High Yield Bonds » Western Asset Global High Inc CEF
Page updated 3/7/2026

Western Asset Global High Income Fund Inc. (EHI) is a closed-end fund focused on delivering high current income by investing primarily in a globally diversified portfolio of fixed-income securities. Managed by Western Asset Management, EHI allocates its assets across a blend of high-yield corporate bonds, sovereign debt, & emerging market securities, often including non-investment grade & below-investment grade bonds. This diversified global approach enables EHI to exploit opportunities across different markets, interest rate cycles, & credit environments, potentially offering enhanced yield compared to funds concentrated in a single region, such as U.S.-only high yield or municipal bond funds. EHI frequently employs leverage, amplifying its income generation, though this elevates risk. For yield-seeking investors, EHI can be particularly attractive for three reasons: First, its global diversification reduces reliance on any one country’s economic conditions or interest rate trends, spreading risk across a wider set of issuers & geographies. Second, as a closed-end fund, EHI can trade at a market price below its net asset value, offering investors the potential to buy the fund’s portfolio at a discount, which can enhance long-term returns if discounts revert. Third, Western Asset is an established manager with expertise in identifying undervalued opportunities in both developed & emerging debt markets. Compared to other closed-end funds that may focus solely on domestic or investment-grade securities, EHI’s flexible mandate, extensive global reach, & experienced management team are distinguishing characteristics for investors seeking higher income & diversification within their fixed income allocation.