SCHEDULE: First Trust Entities Disclose 4.99% Passive Stake in Western Asset Intermediate Muni Fund

First Trust Portfolios L.P., First Trust Advisors L.P., and The Charger Corporation jointly reported a 4.99% beneficial ownership stake in Western Asset Intermediate Muni Fund Inc. as of June 30, 2025, held for passive investment purposes.

Summary

• First Trust Portfolios L.P., First Trust Advisors L.P., and The Charger Corporation jointly filed an Amendment No. 1 to Schedule 13G.
• The filing reports beneficial ownership of 703,228 shares of Common stock in Western Asset Intermediate Muni Fund Inc.
• This aggregate amount represents 4.99% of the class of securities.
• The shares are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
• First Trust Portfolios L.P. acts as sponsor of certain unit investment trusts which hold shares of the issuer.
• First Trust Advisors L.P., an affiliate of First Trust Portfolios L.P., acts as portfolio supervisor of these unit investment trusts and as investment advisor/sub-advisor for other registered investment companies, pooled investment vehicles, and separately managed accounts holding issuer shares.
• The Charger Corporation is the General Partner of both First Trust Portfolios L.P. and First Trust Advisors L.P.
• The reporting persons explicitly disclaim beneficial ownership of the shares of the issuer identified in this filing.

Sentiment

Score: 5

Explanation: The filing is a neutral, factual disclosure of beneficial ownership, indicating a passive investment stake. It does not contain information that would inherently suggest positive or negative sentiment regarding the issuer's performance or prospects.

Positives

• The filing indicates a stable, passive investment by institutional entities, suggesting no intent to influence control of the issuer.

Risks

• The reporting persons (First Trust Portfolios L.P., First Trust Advisors L.P., and The Charger Corporation) explicitly disclaim beneficial ownership of the shares of Western Asset Intermediate Muni Fund Inc. identified in this filing, meaning they do not directly control the voting or disposition of these shares, which are held on behalf of unit investment trusts and other managed accounts.

Future Outlook

Not applicable, as a Schedule 13G reports historical ownership and does not provide forward-looking statements or guidance.

Industry Context

This filing is a standard regulatory disclosure for institutional investors holding a passive stake below 5% in a publicly traded company. It indicates that First Trust entities, as investment managers and sponsors of investment vehicles, hold shares of Western Asset Intermediate Muni Fund Inc. as part of their ordinary course of business for client portfolios, without intending to influence the issuer's control.

Related Party Transactions

• First Trust Portfolios L.P., First Trust Advisors L.P., and The Charger Corporation are filing jointly pursuant to Rule 13d-1(k)(1).
• The Charger Corporation is the General Partner of both First Trust Portfolios L.P. and First Trust Advisors L.P.
• First Trust Advisors L.P. is an affiliate of First Trust Portfolios L.P.
• First Trust Portfolios L.P. acts as sponsor of unit investment trusts that hold shares of the issuer.
• First Trust Advisors L.P. acts as portfolio supervisor for these unit investment trusts and as investment advisor/sub-advisor for other registered investment companies, pooled investment vehicles, and separately managed accounts that hold issuer shares.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant passive institutional ownership.
• Management: Confirms that a large institutional holder is not seeking to influence control.
• Clients of First Trust entities: Their investments are managed through these holdings.

Key Dates

Keywords

Western Asset Intermediate Muni Fund Inc., First Trust Portfolios L.P., First Trust Advisors L.P., The Charger Corporation, Schedule 13G, beneficial ownership, passive investment, municipal bonds, closed-end fund, investment management, SEC filing