Western Asset Diversified Income Fund Updates Portfolio Management Team, Announces Future Departure

summarizeSummary

Western Asset Diversified Income Fund filed a prospectus supplement detailing updates to its portfolio management team, including new manager information and the future departure of Christopher F. Kilpatrick effective September 30, 2026.

check_boxKey Events

• Portfolio Management Team Updated

  The fund updated its prospectus to reflect changes and current details of its investment management team, effective January 27, 2026. This includes detailed information on Michael C. Buchanan, Greg E. Handler, Annabel Rudebeck, Rafael Zielonka, John Hwang, and Ryan Kohan.

• Future Portfolio Manager Departure Announced

  Christopher F. Kilpatrick will be removed from the fund's portfolio management team, effective September 30, 2026.

• Manager Holdings Disclosed

  The beneficial ownership of fund securities by each portfolio manager was updated, with most managers holding minimal or no shares, while Michael C. Buchanan holds between $100,001 and $500,000.

auto_awesomeAnalysis

This prospectus supplement provides investors with updated information regarding the investment management team responsible for the fund's day-to-day operations. The detailed profiles of the current team members, including their experience and other accounts managed, offer transparency. The announcement of Christopher F. Kilpatrick's future departure, effective September 30, 2026, is a key change that investors should note, as portfolio manager changes can influence a fund's strategy and performance. The fund operates with a team-based approach, which may mitigate the impact of individual departures.