-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OjGQ69PrDi4b+92UTV/8+BShHvWL01FUFn3YcSgFw0IdZvG371an86xanMWp1vzC bMZTz4pCZvm/z6fODvCO1g== 0001031235-06-000011.txt : 20060526 0001031235-06-000011.hdr.sgml : 20060526 20060526152926 ACCESSION NUMBER: 0001031235-06-000011 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060331 FILED AS OF DATE: 20060526 DATE AS OF CHANGE: 20060526 EFFECTIVENESS DATE: 20060526 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GLOBAL INCOME FUND, INC. CENTRAL INDEX KEY: 0001031235 IRS NUMBER: 133926714 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-08025 FILM NUMBER: 06870546 BUSINESS ADDRESS: STREET 1: 11 HANOVER SQUARE CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 2123446310 MAIL ADDRESS: STREET 1: 11 HANOVER SQUARE CITY: NEW YORK STATE: NY ZIP: 10005 FORMER COMPANY: FORMER CONFORMED NAME: GLOBAL INCOME FUND INC DATE OF NAME CHANGE: 19990830 FORMER COMPANY: FORMER CONFORMED NAME: BULL & BEAR GLOBAL INCOME FUND INC/ DATE OF NAME CHANGE: 19970123 0001031235 S000011693 GLOBAL INCOME FUND INC C000032074 GLOBAL INCOME FUND INC GIF N-Q 1 gifnq2006.txt GLOBAL INCOME FUND N-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-08025 Global Income Fund, Inc. (Exact name of registrant as specified in charter) 11 Hanover Square, 12th Floor New York, NY 10005 (Address of principal executive offices) (Zip code) Thomas B. Winmill, President Global Income Fund, Inc. 11 Hanover Square, 12th Floor New York, NY 10005 (Name and address of agent for service) Registrant's telephone number, including area code: 1-212-344-6310 Date of fiscal year end: 12/31 Date of reporting period: 3/31/06 Item 1. Schedule of Investments March 31, 2006 (Unaudited) Midas Global Income Form N-Q - March 31, 2006 (Unaudited)
Principal Amount (a) DEBT SECURITIES - 91.04% Value Australia - 8.02% 1,500,000 AUD Commonwealth Bank of Australia, 6.75% Senior Government Guaranteed Notes, due 12/01/07 $ 1,089,198 1,000,000 National Australia Bank, 8.60% Subordinated Notes, due 05/19/10 1,113,242 300,000 Principal Financial Group, 144A, 8.20% Senior Notes, due 08/15/09 (b) 323,041 ------- 2,525,481 --------- Austria - 4.12% 1,000,000 EUR Republic of Austria, 5.25% Euro Medium Term Notes, due 01/04/11 1,297,221 Canada - 5.97% 1,300,000 AUD Government of Quebec, 6.00% Senior Unsubordinated Notes, due 02/18/09 930,698 1,350,000 EUR Province of Ontario, 5.50% Euro Medium Term Notes, due 07/13/12 948,350 ------- 1,879,048 --------- Cyprus - 1.98% 500,000 EUR Republic of Cyprus, 4.375% Euro Medium Term Notes, due 07/15/14 624,995 France - 7.91% 1,000,000 EUR Elf Aquitaine, 4.50% Senior Unsubordinated Notes, due 03/23/09 1,239,908 1,000,000 EUR Societe Nationale des Chemins de Fer Francais, 4.625% Euro Medium Term Notes, due 10/25/09 1,249,448 --------- 2,489,356 --------- Germany - 5.59% 500,000 GBP Dresdner Bank Aktiengesellschaft, 7.75% Subordinated Bonds, due 12/07/07 903,281 500,000 GBP RWE Finance B.V., 4.625% Notes, due 08/17/10 857,863 ------- 1,761,144 --------- Hungary - 1.93% 500,000 EUR Republic of Hungary, 4.00% Bonds, due 09/27/10 608,925 Japan - 3.89% 1,000,000 EUR Toyota Motor Credit Corp., 4.125% Euro Medium Term Notes, due 01/15/08 1,224,138 Korea - 1.60% 500,000 Korea Development Bank, 5.75% Notes, due 09/10/13 504,726 Mexico - 3.08% 1,000,000 United Mexican States, 5.625% Notes, due 01/15/17 971,000 Netherlands - 15.85% 1,000,000 EUR Aegon N.V., 4.625% Euro Medium Term Notes, due 04/16/08 1,237,183 500,000 EUR Essent N.V., 4.50% Euro Medium Term Notes, due 06/25/13 613,271 500,000 EUR Heineken N.V., 4.375% Bonds, due 02/04/10 611,799 1,000,000 EUR ING Bank N.V., 5.50% Euro Medim Term Notes, due 01/04/12 1,304,713 1,000,000 EUR Nederlandse Waterschapsbank, 4.00% Notes, due 02/11/09 1,225,695 --------- 4,992,661 --------- 1
Midas Global Income Form N-Q - March 31, 2006 (Unaudited) - Continued
