Strategic Global Income Fund, Inc. (the “Fund”) (NYSE:SGL), a
non-diversified, closed-end management investment company seeking
high current income and secondarily, capital appreciation through
investments in US and foreign debt securities, today announced its
performance for the third quarter and fiscal year-to-date ended
August 31, 2014.
For the third quarter ended August 31, 2014, the Fund's earnings
from net investment income (excluding short-term capital gains)
were $2,113,022, equal to $0.12 per share. During this period, the
Fund paid monthly distributions (which may be comprised of net
investment income, net realized capital gains, and/or return of
capital) of $2,421,121, equal to $0.13 per share. Total net
realized and unrealized gains from investment activities were
$223,092, equal to $0.01 per share, for the third quarter ended
August 31, 2014. This compares to earnings from net investment
income (excluding short-term capital gains) of $2,301,216, equal to
$0.13 per share; monthly distributions paid (which were comprised
of net investment income and return of capital) of $2,925,065,
equal to $0.16 per share; and total net realized and unrealized
losses from investment activities of $(12,740,344), equal to
$(0.70) per share, for the third quarter ended August 31, 2013.
For the nine months ended August 31, 2014, the Fund’s earnings
from net investment income (excluding short-term capital gains)
were $5,738,255, equal to $0.31 per share. During this period, the
Fund paid monthly distributions (which may be comprised of net
investment income, net realized capital gains and/or return of
capital) of $8,169,000, equal to $0.45 per share. Total net
realized and unrealized gains from investment activities were
$6,090,601, equal to $0.33 per share, for the nine months ended
August 31, 2014. This compares to earnings from net investment
income (excluding short-term capital gains) of $7,003,478, equal to
$0.38 per share; monthly distributions paid (which were comprised
of net investment income and return of capital) of $9,259,052,
equal to $0.51 per share; and total net realized and unrealized
losses from investment activities of $(19,529,163), equal to
$(1.07) per share, for the nine months ended August 31, 2013.
Additionally, in December 2012, the Fund paid year-end
distributions of long-term capital gains of $2,083,332, equal to
$0.11 per share.
On August 31, 2014, total net assets of the Fund were
$193,844,781. The net asset value per share was $10.62, based on
18,258,828 shares outstanding, which represents an increase of
2.21% from the net asset value per share of $10.39, ($189,741,274
attributable to 18,258,828 shares outstanding) on August 31,
2013.
The Fund adopted a managed distribution policy (“Policy”) in May
1998. Pursuant to the policy as currently in effect, the Fund makes
regular monthly distributions at an annualized rate equal to 5% of
the Fund’s net asset value, determined as of the last day on which
the New York Stock Exchange is open for trading during the first
week of that month. (Pursuant to the Policy with respect to
distributions paid from June 2011 through the monthly distribution
for May 2014, the annualized rate had been 6%, which, consistent
with the policy, in any given month may have been comprised of a
combination of net investment income, capital gains, and/or a
return of capital.) An investor should not draw any conclusions
about the Fund’s investment performance from the amount of the
monthly distribution or from the terms of the Fund’s managed
distribution policy.
To the extent that the Fund’s taxable income in any fiscal year
exceeds the aggregate amount distributed based on a fixed
percentage of its net asset value, the Fund would make an
additional distribution in the amount of that excess near the end
of the fiscal year. To the extent that the aggregate amount
distributed by the Fund based on a fixed percentage of its net
asset value exceeds its current and accumulated earnings and
profits, the amount of that excess would constitute a return of
capital or net realized capital gains for tax purposes. A return of
capital may occur, for example, when some or all of the money that
shareholders invested in the Fund is deemed to be paid back to
shareholders. A return of capital distribution does not necessarily
reflect the Fund’s investment performance and should not be
confused with “yield” or “income.”
The Fund periodically issues notices to shareholders and press
releases estimating the source characteristics of its monthly
distributions. The amounts and sources reported are only estimates
and are not being provided for tax reporting purposes. The actual
amounts and sources of the amounts for accounting and tax reporting
purposes will depend upon the Fund’s investment experience during
the remainder of its fiscal year and may be subject to retroactive
changes based on tax regulations. The actual sources of the Fund’s
regular monthly distributions may be net investment income, net
realized capital gains, return of capital or a combination of the
foregoing. The Fund sends shareholders a Form 1099-DIV (or a
financial intermediary should provide a shareholder with similar
information) for the calendar year that will tell shareholders how
to report these distributions for federal income tax purposes.
Monthly distributions based on a fixed percentage of the Fund’s
net asset value may require the Fund to make multiple distributions
of long-term capital gains during a single fiscal year. The Fund
has received exemptive relief from the Securities and Exchange
Commission that enables it to do so. The Fund’s Board receives
recommendations from UBS Global Asset Management (Americas) Inc.,
the Fund’s investment advisor, periodically and no less frequently
than annually will reassess the annualized percentage of net assets
at which the Fund’s monthly distributions will be made. The Fund’s
Board may change or terminate the managed distribution policy at
any time without prior notice to Fund shareholders; any such change
or termination may have an adverse effect on the market price for
the Fund’s shares.
Any performance information reflects the deduction of the Fund’s
fees and expenses, as indicated in its shareholder reports, such as
investment advisory and administration fees, custody fees, exchange
listing fees, etc. It does not reflect any transaction charges that
a shareholder may incur when (s)he buys or sells shares (e.g., a
shareholder’s brokerage commissions).
Investing in the Fund entails specific risks, such as
interest rate, credit and the risks associated with investing in
the securities of non-US issuers, including those located in
emerging market countries. The value of the Fund’s investments in
foreign securities may fall due to adverse political, social and
economic developments abroad and due to decreases in foreign
currency values relative to the US dollar. Further detailed
information regarding the Fund, including a discussion of principal
objectives, principal investment strategies and principal risks,
may be found in the fund overview located at
http://www.ubs.com/closedendfundsinfo. You may also
request copies of the fund overview by calling the Closed-End Funds
Desk at 888-793-8637.
©UBS 2014. All rights reserved.
The key symbol and UBS are among the registered and unregistered
trademarks of UBS.
UBS Global Asset ManagementClosed-End Funds Desk:
888-793-8637ubs.com
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