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 July 31, 2015.
Current Quarter:As of
July 31, 2015
Prior Quarter:As of
April 30,2015
Year Ago Quarter:As of
July 31, 2014
Net Assets $698,589,248 $712,616,893 $755,151,058 Loan Outstanding
$275,000,000 $275,000,000 $316,000,000 Shares Outstanding
40,923,879 40,923,879 40,923,879 Net Asset Value ("NAV") Per Share
(a) $17.07 $17.41 $18.45 Market Price Per Share (b) $14.70 $16.09
$16.94 Premium / (Discount) to NAV (c) -13.9% -7.6% -8.2%
Undistributed / (Overdistributed) Net
InvestmentIncome (d)(e)
$9,429,823 ($13,392,058) ($1,518,535)
Undistributed / (Overdistributed) Net
InvestmentIncome Per Share (d)
$0.23 ($0.33) ($0.04)
Quarter EndedJuly 31, 2015
Quarter EndedApril 30, 2015
Quarter EndedJuly 31, 2014
Quarterly
Earnings
Net Investment Income $14,465,048 $14,220,578 $15,660,973
Net Realized and Unrealized Gain (Loss)
onInvestment and Foreign Currency Transactions
($13,146,238) $9,826,678
($17,040,876)
Net Increase / (Decrease) in Net Assets
FromOperations
$1,318,810 $24,047,256
($1,379,903)
Quarterly Earnings
Per Common Share Outstanding
Net Investment Income $0.35 $0.35 $0.38 Net Realized and Unrealized
Gain / (Loss) ($0.32) $0.24
$(0.42)
Net Increase / (Decrease) in Net Assets
FromOperations
$0.03 $0.59 $(0.04)
This financial data is unaudited. Amounts shown do not reflect
adjustments for Generally Accepted Accounting Principles relating
to amortization of premiums on securities held.
Notes: (a) Net Asset Value (“NAV”) per share is total
assets less total liabilities divided by the number of shares
outstanding. (b) Market Price per share is the closing price on the
New York Stock Exchange. (c) Premium / (Discount) to NAV is the %
difference between the Market price and the NAV price. (d)
Overdistributed amounts may be funded by capital gains on portfolio
securities or through return of shareholder’s capital.
Undistributed / (Overdistributed) Net Investment Income ("UNII")
represents the balance to date of a fund’s net investment income
less its distributions. Includes prior year UNII of $9,429,823 for
the fiscal year ended 7/31/15 and ($1,518,535) for the fiscal year
ended 7/31/14. (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 $11,815,265 ($0.29 per share), $12,536,403 ($0.31
per share), and $2,642,039 ($0.06 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 stockholder reports on
Form N-CSR, as well as a 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 Prudential Investment Management,
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 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. (NYSE:PRU), a financial services
leader with more than $1.1 trillion of assets under management as
of June 30, 2014, 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 U.S., Prudential’s iconic Rock symbol has stood
for strength, stability, expertise and innovation for more than a
century. For more information, please visit
www.news.prudential.com.
Prudential Fixed Income is a unit of Prudential Investment
Management, Inc., which is a registered investment advisor and
Prudential Financial company. © 2015 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.
0281986-00001-00
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Prudential Global Short Duration High Yield Fund,
Inc.Darrell Oliver,
973-802-9627darrell.oliver@prudential.com
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