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The Western Asset Global High Income Fund offers a 14%+ yield but faces significant distribution coverage shortfalls, raising the risk of a cut. EHI now trades at an over 9% discount, making entry more attractive, though not at a historical extreme; further discount widening is possible if a cut occurs. The fund's portfolio is heavily tilted toward below-investment-grade and emerging market debt, but broad diversification across nearly 400 holdings.
We review the CEF market valuation and performance through the fourth week of April and highlight recent market action. CEF markets faced renewed risk aversion, with sector discounts widening to historical averages and MLPs and Convertibles led to the upside. Western Asset CEFs' NII remained largely stable; key drivers include short-term rate direction, liability management, and overdistribution.
NEW YORK--(BUSINESS WIRE)--Category: Financials.
GraniteShares Advisors LLC acquired a new position in shares of Western Asset Global High Income Fund Inc. (NYSE: EHI) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 426,368 shares of the company's stock, valued at approximately $2,733,000. Western Asset Global High Income Fund
NEW YORK--(BUSINESS WIRE)--Category: Fund Announcement.
GraniteShares Advisors LLC acquired a new stake in Western Asset Global High Income Fund Inc. (NYSE: EHI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 426,368 shares of the company's stock, valued at approximately $2,733,000. Western Asset Global High Income
Western Asset Global High Income Fund offers high-yield exposure with a 13.15% distribution yield, but coverage is weak, which adds some uncertainty. EHI's discount has widened a bit since our prior update, yet remains near its five-year average; a deeper discount would make entry more attractive. The fund's portfolio blends corporate high-yield and emerging market debt, resulting in higher duration and interest rate sensitivity.
NEW YORK--(BUSINESS WIRE)--Category: Fund Announcement.