Principal Amount (a) DEBT SECURITIES - 91.04% Value Sweden - 4.00% 1,000,000 EUR Kingdom of Sweden, 5.00% Eurobonds, due 01/28/09 $ 1,259,510 Unitied Kingdom - 11.28% 1,000,000 National Westminster Bank, 7.375% Subordinated Notes, due 10/01/09 1,066,432 1,000,000 EUR Tesco PLC, 4.75% Euro Medium Term Notes, due 04/13/10 1,250,603 1,000,000 EUR Vodafone Group Plc, 4.625% Euro Medium Term Notes, due 01/31/08 1,233,672 --------- 3,550,707 --------- United States - 7.78% 500,000 CIT RV Trust 1998-A B , 6.29% Subordinated Bonds, due 01/15/17 443,305 1,000,000 U.S. Treasury, 5.375% Bonds, due 02/15/31 1,052,969 1,000,000 U.S. Treasury, 4.25% Notes, due 08/15/15 952,930 ------- 2,449,204 Supranational/Other - 8.04% 738,000 GBP European Investment Bank, 5.50% Supra-National Bonds, due 12/07/11 1,332,578 1,200,000 The International Bank for Reconstruction & Development, 5.05% Notes, due 05/29/08 1,199,880 --------- 2,532,458 Total Debt Securities (cost: $30,080,204) 28,670,574 ---------- Shares PREFERRED STOCKS - 4.64% Value United States - 4.64% 4,000 BAC Capital Trust II, 7.00% 101,760 3,000 BAC Capital Trust III, 7.00% 76,620 4,000 Corporate-Backed Trust Certificates, 6.00% (Goldman Sachs) 91,640 25,000 Corporate-Backed Trust Certificates, 8.20% (Motorola) 641,250 10,000 The Walt Disney Company, 7.00% 254,000 5,000 SATURNS-Bellsouth SM, 5.875% 121,500 6,900 Wells Fargo Capital Trust V, 7.00% 174,018 ------- Total Preferred Stocks (cost: $1,447,500) 1,460,788 --------- Par Value SHORT TERM INVESTMENTS - 2.80% Value United States - 2.80% $881,797 State Street Repurchase Agreement 04/03/06 881,797 (collateralized by $945,000 U.S. Treasury Note, 4.25%, 08/15/15, value $903,517) ------- Total Short Term Investments (cost: $881,797) 881,797 ------- Total Investments (cost: $32,409,501) - 98.48% $ 31,013,159 ------------ Other Assets Less Liabilities - 1.52% 479,092 ------- Total Net Assets - 100.00% $ 31,492,251 ============ (a) The principal amount is stated in U.S. dollars unless otherwise indicated. (b) A 144A security may be sold to institutional investors only. The total market value of this security represents 1.03% of total net assets. Midas Global Income Form N-Q - March 31, 2006 (Unaudited) - Continued Tax Related Unrealized appreciation $ 32,111 Unrealized depreciation (1,428,453) ---------- Net unrealized depeciation $ (1,396,342) ============ Aggregate cost of securities for income tax purposes $ 32,409,501 ============
Securities valuation policies and other investment related disclosures are hereby incorporated by reference in the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR. Item 2. Controls and Procedures (a) The Principal Executive Officer and Principal Financial Officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the registrant is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report. (b) There were no significant changes in the registrant's internal control over financial reporting (as defined in Rule 30a- 3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. Item 3. Exhibits (a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. GLOBAL INCOME FUND, INC. By:/s/ Thomas B. Winmill ----------------------- Thomas B. Winmill, President Date: May 26, 2006 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By:/s/ Thomas B. Winmill ----------------------- Thomas B. Winmill, President Date: May 26, 2006 By:/s/ Thomas O'Malley ----------------------- Thomas O'Malley, Chief Financial Officer Date: May 26, 2006 EXHIBIT INDEX (a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. (EX-99.CERT) EX-99.CERT 2 gifnq2006cert.txt EX-99 .CERT CERTIFICATIONS I, Thomas B. Winmill, certify that: 1. I have reviewed this report on Form N-Q of Global Income Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: May 26, 2006 /s/ Thomas B. Winmill ------------------------------ Thomas B. Winmill, President I, Thomas O'Malley, certify that: 1. I have reviewed this report on Form N-Q of Global Income Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: May 26, 2006 Thomas O'Malley ------------------------------ Thomas O'Malley, Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----