Nuveen Global High Income Fund (JGH)

CHICAGO--(BUSINESS WIRE)--Nuveen Global High Income Fund (NYSE: JGH) (the “Fund”) today announced the preliminary results of its transferable rights offering (the “Offer”) which expired at 5:00 p.m., Eastern time, on November 20, 2025 (the “Expiration Date”). The Offer entitled the rights holders to subscribe for additional common shares of the Fund (“Common Shares”). The Offer is expected to result in the issuance of approximately 4.9 million Common Shares (including notices of guaranteed deli.

Rising U.S. debt could elevate long-term yields while the Fed has cut short-term rates, signaling potential opportunities in credit markets for fixed-income investors. A fixed-income closed-end fund, the Nuveen Global High Income Fund seeks to deliver high current income through a diversified portfolio of global high-income securities. Nuveen's Mark Zheng, Portfolio Manager of the Nuveen Global High Income Fund, discusses the Fund's strategy and the market outlook going into 2026.

Nuveen Global High Income Fund remains rated as a Hold due to unattractive valuation and ongoing sensitivity to higher interest rates. JGH offers a high 9.6% yield, but dividend sustainability is questionable given inconsistent earnings and a downward trending payout history. The fund relies heavily on leverage and below investment grade securities, amplifying risk in a high-rate environment and limiting capital appreciation potential.

We review the CEF market valuation and performance through the second week of October and highlight recent market action. Closed-end fund market saw most sectors decline, with MLPs underperforming and Muni funds outperforming, as Treasury yields trended lower. Rights offerings are seemingly everywhere, with recent announcements from JGH and OPP; these typically cause short-term price drops and temporarily overstate discounts.

CHICAGO--(BUSINESS WIRE)--Nuveen Global High Income Fund (NYSE: JGH) today announced that its Board of Trustees (the “Board”) has approved the terms of the issuance of transferable rights (“Rights”) to the holders of the Fund's common shares (par value $.01 per share) (“Common Shares”) as of October 21, 2025 (the “Record Date”). Holders of Rights will be entitled to subscribe for additional Common Shares (the “Offer”) at a subscription price that is expected to represent a discount to the marke.

JGH offers a diversified, high-yield fixed income portfolio across US, developed, and emerging markets, with a 9.34% yield and 28.39% leverage. The fund primarily holds B and BB rated bonds, balancing risk and return, and spreads risk across 291 issuances with no significant issuer concentration. Macroeconomic risks include inflation, US rate policy, and tariff impacts, but dollar-denominated bonds may benefit from a declining USD and potential Fed rate cuts.

Nuveen Global High Income Fund offers a 9.34% yield, outperforming bond indices and most peers in total return and net asset value preservation. Despite a lower yield than peer closed-end funds, JGH's disciplined distribution policy has resulted in stronger long-term performance and less NAV erosion. The fund's global diversification and active management provide some protection against U.S. dollar devaluation and inflation risks, though floating-rate exposure may drag returns.

JGH offers diversified global high-yield income, with 43% international debt exposure and a 10% yield, benefiting from a weakening US dollar. The fund has outperformed global bond benchmarks and the US dollar index over multiple periods, though it trails the S&P 500 year-to-date. JGH trades at a 7.32% discount to NAV.

JGH offers global credit exposure and a high 9.8% yield, but struggles in the current high interest rate environment. The fund's heavy allocation to below-investment-grade debt and use of leverage increase risk, especially if rates rise further. Dividend sustainability is questionable, as earnings have often failed to cover payouts and frequent cuts have occurred over the past decade.

The Nuveen Global High Income Fund offers a 9.76% yield, potentially appealing to income-seeking investors. The fund's portfolio performance has not justified its recent share price gains, potentially at risk of a correction. With a focus on U.S. assets and lower yield compared to peers, the fund may be less desirable for international diversification.

Nuveen Global High Income Fund offers investors a high level of income while diversifying their assets away from the United States. The JGH closed-end fund has a 10.27% yield, higher than most domestic fixed-income securities and many domestic junk bond funds. The JGH fund's long-term performance has been strong, outperforming both the U.S. Aggregate Bond Index and the JPMorgan EMBI Global Core Index.

NEW YORK--(BUSINESS WIRE)--Nuveen Closed-End Funds today announced that the Board of Trustees of the Funds has approved the regular monthly and quarterly distributions. In addition, the Board of Trustees has approved updated distribution polices described below under “Monthly & Quarterly Distributions” for The Nuveen Preferred & Income Opportunities Fund (NYSE: JPC), Nuveen Preferred and Income Term Fund (NYSE: JPI), Nuveen Variable Rate Preferred & Income Fund (NYSE: NPFD), Nuveen.

Many risk-averse investors are holding onto large amounts of cash, waiting to re-enter the investing game. Nuveen Investments recommends getting off the sidelines and positioning portfolios for attractive late-cycle opportunities. Nuveen offers several closed-end funds that meet the criteria for income investors in the current economic cycle, and here we review Nuveen Global High Income Fund.

JGH is a CEF focused on global high yield.

JGH is a global high yield closed end fund. The fund is mainly composed of high yield bonds, which account for more than 73% of the portfolio.

Only funds with coverage >100% are considered. Top lists of discount, yield, DxY and DxYxZ are given. The top DxY funds are NHF, ARDC and KIO.