Western Asset Inflation Management Fund Inc. (NYSE: IMF) announced today the results of the annual meeting of shareholders held on April 27, 2012. Shareholders voted at the meeting to elect Directors of the Fund (Proposal No. 1) and voted against a shareholder proposal to terminate the investment management agreement between Legg Mason Partners Fund Advisor, LLC and the Fund (Proposal No. 2).
Carol L. Colman, Daniel P. Cronin and Paolo M. Cucchi were elected as Class I Directors of IMF to hold office until the annual meeting of shareholders in the year 2015 or thereafter when their respective successors are duly elected and qualified (Proposal No. 1).
Also considered by shareholders at the annual meeting was a proposal (Proposal No. 2) to terminate the investment management agreement between Legg Mason Partners Fund Advisor, LLC and the Fund. Of the 4,618,146 votes cast with regard to Proposal No. 2, approximately 52.84% voted against the proposal and approximately 47.16% voted to approve the proposal.
Management of the Fund noted that this is the second consecutive year that Donald R. Logan has made a shareholder proposal that was rejected by a majority of shareholders voting.
Western Asset Inflation Management Fund Inc. is a non-diversified, closed-end management investment company 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, an affiliate of the investment manager.
Contact the Fund at 1-888-777-0102 for additional information, 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.