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 fiscal third quarter ended and fiscal
year-to-date ended August 31, 2008.
For the fiscal third quarter ended August 31, 2008, the Fund's earnings
from net investment income (excluding short-term capital gains) were
$3,889,797, equal to $0.21 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 $4,194,053,
equal to $0.23 per share. Total net realized and unrealized losses from
investment activities were $(5,436,310), equal to $(0.30) per share, for
the same period. This compares to earnings from net investment income of
$3,521,065, equal to $0.19 per share; monthly distributions paid from
net investment income of $4,181,272, equal to $0.23 per share; and total
net realized and unrealized losses from investment activities of
$(5,542,526), equal to $(0.30) per share, for the fiscal third quarter
ended August 31, 2007.
For the nine months ended August 31, 2008, the Fund's earnings from net
investment income (excluding short-term capital gains) were $9,057,339,
equal to $0.50 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 $12,636,935, equal
to $0.69 per share. Additionally, in December 2007, the fund paid
year-end distributions of long-term capital gains of $1,433,318, equal
to $0.08 per share. Total net realized and unrealized losses from
investment activities were $(1,011,528), equal to $(0.06) per share, for
the same period. This compares to earnings from net investment income
(excluding short-term capital gains) of $8,784,758 equal to $0.48 per
share; distributions paid from net investment income of $12,766,573,
equal to $0.70 per share; and total net realized and unrealized losses
from investment activities of $(6,725,647), equal to $(0.37) per share,
for the nine months ended August 31, 2007.
On August 31, 2008, total net assets of the Fund were $202,041,073. The
net asset value per share was $11.07, based on 18,258,828 shares
outstanding, which represents a decrease of 1.77% from the net asset
value per share of $11.27, ($205,690,993 attributable to 18,258,828
shares outstanding) on August 31, 2007.
The Fund adopted a managed distribution policy in May 1998, which was
revised effective January 2000 and again in May 2005. Pursuant to the
policy as currently in effect, the Fund makes regular monthly
distributions at an annualized rate equal to 8% of the Fund’s
net asset value, as determined as of the last day on which the New York
Stock Exchange is open for trading during the first week of that month.
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 gain for
tax purposes. From time to time, the Fund may project that a portion of
a monthly distribution may consist of a return of capital based on
information available at that time. Such an estimate is subject to
change based on the Fund’s investment
experience during the remainder of its fiscal year. 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 and may be subject to
retroactive recharacterization at the end of the Fund’s
fiscal year based on tax regulations. The actual amounts attributable to
each of the sources will be reported to each shareholder next January on
Form 1099-DIV.
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; any such change or termination may have an adverse effect on the
market price for the Fund’s shares.
UBS Global Asset Management
Closed-End Funds Desk,
888-793-8637
