<SEC-DOCUMENT>0001193125-23-305128.txt : 20240205
<SEC-HEADER>0001193125-23-305128.hdr.sgml : 20240205
<ACCEPTANCE-DATETIME>20231228151855
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-23-305128
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20231228

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Clarion Partners Real Estate Income Fund Inc.
		CENTRAL INDEX KEY:			0001762562
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		620 8TH AVENUE
		STREET 2:		47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		8887770102

	MAIL ADDRESS:	
		STREET 1:		620 8TH AVENUE
		STREET 2:		47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEGG MASON PARTNERS INSTITUTIONAL TRUST
		CENTRAL INDEX KEY:			0000889512
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		LEGG MASON & CO., LLC
		STREET 2:		620 EIGHTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		1-877-721-1926

	MAIL ADDRESS:	
		STREET 1:		LEGG MASON & CO., LLC
		STREET 2:		620 EIGHTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CITIFUNDS INSTITUTIONAL TRUST
		DATE OF NAME CHANGE:	19981030

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEGG MASON PARTNERS VARIABLE EQUITY TRUST
		CENTRAL INDEX KEY:			0001176343
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		LEGG MASON & CO., LLC
		STREET 2:		620 EIGHTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		1-877-721-1926

	MAIL ADDRESS:	
		STREET 1:		LEGG MASON & CO., LLC
		STREET 2:		620 EIGHTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Legg Mason Partners Variable Portfolios IV
		DATE OF NAME CHANGE:	20060501

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SMITH BARNEY MULTIPLE DISCIPLINE TRUST
		DATE OF NAME CHANGE:	20021004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SMITH BARNEY MULTIPLE DISCIPLINE ACCOUNT TRUST
		DATE OF NAME CHANGE:	20020626

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEGG MASON PARTNERS INCOME TRUST
		CENTRAL INDEX KEY:			0000764624
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		LEGG MASON & CO., LLC
		STREET 2:		620 EIGHTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		1-877-721-1926

	MAIL ADDRESS:	
		STREET 1:		LEGG MASON & CO., LLC
		STREET 2:		620 EIGHTH AVENUE, 49TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEGG MASON PARTNERS INCOME FUNDS
		DATE OF NAME CHANGE:	20060407

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SMITH BARNEY INCOME FUNDS
		DATE OF NAME CHANGE:	19941228

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SMITH BARNEY SHEARSON INCOME FUNDS
		DATE OF NAME CHANGE:	19931015

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WESTERN ASSET HIGH INCOME FUND II INC.
		CENTRAL INDEX KEY:			0001058239
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		620 EIGHTH AVENUE
		STREET 2:		47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		8887770102

	MAIL ADDRESS:	
		STREET 1:		620 EIGHTH AVENUE
		STREET 2:		47TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SALOMON BROTHERS HIGH INCOME FUND II INC
		DATE OF NAME CHANGE:	19980421

