Strategic Global Income Fund, Inc. - Announces Reduction of Contractual Advisory Fees
NEW YORK--(BUSINESS WIRE)--
Strategic Global Income Fund, Inc. (the "Fund") (NYSE:SGL) is 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 US and foreign debt
The Fund today announced that its Board of Directors has approved a
reduction in the contractual investment advisory and administration fee
paid to UBS Global Asset Management (Americas) Inc. ("UBS Global AM"),
the Fund's investment advisor and administrator.
Pursuant to its advisory contract with UBS Global AM (the "Advisory
Contract"), the Fund had agreed to pay UBS Global AM an investment
advisory and administration fee, accrued weekly and paid monthly, at the
annual rate of 1.00% of the Fund's average weekly net assets.
UBS Global AM had, since August 2009, voluntarily waived a portion of
the fee it received under the Advisory Contract to reduce the annual
rate to 0.95% of the Fund's average weekly net assets.
Effective August 1, 2014, the contractual fee rate under the Advisory
Contract is being changed from 1.00% to 0.85% of the Fund's average
weekly net assets. Given the new, lower contractual fee rate, the
voluntary year-to-year arrangements are now replaced by the ongoing
contractual fee at the 0.85% rate.
Investing in the Fund entails specific risks, such as interest rate,
credit and the risks associated with investing in the securities of
non-US issuers, including those located in emerging market countries.The value of the Fund's investments in foreign securities may fall
due to adverse political, social and economic developments abroad and
due to decreases in foreign currency values relative to the US
dollar. Further detailed information regarding the Fund, including a
discussion of principal objectives, principal investment strategies and
principal risks, may be found in the fund overview located at http://www.ubs.com/closedendfundsinfo.
You may also request copies of the fund overview by calling the
Closed-End Funds Desk at 888-793 8637.
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Source: Strategic Global Income Fund, Inc.