EHI - Western Asset Global High Income Fund Inc. Announces Financial Position as of February 28 2025

Western Asset Global High Income Fund Inc. (NYSE: EHI) reported its financial position as of February 28, 2025, showing a total asset value of approximately $311.77 million, an increase from $308.19 million in the previous quarter (November 30, 2024) and a significant rise from $247.87 million year-over-year (February 29, 2024). However, total net assets decreased to $210.71 million from $213.45 million in the prior quarter, reflecting ongoing borrowing strategies used by the fund.

The net asset value (NAV) per share fell to $6.95, down from $7.04 in the previous quarter, and $7.37 a year earlier. The market price per share slightly increased to $6.74, compared to $6.73 previously, leading to a premium/discount of -3.02%. The fund currently has a consistent outstanding share count of 30,299,742.

Total net investment income was recorded at approximately $3.95 million, reflecting a modest rise from $3.54 million quarter-over-quarter and $3.43 million year-over-year. However, the fund realized a net loss of $323,068 in investment gains, a stark contrast to a gain of $302,404 in the previous quarter. Consequently, the net increase in net assets from operations was reported at $3.62 million, down from $3.84 million last quarter and substantially lower than $9.11 million a year prior.

The fund continues to show an overdistributed net investment income of nearly $7.88 million, with a per-share figure of -$0.26. Additionally, borrowing reached $75 million, increased from $70 million in the previous quarter, indicating a strategic approach to leveraging market opportunities.

Investors may access further details or financial documents through the SEC's website or by contacting Fund Investor Services directly. Overall, while the fund demonstrated growth in assets, it faced challenges with both net assets and returns on investment activity.

As of February 28, 2025, the Western Asset Global High Income Fund Inc. (EHI) presented a mixed financial outlook that warrants careful consideration for potential and current investors.

Total assets increased to approximately $311.77 million from $308.19 million in the previous quarter, indicating robust asset management practices. However, total net assets experienced a slight decline, falling from $213.45 million to $210.71 million, a point of concern given the backdrop of a challenging market environment.

The net asset value (NAV) per share decreased to $6.95, down from $7.04, reinforcing that the premium/discount situation is becoming less favorable. Currently, shares are trading at a discount of about 3.02% compared to the NAV, which may create a more attractive entry point for value-focused investors. Historically, EHI’s shares have traded at a premium, but the shift toward discount trading could indicate broader market sentiment or investor positioning adjustments.

The fund's ability to generate income remains a positive aspect, with a total net investment income of $3.95 million, reflecting a steady earnings per share of $0.13, up from the previous $0.12. However, the net realized/unrealized losses of $323,068 in the recent quarter signal volatility and potential risks in the portfolio's performance.

Notably, the loan outstanding has increased to $75 million, suggesting a leveraged strategy that might enhance returns but also adds to risk. Management should be scrutinized for its ability to effectively navigate this leverage amidst fluctuating interest rates.

In summary, while EHI shows potential for income generation and strategic asset management, investors should remain cautious due to declining NAV and realized losses. Consideration should also be given to market conditions and an assessment of the fund’s positioning as market dynamics evolve. Investors might look for opportunities to acquire shares at a discounted rate while being mindful of associated risks.