AllianceBernstein Global High Income Fund, Inc. Reports Third Quarter Earnings

AllianceBernstein Global High Income Fund, Inc. (NYSE: AWF), a registered closed-end investment company, recently announced its earnings for the third quarter ended December 31, 2024. The Fund's total net assets on December 31, 2024, stood at $978.43 million, a slight decrease from $989.26 million in the previous quarter but an increase from $962.97 million year-over-year. The net asset value per share on December 31, 2024, was $11.35 based on 86,229,677 outstanding common shares.

For the period October 1, 2024 through December 31, 2024, the Fund generated total net investment income of $16,146,424, or $0.19 per share. This figure represents a slight decrease from the previous quarter's $16,366,635 but an increase from the year-over-year figure of $15,991,192. The total net realized and unrealized loss for the same period was $(8,683,161), or $(0.10) per share, a significant decrease from the previous quarter's net realized and unrealized gain of $32,935,757 but an increase from the year-over-year figure of $58,030,384.

The Fund's portfolio composition has evolved over time, with notable changes in investment type, country breakdown, and sector allocation. As of December 31, 2024, the Fund's top 10 fixed-income holdings include a mix of US Treasury Notes, corporate bonds, and emerging market bonds. The Fund's investment type breakdown shows a significant allocation to corporates - non-investment grade (53.51%) and corporates - investment grade (6.47%), with a smaller allocation to emerging markets - corporate bonds (5.64%) and bank loans (4.70%).

The Fund's country breakdown shows a significant allocation to the United States (68.32%), followed by the United Kingdom (3.53%), France (2.60%), and Canada (2.36%). The Fund's exposure to emerging markets is relatively low, with Brazil (1.82%) being the highest allocation among emerging markets.

The Fund's strategic shifts suggest a more aggressive approach, with increased exposure to higher-yielding assets such as Non-Investment Grade Corporate Bonds and Bank Loans, as well as a greater focus on emerging markets and certain sectors with higher growth potential. However, the Fund has also maintained a significant allocation to Investment Grade Corporate Bonds and Interest Rate Futures, indicating a balanced approach to risk management.




In conclusion, the Fund's third quarter earnings reflect a slight decrease in total net assets and net asset value per share, driven by a total net realized and unrealized loss experienced during the period. The Fund's portfolio composition has evolved, with strategic shifts towards higher-yielding assets and emerging markets, while maintaining a balanced approach to risk management. The Fund's performance in the third quarter can be attributed to a lower yield environment and an increase in exposure to lower-quality bonds.