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SALOMON BROTHERS HIGH YIELD BOND FUND IN
		DATE OF NAME CHANGE:	19980319
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>Multi-Registrant</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Morgan, Lewis&nbsp;&amp; Bockius LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">One Federal Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Boston, MA
02110 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">December&nbsp;28, 2023 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">VIA EDGAR </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Investment
Management </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, DC 20549 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Christina DiAngelo Fettig </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">Re:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>The Registrants (the &#147;Registrants&#148;) and Funds (the &#147;Funds&#148;) Listed in Annex A</U>
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ms.&nbsp;Fettig: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of the
Registrants,<SUP STYLE="font-size:75%; vertical-align:top">1</SUP> we are filing this letter to respond to comments you delivered by telephone on October&nbsp;31, 2023 to supplement comments you delivered on August&nbsp;10, 2023 (the &#147;Initial
Comments&#148;) on behalf of the Staff (the &#147;Staff&#148;) of the Securities and Exchange Commission following the Staff&#146;s review of certain filings made by the Funds, in each case with respect to the fiscal year listed beside the name of
the applicable Fund in Annex A hereto. For convenience of reference, summaries of the Staff&#146;s supplemental comments have been included herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1.
<U>Comment</U> (Western Asset Premier Institutional U.S. Treasury Reserves, Western Asset Premier Institutional Government Reserves, and Western Asset Premier Institutional Liquid Reserves) <I>[relates to Initial Comment 3]</I>: Rule <FONT
STYLE="white-space:nowrap">2a-7(h)(10)(i)(A)(1)</FONT> and (2)&nbsp;require that a money market fund post prominently on its website for a period of not less than six months the fund&#146;s schedule of investments as of the last day of the preceding
month that includes the weighted-average annual maturity and weighted-average life for the fund and each class of redeemable shares. Please explain whether the Funds&#146; website disclosure is consistent with the requirements of the rule. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant confirms that the Funds&#146; website disclosure has been updated consistent with the Staff&#146;s comment.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. <U>Comment</U> (Western Asset Premier Institutional U.S. Treasury Reserves, Western Asset Premier Institutional Government Reserves, and Western Asset
Premier Institutional Liquid Reserves) <I>[relates to Initial Comment 4(ii)]</I>: With regard to the Registrant&#146;s filing on Form <FONT STYLE="white-space:nowrap">N-CEN,</FONT> please explain why the Registrant did not check the box in Item
C.8.c to indicate that waived fees are subject to recoupment. </P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:75%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">When used in the responses below, term &#147;Fund&#148; refers to the applicable Fund and the term
&#147;Registrant&#148; refers to the applicable Registrant listed beside the name of such Fund in Annex A. </P></TD></TR></TABLE>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant respectfully acknowledges that the above mentioned disclosure was
inadvertently omitted and advises the Staff that it will so indicate in future Form <FONT STYLE="white-space:nowrap">N-CEN</FONT> filings. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3.
<U>Comment</U> (Western Asset SMASh Series Core Completion Fund) <I>[relates to Initial Comment 5(ii)]</I>: With regard to the Registrant&#146;s filing on Form <FONT STYLE="white-space:nowrap">N-CEN,</FONT> in light of the Fund&#146;s investments in
TBA securities, please explain why the Registrant did not check the box in Item C.7.n.vi to indicate that the fund invested in securities on a when-issued or forward-settling basis, or with a <FONT STYLE="white-space:nowrap">non-standard</FONT>
settlement cycle in reliance on Rule <FONT STYLE="white-space:nowrap">18f-4(f).</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant confirms that the
Fund did not check the box in Item C.7.n.vi because the Fund did not rely on Rule <FONT STYLE="white-space:nowrap">18f-4(f)</FONT> with respect to its TBA investments during the period.&nbsp;The Fund&#146;s TBAs were treated as derivatives
transactions for purposes of Rule <FONT STYLE="white-space:nowrap">18f-4</FONT> (see Rule <FONT STYLE="white-space:nowrap">18f-4</FONT> adopting release at footnote 123 and accompanying text). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. <U>Comment</U> (Clarion Partners Real Estate Income Fund Inc.) <I>[relates to Initial Comment 9]</I>: Please explain whether the investments in <FONT
STYLE="white-space:nowrap">non-consolidated</FONT> joint ventures should be identified as &#147;affiliates&#148; (within the meaning of the Investment Company Act of 1940, as amended) and included in an affiliates table required by Articles <FONT
STYLE="white-space:nowrap">12-14</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant
confirms that it indirectly controls 5% or more of the outstanding voting securities of the <FONT STYLE="white-space:nowrap">non-consolidated</FONT> joint ventures. As such, the <FONT STYLE="white-space:nowrap">non-consolidated</FONT> joint ventures
would be &#147;affiliated persons&#148; of the Registrant as defined in the Investment Company Act of 1940, as amended. In future filings, the Registrant confirms that it will include the <FONT STYLE="white-space:nowrap">non-consolidated</FONT>
joint ventures in the affiliates table as required by Articles <FONT STYLE="white-space:nowrap">12-14</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. <U>Comment</U> (Clarion Partners Real Estate Income Fund Inc.) <I>[relates to Initial Comment 11]</I>: Please consider disclosing in future Form <FONT
STYLE="white-space:nowrap">N-CSR</FONT> filings when it is the case that financial statements of the Mosaic at Largo JV LLC (&#147;Mosaic JV&#148;) meeting the requirements of Item <FONT STYLE="white-space:nowrap">3-09</FONT> of Regulation <FONT
STYLE="white-space:nowrap">S-X</FONT> are included in such filings. Also, please explain what accounting basis is used by the Mosaic JV LLC, citing the specific FASB reference if other than investment company ASC 946 accounting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant confirms that in future <FONT STYLE="white-space:nowrap">N-CSR</FONT> filings, it will disclose when it is the
case that financial statements of the Mosaic JV (or another significant subsidiary) meeting the requirements of Item <FONT STYLE="white-space:nowrap">3-09</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> are included in the filing.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Registrant notes that Mosaic JV is not an investment company and, therefore, is not required to follow ASC 946 accounting. As
previously described in the Registrant&#146;s response to Initial Comment No.&nbsp;11, Mosaic JV presents its financial statements using historical cost basis and follows all applicable U.S. generally accepted accounting principles and accrual basis
accounting rules. The Registrant also includes summarized financial information regarding the Mosaic JV in the Registrant&#146;s notes to the financial statements at fair value, which the Registrant believes is most useful and relevant to investors.
</P>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">6. <U>Comment</U> (Clarion Partners Real Estate Income Fund Inc.) <I>[relates to Initial Comment 13(ii)]</I>: A
response to the Initial Comment stated that &#147;[t]he Registrant typically includes a footnote to the expense table disclosing that recaptured expenses are excluded from the fee table and provides the amount of the excluded recaptured
expenses.&#148; Please clarify whether that statement is included as a general practice or whether it is included only when the Registrant has estimated that there would not likely be any amounts recaptured in the following year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant confirms that the footnote to the expense table disclosing that recaptured expenses are excluded from the fee
table is not included as a general practice. Instead, such footnote is typically only included when the current assts under management and expenses are based on the amounts disclosed in the Registrant&#146;s annual report on Form <FONT
STYLE="white-space:nowrap">N-CSR</FONT> and the Registrant estimates that there would not likely be any amounts recaptured in the following year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Specifically for the Registrant, in the prior post-effective amendment to its registration statement, the Registrant&#146;s other expenses
were estimated based on new estimates for the Registrant&#146;s assets under management, which led to recapture not being anticipated for the following year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7. <U>Comment</U> (Clarion Partners Real Estate Income Fund Inc.) <I>[relates to Initial Comment 13(iv)]</I>: Please explain why the financial highlights
included in the Registrant&#146;s registration statement on Form <FONT STYLE="white-space:nowrap">N-2</FONT> does not include the supplemental data on senior securities that appears in the Registrant&#146;s annual report on Form <FONT
STYLE="white-space:nowrap">N-CSR.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant confirms that in the next post-effective amendment to its
registration statement on Form <FONT STYLE="white-space:nowrap">N-2,</FONT> it will include the supplemental data on senior securities that appears in the financial highlights section of the Registrant&#146;s annual report on Form <FONT
STYLE="white-space:nowrap">N-CSR.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8. <U>Comment</U> (Series of Legg Mason Partners Variable Equity Trust) <I>[relates to Initial Comment 17]</I>:
Please include disclosure in a footnote on related party transactions in the Funds&#146; financial statements the terms of any payment of fees to Franklin Templeton Investor Services, its affiliated transfer agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Registrant confirms that it intends to include such disclosure in future financial statements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">9. <U>Comment</U> (General) <I>[relates to Initial Comment 18]</I>: Please confirm that applicable Fund Boards monitor the use of waivers to guard against
cross-subsidization between classes of a Fund consistent with the Commission&#146;s guidance in the adopting release for Rule <FONT STYLE="white-space:nowrap">18f-3.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Funds&#146; fee waivers and expense reimbursements are reviewed monthly by the manager to confirm that there are no
inadvertent cross-subsidizations between classes.&nbsp;In addition, the Board of Trustees of each Trust has approved the fee waiver/expense limitation arrangements and is provided updates to such arrangements on a quarterly basis. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, we confirm that the reference to &#147;Form <FONT STYLE="white-space:nowrap">N-CRS&#148;</FONT> in the response to Initial Comment 1 was a
typographical error. The intended reference was to &#147;Form <FONT STYLE="white-space:nowrap">N-CSR.&#148;</FONT> </P>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Please contact the undersigned at
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">617-951-8267</FONT></FONT> with any questions or comments you might have regarding the above. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sincerely,</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">/s/ Barry N. Hurwitz</P></TD></TR>
</TABLE></DIV>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Annex A </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="11%"></TD>

