0001504304-19-000019.txt : 20190930
0001504304-19-000019.hdr.sgml : 20190930
20190930144915
ACCESSION NUMBER: 0001504304-19-000019
CONFORMED SUBMISSION TYPE: SC 13D
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20190930
DATE AS OF CHANGE: 20190930
GROUP MEMBERS: ANDREW DAKOS
GROUP MEMBERS: BULLDOG INVESTORS, LLC
GROUP MEMBERS: PHILLIP GOLDSTEIN
GROUP MEMBERS: STEVEN SAMUELS
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: BrandywineGLOBAL-Global Income Opportunities Fund Inc
CENTRAL INDEX KEY: 0001504545
IRS NUMBER: 000000000
STATE OF INCORPORATION: MD
FISCAL YEAR END: 0131
FILING VALUES:
FORM TYPE: SC 13D
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-87255
FILM NUMBER: 191125719
BUSINESS ADDRESS:
STREET 1: 620 EIGHTH AVENUE
STREET 2: 49TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10018
BUSINESS PHONE: (888) 777-0102
MAIL ADDRESS:
STREET 1: 620 EIGHTH AVENUE
STREET 2: 49TH FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10018
FORMER COMPANY:
FORMER CONFORMED NAME: Legg Mason BW Global Income Opportunities Fund Inc.
DATE OF NAME CHANGE: 20101028
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: Bulldog Investors, LLC
CENTRAL INDEX KEY: 0001504304
IRS NUMBER: 270926182
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13D
BUSINESS ADDRESS:
STREET 1: PARK 80 WEST - PLAZA TWO
STREET 2: 250 PEHLE AVE. SUITE 708
CITY: SADDLE BROOK
STATE: NJ
ZIP: 07663
BUSINESS PHONE: 201 556-0092
MAIL ADDRESS:
STREET 1: PARK 80 WEST - PLAZA TWO
STREET 2: 250 PEHLE AVE. SUITE 708
CITY: SADDLE BROOK
STATE: NJ
ZIP: 07663
FORMER COMPANY:
FORMER CONFORMED NAME: Brooklyn Capital Management LLC
DATE OF NAME CHANGE: 20101026
SC 13D
1
third.txt
SCHEDULE 13D
DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT
9/20/19
1. NAME OF REPORTING PERSON
Bulldog Investors, LLC
2. CHECK THE BOX IF MEMBER OF A GROUP a[ ]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DE
___________________________________________________________
7. SOLE VOTING POWER
26,518
8. SHARED VOTING POWER
1,010,141
9. SOLE DISPOSITIVE POWER
26,518
_______________________________________________________
10. SHARED DISPOSITIVE POWER
1,010,141
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,036,659 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
4.94%
14. TYPE OF REPORTING PERSON
IA
___________________________________________________________
1. NAME OF REPORTING PERSON
Phillip Goldstein
2. CHECK THE BOX IF MEMBER OF A GROUP a[X]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
26,518
8. SHARED VOTING POWER
1,236,611
9. SOLE DISPOSITIVE POWER
26,518
_______________________________________________________
10. SHARED DISPOSITIVE POWER
1,236,611
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,263,129 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
6.02%
14. TYPE OF REPORTING PERSON
IN
___________________________________________________________
1. NAME OF REPORTING PERSON
Andrew Dakos
2. CHECK THE BOX IF MEMBER OF A GROUP a[]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
26,518
8. SHARED VOTING POWER
1,236,611
9. SOLE DISPOSITIVE POWER
26,518
_______________________________________________________
10. SHARED DISPOSITIVE POWER
1,236,611
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,263,129 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
6.02%
14. TYPE OF REPORTING PERSON
IN
___________________________________________________________
1. NAME OF REPORTING PERSON
Steven Samuels
2. CHECK THE BOX IF MEMBER OF A GROUP a[X]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
26,518
8. SHARED VOTING POWER
1,010,141
9. SOLE DISPOSITIVE POWER
26,518
_______________________________________________________
10. SHARED DISPOSITIVE POWER
1,010,141
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
1,036,659 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
4.94%
14. TYPE OF REPORTING PERSON
IN
_______________________________________________________
Item 1. SECURITY AND ISSUER
This Schedule 13D relates to the shares of Common Stock
of BrandywineGLOBAL-Global Income Opportunities Fund Inc
("BWG" or the "Issuer").
The principal executive offices of BWG are located at
620 EIGHTH AVENUE
49TH FLOOR
NEW YORK NY 10018
Item 2. IDENTITY AND BACKGROUND
(a) This statement is filed on behalf of Bulldog Investors,LLC, (a Delaware
Limited Liability Company), Phillip Goldstein, Andrew Dakos and Steven Samuels.
(b) The business address of the reporting persons is Park 80 West-Plaza Two,
250 Pehle Ave., Suite 708, Saddle Brook, NJ 07663.
(c) Bulldog Investors,LLC is a registered investment adviser.
Messrs. Goldstein, Dakos and Samuels are control persons of Bulldog
Investors,LLC.
(d) n/a
(e) n/a
(f) Each of Messrs. Goldstein, Dakos and Samuels is a citizen of the United
States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERATIONS
Shares of the Issuer have been accumulated on behalf of clients of
Bulldog Investors,LLC, and an account managed by Messrs. Goldstein
and Dakos.
