SCHEDULE 14A
(Rule 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
(Amendment No. )
Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐
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☐ | Preliminary Proxy Statement | |
☐ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) | |
☐ | Definitive Proxy Statement | |
☒ | Definitive Additional Materials | |
☐ | Soliciting Material Pursuant to Section 240.14a-11(c) or Section 240.14a-12 |
WESTERN ASSET GLOBAL HIGH INCOME FUND INC.
(Name of Registrant as Specified in Its Charter)
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May 22, 2020
Time is Short, and Our Records Indicate You Have Not Voted Your Shares. Your Vote is Needed to Ensure that the Fund Can Continue to Operate
The Western Asset Global High Income Fund Inc. (the “Fund”) Special Meeting of Shareholders is quickly approaching. Ahead of the meeting scheduled to be held on June 5, 2020, you are being asked to vote to approve new agreements1 between the Fund and its investment manager and subadvisers that willenable the Fund to continue to operate and deliver the returns you rely on.
Vote Today to Support the Management Team that is Committed to Enhancing Shareholder Value
Vote“FOR” the new agreements with the Fund’s investment manager and subadvisers that are building on the Fund’s proven track record of significant value creation by…
Delivering a 1-year annualized distribution2 of9.56% as of April 30, 2020, an increase from 7.66% as of the same period in 2019 | Delivering 5- and 10-year annualized total returns2 of3.80% and6.03%, respectively, above its benchmark3 averages of 3.46% and 5.00% over the same time periods | Outperforming2 Lipper Peer Group4 averages across key timeframes, including1.14% vs. -1.39% on a 3-year basis,3.80% vs. 2.24% on a 5-year basis, 2.21% vs. 1.30% on a 7-year basis, and6.03% vs. 5.15% on a 10-year basis | ||||||||||||||
If these new agreements are not approved, the Fund may be forced to liquidate, which could result in serious negative implications for long-term shareholders such as a significant loss of shareholder value, the discontinuation of the Fund’s distributions and negative tax consequences.Remember, a failure to vote is the same as voting against the new agreements.
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Protect the Value of Your Investment — Vote the WHITE Proxy Card Today |
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The Fund’s Board of Directors unanimously recommends that you vote on the WHITE proxy card“FOR”the approval of the new management agreement for the Fund’s investment manager and the new subadvisory agreement for the Fund’s subadvisers to ensure shareholders receive uninterrupted value.
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Your Vote is Important, No Matter How Many or How Few Shares You Own | ||||||||
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You can vote by internet, telephone or by signing and dating the WHITE proxy card and mailing it in the envelope provided. | ||||||||
If you have any questions about how to vote your shares or need additional assistance, please contact:
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Innisfree M&A | Shareholders Call Toll Free: (877) 750-0537 | |||||||
Incorporated | Banks and Brokers Call: (212) 750-5833 | |||||||
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| REMEMBER
We urge youNOT to vote using any other colored proxy card as doing so will revoke your vote on the WHITE proxy card.
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Notes | ||||
1 Due to the “change of control” resulting from the pending combination of Legg Mason Inc. (“Legg Mason”), the parent company of the Fund’s investment manager and subadvisers, and Franklin Resources, Inc., a global investment management organization operating as Franklin Templeton.
2 Based on market price for the period ended April 30, 2020.
3 The benchmark is based on a blend, in equal parts, of the Bloomberg Barclays U.S. Corporate High Yield — 2% Issuer Cap Index, the Bloomberg Barclays U.S. Aggregate Index, and the JPMorgan Emerging Markets Bond Index Global (EMBI Global). Additional information about the indexes can be found in the Fund’s annual shareholder report. Additional information about the Fund’s performance and about the history of the Board and the Fund’s management generating strong investor returns is included in the Fund’s Proxy Statement and in the Fund’s annual shareholder report.
4 The Fund’s Lipper peer group refers to the peer group of high-yield, levered closed-end funds as selected by Lipper, an independent nationally recognized provider of investment company information. | ||||
Forward Looking Statement
Past performance is no guarantee of future results. The information provided is not intended to be a forecast of future events, a guarantee of future results or investment advice.
All investments are subject to risk including the possible loss of principal. All benchmark performance reflects no deduction for fees, expenses or taxes. Please note that an investor cannot invest directly in a benchmark. |