Declares Distribution, Announces Portfolio Statistics
UBS Global Asset Management
New York, July 11, 2005--Strategic Global Income Fund, Inc. ("Fund") (NYSE: SGL), a non-diversified, closed-end management investment company seeking a high level of current income as a primary objective and capital appreciation as a secondary objective through investments in U.S. and foreign debt securities, today announced that the Fund's Board of Directors declared a regular monthly distribution of $0.0790 per share. The distribution is payable on July 29, 2005 to shareholders of record as of July 21, 2005. The ex-dividend date is July 19, 2005.
The Fund adopted a managed distribution policy in May 1998, which was revised effective January 2000 and 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. Based on information available at this time, the Fund estimates that portions of the current regular monthly distribution may be comprised of net investment income and capital gain distributions. Further information regarding the estimated sources of the current regular monthly distribution will be provided around month-end; however, information provided will be an estimate and subject to change based on the Fund's investment experience during the remainder of its fiscal year.
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 taxable income, the amount of that excess would constitute a return of capital for tax purposes. From time to time, the Fund may project that a portion of a 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 in January of each year 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 AM 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.
Strategic Global Income Fund, Inc.
Portfolio Statistics (% of net assets) as of June 30, 2005:(a)
Asset Allocation by Currency Currency Exposure
----------------------------------------------- ----------------------
Investment Grade Debt 66.2% U.S. Dollar 50.6%
----------------------------------------- Euro & Euro Area 27.2
Non-U.S. Dollar Denominated 32.2% Japanese Yen 10.8
----------------------------------------- Other 11.4
Germany 10.6
France 5.3 ----------------------
Malaysia 4.5 Total 100.0%
Austria 2.6
Poland 2.1
Other 7.1
U.S. Dollar Denominated 34.0% Characteristics
----------------------------------------- ----------------------
Emerging Markets Debt 11.0 Market Yield(b) 7.35%
U.S. Securitized Debt 7.2 NAV Yield(b) 7.96%
U.S. Corporate Debt 9.1 Modified
U.S. Treasuries & Agencies 6.7 Duration(c) 4.60%
Market
Price(b) $12.89
Net Asset
Value(b) $11.91
Non-Investment Grade U.S. Dollar
Dollar-Denominated Debt 24.4% Credit Quality
----------------------------------------- ----------------------
Argentina 6.5 Agency/Treasury 6.7%
United States 6.3 AAA/Aaa 28.8
Brazil 5.1 AA/Aa 2.2
Other (less than 3% of net assets A/A 12.2
per currency) 6.5 BBB/Baa 16.3
Non-Investment Grade Non-USD 5.5% BB/Ba 8.8
B/B 8.3
CCC/Caa 4.9
Not Rated 7.9
Cash & Cash Equivalents 3.9% Cash 3.9
----------------------
----------------------------------------------- Total 100.0%
Total 100.0%
(a) The Fund is actively managed, and its portfolio composition will
vary over time.
(b) Net asset value (NAV), market price and yields will fluctuate.
Market yield is calculated by multiplying the current month's
distribution by 12 and dividing by the month-end market price. NAV
yield is calculated by multiplying the current month's
distribution by 12 and dividing by the month-end net asset value.
(c) US interest rate duration |
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