DWS Global High Income Fund, Inc. announced today that the Board has approved a change in the management of the Fund. Effective December 1, 2008, Aberdeen Asset Management Investment Services ("AAMISL") will no longer serve as the fund's Subadvisor. Effective December 1, 2008, Deutsche Investment Management Americas Inc. (the "Advisor") will assume all day-to-day responsibilities that were previously handled by AAMISL.
Effective December 1, 2008 the following members of the Global Institutional Fixed Income team will oversee the DWS Global High Income Fund, Inc.:
Kenneth R. Bowling, CFA, Managing Director
- Head of Institutional Fixed Income Investments, Americas: Louisville
- Joined Deutsche Asset Management in 2007 after 14 years of experience at INVESCO where he was most recently director of US fixed Income
- BS and MEng from University of Louisville
Jamie Guenther, CFA, Managing Director
- Head of Institutional Credit: Louisville
- Joined Deutsche Asset Management in 2007 after 25 years of experience, most recently as head of Credit Research and CDO/CSO Credit for INVESCO. Prior to that he was head of financial institution investment research at Duff & Phelps Investment Research. Before that he was a global security analyst for Alexander & Alexander. He began his career in 1982 at Touche Ross Financial Consulting.
- BBA from Western Michigan University
John Brennan, Director
- Portfolio and Sector Manager for Institutional Fixed Income: Louisville
- Joined Deutsche Asset Management in March 2007 after 14 years of experience at INVESCO and Freddie Mac. Prior to joining was head of Structured Securities sector team for INVESCO and before that was senior fixed income portfolio manager at Freddie Mac specializing in MBS, CMBS, collateralized mortgage obligations, ARMS, mortgage derivatives, US Treasuries and agency debt
- BS from University of Maryland; MBA from William & Mary
Bruce Harley, CFA, CEBS, Director
- Portfolio and Sector Manager for Institutional Fixed Income: Louisville
- Joined Deutsche Asset Management in March 2007 after 18 years of experience at INVESCO where he was head of Governments and Derivatives, responsible for positioning for US duration and term structure; Government and futures trading
- BS in Economics from University of Louisville
J. Richard Robben, CFA, Vice President
- Portfolio Manager for Institutional Fixed Income: Louisville
- Joined Deutsche Asset Management in March 2007 after 11 years of experience at INVESCO Institutional, most recently as senior portfolio manager for LIBOR-related strategies and head of portfolio construction group for North American Fixed Income
- BA from Bellarmine University
David Vignolo, CFA, Vice President
- Portfolio and Sector Manager for Institutional Fixed Income: Louisville
- Joined Deutsche Asset Management in March 2007 after 20 years of experience that included head of corporate bond trading and portfolio manager for INVESCO and Conning Asset Management Co., and corporate bond trader and portfolio manager for ANB Investment Management Co.
- BS from Indiana University; MBA from Case Western Reserve University
J. Kevin Horsley, CFA, CPA, Director
- Credit Analyst for Institutional Fixed Income:
- Louisville Joined Deutsche Asset Management in March 2007 after 13 years of experience, of which 11 were at INVESCO as senior analyst for a variety of credit sectors. He also has experience in the structured securities market (asset-backed and commercial mortgage-backed securities), and in research coverage of foreign exchange markets, corporate finance, market planning in the telecom sector, and in public accounting
- BA from Transylvania University; MBA from Owen Graduate School of Management, Vanderbilt University
Stephen Willer, CFA, Vice President
- Portfolio manager for Institutional Fixed Income: Louisville
- Joined Deutsche Asset Management in March 2007 after 13 years of experience, 11 of which were at AMVESCAP, INVESCO Institutional NA, where he was CDO portfolio manager responsible for structuring, pricing and managing corporate credit CSOs, developing CDS based trading strategies and vehicles, and Alpha decisions for CDS index trading. He started his career as a financial analyst at Providian Capital Management.
- BS in Finance/Economics from the University of Richmond
For more information on LBF please contact a representative at (800) 349-4281 or visit us on the web at www.dws-investments.com for updated information about the Fund.
IMPORTANT INFORMATION
Shares of common stock of closed-end funds, unlike open-end funds, are not continuously offered. There is a one time public offering and, once issued, shares of common stock of closed-end funds are traded in the open market generally through a stock exchange. Common shares of closed-end funds frequently trade at a discount to net asset value. The price of common shares is determined by a number of factors, several of which are beyond the control of the fund. Therefore, the fund cannot predict whether its common shares will trade at, below, or above net asset value.
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of fund securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Certain statements contained in this release may be forward-looking in nature. These include all statements relating to plans, expectations, and other statements that are not historical facts and typically use words like "expect," "anticipate,""believe," and similar expressions. Such statements represent management's current beliefs, based upon information available at the time the statements are made, with regard to the matters addressed. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Management does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
R-7100-1
NOT FDIC/ NCUA INSURED -- MAY LOSE VALUE -- NO BANK GUARANTEE |
NOT A DEPOSIT -- NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY |
DWS Investments is part of Deutsche Bank's Asset Management division and, within the US, represents the retail asset management activities of Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche Investment Management Americas Inc. and DWS Trust Company.