Welcome to our dedicated page for Western Asset Global High news (Ticker: EHI), a resource for investors and traders seeking the latest updates and insights on Western Asset Global High stock.
Overview of Western Asset Global High Income Fund Inc. (EHI)
Western Asset Global High Income Fund Inc. (EHI) is a closed-end investment fund that specializes in global fixed-income securities. Managed by Western Asset Management Company, a subsidiary of Franklin Resources, Inc., EHI is dedicated to delivering consistent income to its shareholders by leveraging a diversified portfolio of high-yield bonds, corporate debt, and sovereign securities from both developed and emerging markets. As part of the Franklin Templeton family, EHI benefits from the extensive expertise and resources of one of the world's leading asset management firms.
Core Investment Strategy
The fund's primary objective is to provide shareholders with a high level of current income. To achieve this, EHI employs a disciplined investment approach that focuses on identifying undervalued fixed-income opportunities across global markets. The fund's portfolio is actively managed to balance risk and return, incorporating rigorous credit analysis and macroeconomic insights. By diversifying across sectors, geographies, and credit qualities, EHI aims to mitigate risks associated with interest rate fluctuations and credit defaults while optimizing yield generation.
Market Position and Differentiation
EHI operates within the competitive landscape of closed-end funds, which includes peers offering similar income-focused investment strategies. However, EHI distinguishes itself through its global reach and emphasis on high-yield fixed-income securities. Its connection to Western Asset Management Company, a renowned fixed-income specialist, provides the fund with a competitive edge in terms of research capabilities, portfolio construction, and risk management. This expertise positions EHI as a compelling choice for investors seeking diversified income solutions with exposure to international markets.
Challenges and Risk Management
Like all fixed-income investment vehicles, EHI faces challenges such as interest rate volatility, currency fluctuations, and credit risk. The fund's active management approach is designed to navigate these challenges by adjusting portfolio allocations in response to changing market conditions. Additionally, EHI's global diversification helps reduce the impact of localized economic or geopolitical events, further enhancing its resilience in volatile markets.
Competitive Landscape
Within the closed-end fund space, EHI competes with other income-focused funds, including those managed by firms such as BlackRock, PIMCO, and Nuveen. Its ability to differentiate lies in its specialized focus on global high-yield securities and the expertise of Western Asset Management Company. By leveraging its parent company's deep understanding of fixed-income markets, EHI is well-positioned to deliver value to its shareholders over the long term.
Conclusion
Western Asset Global High Income Fund Inc. (EHI) is a specialized closed-end fund offering investors access to a diversified portfolio of global fixed-income securities. With a focus on generating consistent income and leveraging the expertise of Western Asset Management Company, EHI provides a compelling investment option for those seeking exposure to high-yield opportunities across international markets. Its disciplined investment approach, combined with strategic diversification and active risk management, underscores its commitment to delivering value to its shareholders.
Western Asset Global High Income Fund Inc. (NYSE: EHI) has released its financial position as of August 31, 2024. The Fund reported total assets of $256,184,509 and total net assets of $165,685,669. The Net Asset Value (NAV) per share stood at $7.29, with a market price of $7.09, representing a discount of 2.74%. Total net investment income for the quarter was $3,258,273, while total net realized/unrealized gain was $4,215,730. The Fund's outstanding shares remained steady at 22,724,807, with a loan outstanding of $70,000,000 and reverse repurchase agreements of $18,083,398.
Western Asset Global High Income Fund Inc. (NYSE: EHI) announced the results of its annual meeting of stockholders held on October 18, 2024. Nisha Kumar and Jane Trust were elected as Class II Directors to serve until the 2027 annual meeting. Stockholders also ratified PricewaterhouseCoopers LLP as the Fund's independent registered public accountants for the fiscal year ending May 31, 2025.
The Fund is a non-diversified closed-end management investment company managed by Franklin Templeton Fund Adviser, and subadvised by Western Asset Management Company, and its foreign-based affiliates. Both management companies are indirect wholly-owned subsidiaries of Franklin Resources Inc., operating as Franklin Templeton.
Western Asset Global High Income Fund Inc. (NYSE: EHI) has announced the final results of its transferable rights offering. The offer expired on October 8, 2024, with a final subscription price of $6.60 per share, equal to 90% of the Fund's net asset value per share at the close of trading on that day. The offering will result in the issuance of 7,574,935 new shares of common stock, with expected gross proceeds of approximately $50.0 million.
The new shares are expected to be issued around October 16, 2024. EHI will return any excess payments to subscribing investors. The Fund cautioned that closed-end investment companies often trade at a discount from their net asset value, and that market price is influenced by various factors beyond the Fund's control.
Western Asset Global High Income Fund Inc. (NYSE: EHI) has completed its transferable rights offering, which expired on October 8, 2024. The offer was oversubscribed and is expected to result in the issuance of 7,574,935 shares of common stock, generating anticipated gross proceeds of approximately $50.0 million. The subscription price per share is $6.60, equal to 90% of the Fund's net asset value per share at the close of trading on the expiration date.
The Fund issued one transferable right for each common share held by stockholders of record as of September 9, 2024. Holders could purchase shares by submitting three rights and the subscription price per share. The new shares are expected to be issued around October 15, 2024, after completing the allocation of oversubscription shares and receiving all shareholder payments.
Western Asset Global High Income Fund Inc. (NYSE: EHI) has announced a transferable rights offering to acquire additional shares of common stock. The offer aims to benefit the Fund and its stockholders by increasing assets, potentially improving the expense ratio, and enhancing stock liquidity. Key terms include:
- One transferable right for each share held on September 9, 2024
- Three rights plus subscription price required to purchase one additional share
- Subscription price set at 92.5% of average last reported sales price over 5 days
- Over-subscription privilege for record date stockholders
- Rights expected to trade on NYSE from September 6, 2024
- Offer expires on October 8, 2024
The final terms will be detailed in a prospectus supplement and accompanying prospectus.
Western Asset Global High Income Fund (NYSE: EHI) announces updates to its portfolio management team, effective June 3, 2024. The new team comprises Michael Buchanan, Ryan Brist, Ian Edmonds, Walter Kilcullen, and Christopher Kilpatrick. Concurrently, Chia-Liang (CL) Lian will no longer serve as a portfolio manager. The Fund's shares, traded on the NYSE, are subject to market fluctuations and may trade at a discount to their net asset value, increasing investment risk. This announcement is purely informational, and Franklin Resources and its affiliates do not sell shares of the Fund.
For more details, investors can contact Fund Investor Services at 1-888-777-0102 or visit the Fund's website.
Western Asset Global High Income Fund Inc. (EHI) disclosed its financial position as of February 29, 2024, showing total assets of $247.87 million, total net assets of $167.37 million, NAV per share of $7.37, and market price per share of $7.08. The fund reported total net investment income of $3.43 million and a net increase in net assets from operations of $9.11 million. Despite a slight decrease in market price, the fund showcased a positive financial performance.
FAQ
What is the current stock price of Western Asset Global High (EHI)?
What is the market cap of Western Asset Global High (EHI)?
What is Western Asset Global High Income Fund Inc. (EHI)?
What is the primary investment strategy of EHI?
Who manages Western Asset Global High Income Fund Inc.?
What are the key risks associated with EHI?
How does EHI differentiate itself from competitors?
What types of securities does EHI invest in?
What is the primary objective of EHI?
What role does Western Asset Management Company play in EHI?
What makes EHI a compelling investment option?
