SBI - Western Asset Intermediate Muni Fund

What this means for you

One or more large investors own more than 5% of this fund but have told the regulator they are not seeking changes. That is common for banks, brokers and index funds that hold shares for their clients.

The investor's notice itself does not require anything from you; the fund's own announcement above does - by the date shown. If an investor changes its mind, it must file a new notice within days, and it will show up here.

Separately, the fund itself has announced a closing - see the box above for what to do and by when.

Email me if this changes

What happened, and when

1. Aug 4, 2026

   The fund proposed folding into MMU.

   Original document →

2. Nov 14, 2025

   RiverNorth cut its stake to 8.6% (from 9.9%), as a passive investor.

   Original document →

3. Aug 14, 2025

   RiverNorth raised its stake to 9.9% (from 8.7%), as a passive investor.

   Original document →

4. May 15, 2025

   RiverNorth cut its stake to 8.7% (from 11.9%), as a passive investor.

   Original document →

5. April 2, 2025

   Sit Investment sold down below 5% and stopped reporting.

   Original document →

About this fund

• Run by Western Asset. At its last yearly report (Nov 30, 2025) the fund was run by Franklin Templeton Fund Adviser, LLC. As of Nov 30, 2025, from the fund's yearly report. Original document →
• Size: about $119 million of holdings, as of May 29, 2026. As of May 29, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 30% on top of its own money, as of May 29, 2026. Borrowed money makes gains and losses bigger. About 94% of that is money the fund has borrowed by selling preferred shares. As of May 29, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 0.8% a year in management fees; 2.6% a year in total, including interest on borrowed money. Fiscal year ended Nov 30, 2025. As of Nov 30, 2025, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended Nov 30, 2025) the fund paid $0.50 a share. $0.28 of that was income; $0.22 was your own money back, not income. As of Nov 30, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Nov 30, 2025): $8.55. The shares traded at $7.75, about 9.4% below that. As of Nov 30, 2025, from the fund's yearly report. Original document →
• How the holdings did: down 0.1% over the last three months we have (March-May 2026), before the share price is taken into account. Over the last 12 months: +12.2%. As of May 29, 2026, from the fund's quarterly holdings report. Original document →
• How the holdings did over the fiscal year (ended Nov 30, 2025): the value of the holdings returned +1.5%. How the share price did: the shares returned +1.4% over the same year, counting payouts and the change in the market price. As of Nov 30, 2025, from the fund's annual report. Original document →
• First reported to the regulator in 1994.

What the fund holds

Almost all tax-free municipal bonds (100%). About 100% issued in the U.S.

1. Tennessee Energy Acquisition Corp (Tn), Tn Tnsutl 05/01/2053 - 2.6%
2. Illinois Sports Facs Authority (Il), Il Ilsfac 5.25 06/15/2030 - 2.6%
3. Texas Transn Commn, TX Txstrn 5 04/01/2044 - 2.3%
4. Puerto Rico Sales Tax Financing, Pr Prcgen 4.55 07/01/2040 - 2%
5. New York City Transitional Finance Authority (NY), NY Nycgen 4 05/01/2039 - 1.9%
6. New Jersey Transportation Trust Fund Authority (NJ), NJ Njstrn 5 06/15/2040 - 1.8%
7. New York City Transitional Finance Authority (NY), NY Nycgen 5 05/01/2044 - 1.8%
8. Black Belt Energy Gas District (Al), Al Bbeutl 11/01/2053 - 1.8%
9. Triborough Bridge and Tunnel Authority (NY), NY Trbtrn 5 05/15/2047 - 1.8%
10. New York Transportation Development Corp (NY), NY Nyttrn 6 06/30/2054 - 1.8%

As of May 29, 2026, from the fund's quarterly holdings report. Original document →