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<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Registrant</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>1940 Act</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Fund</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Fiscal Year<BR>Reviewed</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Clarion Partners Real Estate Income Fund Inc.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="white-space:nowrap">811-23408</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Clarion Partners Real Estate Income Fund Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">12/31/2022</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ROWSPAN="6">Legg Mason Partners Income Trust</TD>
<TD VALIGN="bottom" ROWSPAN="6">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ROWSPAN="6" ALIGN="center"><FONT STYLE="white-space:nowrap">811-04254</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Western Asset Managed Municipals Fund</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">2/28/2023</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Western Asset California Municipals Fund</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">2/28/2023</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Western Asset New York Municipals Fund</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">3/31/2023</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Western Asset Intermediate-Term Municipals Fund</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">3/31/2023</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Western Asset Pennsylvania Municipals Fund</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">3/31/2023</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Western Asset New Jersey Municipals Fund</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">3/31/2023</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ROWSPAN="5">Legg Mason Partners Institutional Trust</TD>
<TD VALIGN="bottom" ROWSPAN="5">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ROWSPAN="5" ALIGN="center"><FONT STYLE="white-space:nowrap">811-06740</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Western Asset SMASh Series Core Completion Fund</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">2/28/2023</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Western Asset SMASh Series TF Fund</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">2/28/2023</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Western Asset Premier Institutional U.S. Treasury Reserves</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">8/31/2022</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Western Asset Premier Institutional Government Reserves</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">8/31/2022</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Western Asset Premier Institutional Liquid Reserves</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">8/31/2022</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ROWSPAN="5">Legg Mason Partners Variable Equity Trust</TD>
<TD VALIGN="bottom" ROWSPAN="5">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ROWSPAN="5" ALIGN="center"><FONT STYLE="white-space:nowrap">811-21128</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Franklin Templeton Moderate Model Portfolio</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">12/31/2022</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Franklin Templeton Moderately Conservative Model Portfolio</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">12/31/2022</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Franklin Templeton Aggressive Model Portfolio</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">12/31/2022</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Franklin Templeton Conservative Model Portfolio</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">12/31/2022</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Franklin Templeton Moderately Aggressive Model Portfolio</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">12/31/2022</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Western Asset High Income Fund II Inc.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="white-space:nowrap">811-08709</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Western Asset High Income Fund II Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">4/30/2023</TD></TR>
</TABLE>
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