In plain terms — BrandywineGLOBAL-Global Income Opportunities Fund
Shares currently cost about 14.7% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 9.2% discount, so today's level is unusually wide for this fund (Z-score -2.6). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 13.8% a year of the share price (11.8% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.17 of assets — a ReinvestCapture™ rate of 16.1%, more than the payout rate itself. That is buying power, not a return.
The assets themselves fell 1.6% over the past year including distributions (NAV total return).
Guided view hides the statistical panels. Switch to Expert view in the grey bar to see them. Nothing here is advice.
Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -10.90% | 2.01% | -1.64 | 64 |
| 6 months | -10.26% | 1.60% | -2.46 | 126 |
| 1 year | -9.24% | 1.89% | -2.63 | 250 |
| 3 years | -9.46% | — | — | — |
| 5 years | -10.33% | — | — | — |
Current contemporaneous premium/discount -14.20% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -15.52% to -5.75%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -7.15% | -12.80% | -17.80% | -20.74% | -2.35% | -11.16% |
| Market price total return | -6.11% | -9.97% | -9.93% | -10.64% | +9.76% | -0.15% |
| NAV return | -1.68% | -5.98% | -9.82% | -11.77% | -1.88% | -9.37% |
| NAV total return | -0.73% | -3.27% | -2.08% | -1.63% | +9.08% | +0.63% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
The Legg Mason BW Global Income Opportunities Fund Inc. operates as a closed-end mutual fund, primarily allocating its capital within the fixed-income markets. Legg Mason Partners Fund Advisor, LLC manages the fund, with Brandywine Global Investment Management, LLC providing additional co-management expertise. Its investment portfolio is built using a fundamental analysis approach. This fund, established in the United States on March 28, 2012, seeks opportunities globally within its mandate.
CEF Explorer research page for BrandywineGLOBAL-Global Income Opportunities Fund Inc. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.