Western Asset Managed Municipals Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor LLC The fund is comanaged by Western Asset Management Company It invests in the fixed income markets of the United States The fund invests in securities that provide income exempt from federal income tax It invests primarily in investment grade municipal securities The fund employs intensive proprietary research to create its portfolio It benchmarks the performance of its portfolio against the Barclays Capital Municipal Bond Index The fund was formerly known as Managed Municipals Portfolio Inc Western Asset Managed Municipals Fund Inc was formed on June 26 1992 and is domiciled in the United States