BrandywineGLOBAL - Global Income Opportunities Fund Inc. (BWG or “the Fund”; CUSIP: 10537L104) Announces Notification of Sources of Distributions

Rhea-AI Summary

BrandywineGLOBAL - Global Income Opportunities Fund Inc. (NYSE: BWG) has announced its October 2024 distribution details. The Fund will distribute $0.0800 per share, comprising 53.65% from net investment income and 46.35% from return of capital. For fiscal year 2024 to date, the total distribution is $0.8800 per share. The Fund's performance metrics show a 1.00% average annual total return over five years, a 9.96% annualized distribution rate, and a 26.35% cumulative total return for the fiscal period. The Fund maintains a managed distribution policy aimed at delivering long-term total return potential through monthly distributions.

Positive

• 26.35% cumulative total return for the fiscal period
• 9.96% annualized distribution rate
• Consistent monthly distribution of $0.0800 per share

Negative

• 46.35% of current distribution represents return of capital, not actual earnings
• Low 1.00% average annual total return over five years
• Fund is distributing more than its income and realized capital gains

Insights

Financial Analyst

This distribution announcement reveals important insights about BWG's financial health and strategy. The fund's $0.08 monthly distribution comprises 53.65% from net investment income and 46.35% from return of capital, indicating potential sustainability concerns. The 9.96% annualized distribution rate appears attractive, but the 1% 5-year average annual total return suggests underlying performance challenges. The significant return of capital component signals the fund is paying out more than it earns, potentially eroding investor capital over time. The 26.35% cumulative total return for the fiscal period presents a notably strong short-term performance, though this should be viewed in context of longer-term metrics.

NEW YORK--(BUSINESS WIRE)-- BrandywineGLOBAL - Global Income Opportunities Fund Inc. [NYSE: BWG]

Notification of Sources of Distributions

Pursuant to Section 19(a) of the Investment Company Act of 1940

The Fund’s estimated sources of the distribution to be paid on November 1, 2024, and for the fiscal year 2024 year-to-date are as follows:

Estimated Allocations for the October Monthly Distribution as of September 30, 2024:

Distribution Per Share	Net Investment Income	Net Realized Short-Term Capital Gains	Net Realized Long-Term Capital Gains	Return of Capital
$0.0800	$0.0429	$0.0000	$0.0000	$0.0371
100.00%	53.65%	0.00%	0.00%	46.35%

Cumulative Estimated Allocations fiscal year-to-date as of September 30, 2024, for the fiscal year ending October 31, 2024:

Distribution Per Share	Net Investment Income	Net Realized Short-Term Capital Gains	Net Realized Long-Term Capital Gains	Return of Capital
$0.8800	$0.4721	$0.0000	$0.0000	$0.4079
100.00%	53.65%	0.00%	0.00%	46.36%

Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution or from the terms of the Plan. BWG estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the BWG distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect BWG’s investment performance and should not be confused with ‘yield’ or ‘income’. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund’s distributions for federal income tax purposes.

Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5- year period ended on 9/30/2024)1	Annualized Distribution Rate (as a percentage of NAV as of 9/30/2024)2	Cumulative Total Return (in relation to the change in NAV for the fiscal period through 9/30/2024)3	Cumulative Fiscal Year-To-Date Distribution Rate (as a percentage of NAV as of 9/30/2024)4
1.00%	9.96%	26.35%	9.13%

Fund Performance and Distribution Rate Information:

1. Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through September 30, 2024. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year, assuming reinvestment of distributions paid.
2. The Annualized Distribution Rate is the current fiscal period’s distribution rate annualized as a percentage of the Fund’s NAV as of September 30, 2024.
3. Cumulative Total Return is the percentage change in the Fund’s NAV from October 31, 2023 through September 30, 2024, assuming reinvestment of distributions paid.
4. The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the fiscal period October 31, 2023 through September 30, 2024, as a percentage of the Fund’s NAV as of September 30, 2024.

This Fund has a managed distribution policy that seeks to deliver the Fund’s long-term total return potential through regular monthly distributions declared at a fixed rate per common share. Distributions may be paid in part or in full from net investment income, realized capital gains and by returning capital, or a combination thereof. Shareholders should note, however, that if a Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund’s assets and will constitute a return of the shareholder’s capital. A return of capital is not taxable; rather it reduces a shareholder’s tax basis in his or her shares of the Fund. The Board of Directors of the Fund may terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the Fund’s shares.

For further information on BrandywineGLOBAL - Global Income Opportunities Fund Inc., please visit our web site at: www.franklintempleton.com/investments/options/closed-end-funds

Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Funds.

Category: Distribution Related

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

View source version on businesswire.com: https://www.businesswire.com/news/home/20241101419357/en/

Investor Contact: Fund Investor Services 1-888-777-0102

Source: Franklin Resources, Inc. and Legg Mason Closed End Funds

FAQ

What is BWG's current monthly distribution amount for November 2024?

BWG's monthly distribution amount for November 2024 is $0.0800 per share.

What is BWG's five-year average annual total return as of September 2024?

BWG's five-year average annual total return as of September 30, 2024, is 1.00%.

How much of BWG's current distribution comes from return of capital?

46.35% of BWG's current distribution represents return of capital.

What is BWG's annualized distribution rate as of September 2024?

BWG's annualized distribution rate as of September 30, 2024, is 9.96% of NAV.