BUSINESS WIRE)-- Western Asset Variable Rate Strategic Fund Inc. (NYS: GFY) today announced the financial position of the Fund as of June 30, 2013.

        
Current QPrevious QPrior Yr Q
June 30, 2013March 31, 2013June 30, 2012
Total Assets (a)$  125,206,040$  131,239,242$  127,963,494
Total Net Assets (a)$124,970,099$126,406,486$117,372,591
NAV Per Share of Common Stock (b)$18.74$18.96$17.63
Market Price Per Share$17.23$18.89$16.73
Premium / (Discount)(8.06)%(0.37)%(5.10)%
Outstanding Shares6,669,1536,667,9626,658,748
 
Total Net Investment Income (c)$1,286,839$1,307,448$1,500,908
Total Net Realized/Unrealized Gain/(Loss) (c)$  (1,294,910)$  1,953,325 $  (353,427)
Net Increase (Decrease) in Net Assets From Operations (c)$  (8,071)$  3,260,773 $  1,147,481 
 
Earnings per Common Share Outstanding
Total Net Investment Income (c)$0.19$0.20$0.22
Total Net Realized/Unrealized Gain/(Loss) (c)$  (0.19)$  0.29 $  (0.05)
Net Increase (Decrease) in Net Assets From Operations (c)$  - $  0.49 $  0.17 
 
Undistributed/(Overdistributed) Net Investment Income (d)$2,681,493$2,845,109$2,758,756
Undistributed/(Overdistributed) Net Investment Income
Per Share (d)$0.40$0.43$0.41
 
Loan Outstanding (d)N/AN/AN/A
Preferred Shares Outstanding (d)N/AN/AN/A
Reverse Repurchase Agreements (d)$-$3,994,346$10,182,120
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 atwww.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, please call 1-888-777-0102 or consult the Fund's web site at www.leggmason.com/cef.

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.



Western Asset Variable Rate Strategic Fund Inc.
Media:
Maria Rosati, 212-805-6036
mrosati@leggmason.com

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:

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