Unaudited Earnings and Financial Position for Quarter Ended January 31, 2016
NEWARK, N.J., March 3, 2016 — Prudential Global Short Duration High Yield Fund, Inc. (NYSE: GHY), (the “Fund”), a diversified, closed-end management investment company, announced today its unaudited investment results for the quarter ended January 31, 2016.
October 31, 2015
January 31, 2015
|Net Asset Value ("NAV") Per Share (a)||$15.94||$16.63||$17.20|
|Market Price Per Share (b)||$13.99||$14.55||$16.45|
|Premium / (Discount) to NAV (c)||-12.2%||-12.5%||-4.4%|
|Undistributed / (Overdistributed) Net Investment Income (d)||$9,345,326||$9,267,094||($12,226,182)|
|Undistributed / (Overdistributed) Net Investment Income Per Share (d)||$0.23||$0.23||($0.30)|
January 31, 2016
October 31, 2015
January 31, 2015
|Net Investment Income||$13,420,383||$13,956,009||$14,709,173|
|Net Realized and Unrealized Gain (Loss)||($28,359,346)||($17,799,588)||($23,003,154)|
|Net Increase / (Decrease) in Net Assets From Operations||($14,938,963)||($3,843,579)||($8,293,981)|
|Quarterly Earnings Per Common Share Outstanding|
|Net Investment Income||$0.33||$0.34||$0.36|
|Net Realized and Unrealized Gain / (Loss)||($0.69)||($0.43)||($0.56)|
|Net Increase / (Decrease) in Net Assets From Operations||($0.36)||($0.09)||($0.20)|
- Net Asset Value (“NAV”) Per Share is total assets less total liabilities divided by the number of shares outstanding.
- Market Price Per Share is the closing price on the New York Stock Exchange.
- Premium / (Discount) to NAV is the % difference between the market price and the NAV price.
(e) The UNII information provided treats amounts relating to foreign currency transactions as net realized and unrealized gain (loss). However, these amounts are treated as net investment income (loss) for federal income tax purposes. In accordance with federal income tax treatment, the UNII balances would have been $14,064,574 ($0.34 per share), $10,028,549 ($0.25 per share), and $18,772,984 ($0.46 per share), as of the current quarter, prior quarter, and year ago quarter, respectively. While not required to do so, the Fund may attempt to hedge its foreign currency exposure, which may offset all or a portion of the foreign currency exposure included in the table above. As of the date of this press release, the Fund believes that it has significantly hedged its foreign currency exposure.
The Fund files its annual and semi-annual stockholders reports on Form N-CSR, as well as complete schedule of investments with the Securities and Exchange Commission (the "Commission") for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms N-Q are available on the Commission’s website at http://www.sec.gov. The Fund’s Forms N-Q may also be reviewed and copied at the Commission’s Public Reference Room in Washington, D.C. Information on the operation and location of the Public Reference Room may be obtained by calling (202) 551-8090. To obtain information on Form N-Q or annual and semi-annual stockholder reports, shareholders can call (800) 451-6788 (toll-free). You may also call this number to request additional information or to make other inquiries pertaining to the Fund.
Data and commentary provided in this press release are for informational purposes only. Prudential Investments LLC, the Investment Manager of the Fund, and its affiliates do not engage in selling shares of the Fund. The Fund is sub-advised by Prudential Fixed Income, a business unit of PGIM Inc. and an affiliate of the investment manager.
The Fund invests in high yield (“junk”) bonds, which are subject to greater credit and market risks; derivative securities, which may carry market, credit, and liquidity risks; foreign securities, which are subject to currency fluctuation and political uncertainty; and emerging markets securities, which are subject to greater volatility and price declines. Fixed income investments are subject to interest rate risk, where their value will decline as interest rates rise. There are fees and expenses involved with investing in the Fund. Diversification does not assure a profit or protect against a loss in declining markets. There is no guarantee that dividends or distributions will be paid.
Prudential Investments® is the mutual fund business of Prudential Financial, Inc., offering a range of open- and closed-end funds. Please visit www.prudentialfunds.com for more information.
Prudential Financial, Inc., a financial services leader with over $1.1 trillion of assets under management as of December 31, 2015, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the United States, Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.
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Prudential Fixed Income is a unit of PGIM, Inc., which is a registered investment advisor and Prudential Financial company. © 2016 Prudential Financial, Inc. and its related entities. Prudential Investments LLC, Prudential, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
MEDIA CONTACT: Darrell Oliver