Western Asset Emerging Markets Debt Fund Inc. Announces Financial Position as of March 31, 2024
Western Asset Emerging Markets Debt Fund (NYSE: EMD) announced its financial position as of March 31, 2024. Total assets increased to $881.2 million from $872.3 million in the prior quarter. The total net assets rose to $622.2 million, while the NAV per share improved to $10.65. The market price per share also increased to $9.61, reducing the discount to NAV to 9.77%. The fund reported total net investment income of $11 million and a net increase in net assets from operations of $19.4 million. However, there was an overdistribution of net investment income amounting to $12.6 million. Outstanding shares remained steady at 58.4 million. The loan outstanding stayed consistent at $250 million.
- Total assets increased to $881.2 million from $872.3 million.
- Total net assets rose to $622.2 million from $617.6 million.
- NAV per share improved to $10.65 from $10.57.
- Market price per share increased to $9.61 from $9.21.
- Discount to NAV reduced to 9.77% from 12.87%.
- Net investment income increased to $11 million from $10.7 million.
- Net increase in net assets from operations was $19.4 million.
- Undistributed net investment income increased to $12.6 million from $8.8 million, indicating overdistribution.
- Net realized/unrealized gains significantly decreased to $8.4 million from $56.5 million in the previous quarter.
- Earnings per share from net realized/unrealized gains dropped to $0.14 from $0.97.
| Current Q | Previous Q | Prior Yr Q | |||||||||
| March 31, 2024 | December 31, 2023 | March 31, 2023 | |||||||||
| Total Assets (a) | $ |
881,201,531 |
|
$ |
872,342,845 |
|
$ |
866,095,578 |
|
||
| Total Net Assets (a) | $ |
622,166,546 |
|
$ |
617,562,033 |
|
$ |
603,865,350 |
|
||
| NAV Per Share of Common Stock (b) | $ |
10.65 |
|
$ |
10.57 |
|
$ |
10.02 |
|
||
| Market Price Per Share | $ |
9.61 |
|
|
9.21 |
|
$ |
8.59 |
|
||
| Premium / (Discount) |
|
(9.77 |
)% |
|
(12.87 |
)% |
|
(14.27 |
)% |
||
| Outstanding Shares |
|
58,443,565 |
|
|
58,443,565 |
|
|
60,246,012 |
|
||
| Total Net Investment Income (c) | $ |
11,013,067 |
|
$ |
10,721,573 |
|
$ |
10,496,792 |
|
||
| Total Net Realized/Unrealized Gain/(Loss) (c) | $ |
8,406,890 |
|
$ |
56,484,143 |
|
$ |
(9,582,408 |
) |
||
| Net Increase (Decrease) in Net Assets From Operations (c) | $ |
19,419,957 |
|
$ |
67,205,716 |
|
$ |
914,384 |
|
||
| Earnings per Common Share Outstanding | |||||||||||
| Total Net Investment Income (c) | $ |
0.19 |
|
$ |
0.18 |
|
$ |
0.17 |
|
||
| Total Net Realized/Unrealized Gain/(Loss) (c) | $ |
0.14 |
|
$ |
0.97 |
|
$ |
(0.16 |
) |
||
| Net Increase (Decrease) in Net Assets From Operations (c) | $ |
0.33 |
|
$ |
1.15 |
|
$ |
0.01 |
|
||
| Undistributed/(Overdistributed) Net Investment Income (d) | $ |
(12,613,320 |
) |
$ |
(8,810,943 |
) |
$ |
(3,758,630 |
) |
||
| Undistributed/(Overdistributed) Net Investment Income | |||||||||||
| Per Share (d) | $ |
(0.22 |
) |
$ |
(0.15 |
) |
$ |
(0.06 |
) |
||
| Loan Outstanding (d) | $ |
250,000,000 |
|
$ |
250,000,000 |
|
$ |
250,000,000 |
|||
| 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 period indicated above. This financial data is unaudited. |
|||||||||||
The Fund files its semi-annual and annual reports with the Securities and Exchange Commission (“SEC”), as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. These reports are available on the SEC’s website at www.sec.gov. To obtain information on Forms N-PORT or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102.
Western Asset Emerging Markets Debt Fund Inc., a non-diversified, closed-end management investment company, is advised by Franklin Templeton Fund Advisor, LLC (“FTFA”) (formerly known as Legg Mason Partners Fund Advisor, LLC) and is sub-advised by Western Asset Management Company, LLC (“Western Asset”). FTFA and Western Asset are indirect, wholly-owned subsidiaries of Franklin Resources, Inc. (“Franklin Resources”).
For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s web site at www.franklintempleton.com/investments/options/closed-end-funds. 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. Franklin Resources and its affiliates do not engage in selling shares of the Fund.
Category: Financials
Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Funds
View source version on businesswire.com: https://www.businesswire.com/news/home/20240523987734/en/
Investor: Fund Investor Services 1-888-777-0102
Source: Franklin Resources, Inc. and Legg Mason Closed End Funds
FAQ
What is the financial position of Western Asset Emerging Markets Debt Fund as of March 31, 2024?
What is the NAV per share for EMD as of March 31, 2024?
What was the market price per share of EMD as of March 31, 2024?
How much was the net investment income for EMD in Q1 2024?
Did the Western Asset Emerging Markets Debt Fund have a discount or premium to NAV as of March 31, 2024?
What was the outstanding loan amount for EMD as of March 31, 2024?
How much was the undistributed net investment income for EMD as of March 31, 2024?
