FOR IMMEDIATE RELEASE
Leading Independent Proxy Advisory Firms ISS and Glass Lewis Recommend
BrandywineGLOBAL – Global Income Opportunities Fund Inc. Shareholders Vote to Approve New
Agreements Between the Fund and its Investment Manager and Subadviser
NEW YORK – May 26, 2020 – BrandywineGLOBAL – Global Income Opportunities Fund Inc. (NYSE: BWG) (the “Fund”) today announced that Institutional Shareholder Services (“ISS”) and Glass Lewis & Co. (“Glass Lewis”), two of the leading independent proxy advisory firms, recommend that shareholders vote to approve the new agreements between the Fund and its investment manager and subadviser.
With respect to the new management agreement, in their reports dated May 20, 2020, and May 21, 2020, respectively, ISS and Glass Lewis noted1:
| • | | “Given that the fund has delivered positive absolute returns to its shareholders; outperformed peers; and that the fund’s discount has narrowed in recent months, shareholder support for the new management agreement is warranted...”ISS report dated May 20, 2020 |
| • | | “Shareholders should note that the terms of the new management and subadvisory agreements are substantially identical to the terms of the current agreements, and that there will be no change to the existing management fee structure of each of the Funds as a direct result of these proposals.”Glass Lewis report dated May 21, 2020 |
With respect to the new subadvisory agreement, in their reports dated May 20, 2020, and May 21, 2020, respectively, ISS and Glass Lewis noted1:
| • | | “A vote FOR this proposal is warranted given that the investment advisory fees paid by the fund will not be affected by implementation of the newsub-advisory agreements; and the fund will continue to be managed by the same personnel.”ISS report dated May 20, 2020 |
| • | | “Glass Lewis believes that the new investmentsub-advisory agreement is in the best interests of shareholders, who should directly benefit from the services and duties of the Adviser.”Glass Lewis report dated May 21, 2020 |
“We are pleased that ISS and Glass Lewis recognize that approval of the new agreements between the Fund and its investment manager and subadviser is in the best interest of all shareholders,” said Jane Trust, Chairman, President and Chief Executive Officer of BrandywineGLOBAL – Global Income Opportunities Fund Inc. “The Fund’s investment manager and subadviser have enabled the Fund to outperform2 its benchmark3 and peers4 and increase distributions to shareholders. We encourage shareholders to follow the recommendation of the Fund’s Board of Directors, ISS and Glass Lewis by voting “FOR” the new agreements to ensure the Fund continues to operate and deliver the returns they rely on.”
The BrandywineGLOBAL – Global Income Opportunities Fund Inc. management team has a proven track record of achieving the Fund’s objectives, including:
| • | | Delivering a1-year annualized distribution2 of7.52% as of April 30, 2020, an increase from 6.70% as of the same period in 2019 |
| • | | Delivering1-year annualized total returns2 of8.41%, above its benchmark3 average of 6.54% over the same time period |
1 Permission to use quotations neither sought nor obtained.
2 Returns based on market price for the period ended April 30, 2020.
3 The Bloomberg Barclays Global Aggregate Index is an index comprised of several other Bloomberg Barclays indices that measure fixed-income performance of regions around the world.