Western Asset Variable Rate Strategic Fund Inc. (NYSE: GFY) Announces Board Approval of Plan Of Liquidation and Dissolution

Jul 09, 2020

Western Asset Variable Rate Strategic Fund Inc. (the “Fund”) announced today that the Fund’s Board of Directors (the “Board”) has approved a plan of liquidation and dissolution of the Fund, subject to stockholder approval of such plan in accordance with Maryland law. Based on the recommendations of Legg Mason Partners Fund Advisor, LLC (“LMPFA”), the Fund’s investment manager, and Western Asset Management Company, LLC (“Western Asset”), one of the Fund’s sub-advisers, the Board believes that liquidation and dissolution of the Fund is in the best interests of the Fund.

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