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 fourth quarter and fiscal year ended November
30, 2014.
For the fourth quarter ended November 30, 2014, the Fund's
earnings from net investment income (excluding short-term capital
gains) were $2,297,250, equal to $0.13 per share. During this
period, the Fund paid monthly distributions of $2,368,170, equal to
$0.13 per share (which may be comprised of net investment income
and return of capital). Total net realized and unrealized losses
from investment activities were $(7,755,641), equal to $(0.42) per
share, for the fourth quarter ended November 30, 2014. This
compares to earnings from net investment income (excluding
short-term capital gains) of $933,018, equal to $0.05 per share;
monthly distributions paid of $2,870,287, equal to $0.16 per share
(which were comprised of net investment income and return of
capital); and total net realized and unrealized gains from
investment activities of $2,380,920, equal to $0.13 per share, for
the fourth quarter ended November 30, 2013.
For the twelve months ended November 30, 2014, the Fund’s
earnings from net investment income (excluding short-term capital
gains) were $8,035,505, equal to $0.44 per share. During this
period, the Fund paid monthly distributions of $10,537,170, equal
to $0.58 per share (comprised of net investment income of
$8,374,665, equal to $0.46 per share, and return of capital of
$2,162,505, equal to $0.12 per share). Total net realized and
unrealized losses from investment activities were $(1,665,040),
equal to $(0.09) per share, for the twelve months ended November
30, 2014. This compares to earnings from net investment income
(excluding short-term capital gains) of $7,936,496, equal to $0.43
per share; monthly distributions paid of $12,129,339, equal to
$0.67 per share (comprised of net investment income of $5,866,970,
equal to $0.33 per share, and return of capital of $6,262,369,
equal to $0.34 per share); and total net realized and unrealized
losses from investment activities of $(17,148,243), equal to
$(0.93) per share, for the twelve months ended November 30, 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 November 30, 2014, total net assets of the Fund were
$186,018,220. The net asset value per share was $10.19, based on
18,258,828 shares outstanding, which represents a decrease of 2.21%
from the net asset value per share of $10.42, ($190,184,925
attributable to 18,258,828 shares outstanding) on November 30,
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 2015. All rights reserved. The key symbol and UBS are among
the registered and unregistered trademarks of UBS.
UBS Global Asset Management Closed-End Funds Desk: 888-793
8637ubs.com
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