ITEM 4. PURPOSE OF TRANSACTION
On September 9, 2019, a member of the filing group sent a letter to the
issuer. See Exhibit B.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As per the N-CSRS filed on June 26, 2019, there were 20,989,795 shares
of common stock outstanding as of April 30, 2019. The percentages set forth
herein were derived using such number. Phillip Goldstein, Andrew Dakos and
Steven Samuels own Bulldog Investors, LLC, a registered investment advisor.
As of September 27, 2019, Bulldog Investors, LLC is deemed to be the beneficial
owner of 1,036,659 shares of BWG (representing 4.94% of BWG's outstanding
shares) solely by virtue of Bulldog Investors LLC's power to direct the vote
of,and dispose of, these shares. These 1,036,659 shares of BWG include 26,518
shares (representing 0.13% of BWG's outstanding shares) that are beneficially
owned by Mr. Goldstein and Mr.Samuels.
All other shares included in the aforementioned 1,036,659 shares of BWG
beneficially owned by Bulldog Investors LLC (solely by virtue of its power
to sell or direct the vote of these shares) are also beneficially owned by
clients of Bulldog Investors, LLC who are not members of any group. The total
number of these "non-group" shares is 1,010,141 shares (representing 4.81% of
VCIF's outstanding shares).
As of September 27,2019, each of Messrs. Goldstein and Dakos is deemed to be
the beneficial owner of 1,263,129 shares of BWG (representing 6.02% of BWG's
outstanding shares) by virtue of their power to direct the vote of, and
dispose of, these shares.
(b)Bulldog Investors,LLC has sole power to dispose of and vote 26,518 shares.
Bulldog Investors, LLC and Messrs. Goldstein and Dakos have shared power to
dispose of and vote 1,010,141 shares. Certain of Bulldog Investors, LLC's
clients (none of whom beneficially own more than 5% of VCIF's shares) share
this power with Bulldog Investors, LLC. Messrs.Goldstein, Dakos and Samuels
are control persons of Bulldog Investors, LLC. Messrs. Goldstein and Dakos
have shared power to dispose of and vote an additional 226,470 shares.
c) During the past 60 days the following shares of BWG were purchased:
Date: Shares: Price:
07/31/19 1,700 11.9000
08/05/19 1,442 11.9000
08/29/19 2,000 11.9200
08/30/19 10,000 11.9187
09/03/19 10,000 11.8908
09/04/19 1,595 11.9400
09/05/19 25,000 12.0247
09/06/19 2,154 12.0238
09/09/19 5,000 12.0720
09/09/19 49,000 12.0494
09/10/19 30,100 12.0195
09/12/19 5,136 11.9999
09/13/19 12,665 11.9149
09/16/19 3,135 11.8999
09/18/19 1,515 11.9500
09/19/19 400 11.8500
09/20/19 100,000 11.9447
09/23/19 1,000 11.9400
09/23/19 14,139 11.9487
09/24/19 300 11.9967
09/25/19 500 12.0135
09/25/19 66,692 12.0107
09/26/19 4,000 11.9830
09/26/19 30,500 12.0000
09/26/19 362 11.9800
09/27/19 5,615 12.0144
09/27/19 500 11.9900
d) Clients of Bulldog Investors, LLC and an account managed by Messrs.Goldstein
and Dakos are entitled to receive any dividends or sales proceeds.
e) N/A
ITEM 6. CONTRACTS,ARRANGEMENTS,UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
N/A
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit A & B
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this
statement is true, complete and correct.
Dated: 9/30/2019
By: /S/ Phillip Goldstein
Name: Phillip Goldstein
By: /S/ Andrew Dakos
Name: Andrew Dakos
By: /S/ Steven Samuels
Name: Steven Samuels
Bulldog Investors, LLC
By: /s/ Andrew Dakos
Andrew Dakos, Member
Footnote 1: The reporting persons disclaim beneficial ownership except
to the extent of any pecuniary interest therein.
Exhibit A:
Agreement to Make Joint Filing
Agreement made as of the 30th day of September, 2019, by and among
Bulldog Investors, LLC, Phillip Goldstein, Andrew Dakos, and Steven Samuels.
WHEREAS, Rule 13d-1(k)(1) under the Securities Exchange Act of 1934 provides
that whenever two or more persons are required to file a statement containing
the information required by Schedule 13D with respect to the same securities,
only one such statement need be filed, so long as, among other things, such
filing includes as an exhibit an agreement among such persons that such a
statement is filed on behalf of each of them;
WHEREAS, in connection with certain holdings of BrandywineGLOBAL-Global
Income Opportunities Fund Inc (BWG), each of the parties to this Agreement
is required to file a statement containing the information required by
Schedule 13D with respect to the same holdings of BWG;
NOW THEREFORE, the parties hereby agree that one statement containing the
information required by Schedule 13D shall be filed on behalf of each party
hereto.
IN WITNESS WHEREOF, this Agreement has been duly executed by the parties
hereto as of the day and year first written above.
By:/s/ Phillip Goldstein By:/s/ Andrew Dakos
Phillip Goldstein Andrew Dakos
BULLDOG INVESTORS, LLC
By: /s/ Steven Samuels By: /s/ Andrew Dakos
Steven Samuels Andrew Dakos, Member
Exhibit B:
Special Opportunities Fund, Inc. 615 East Michigan Street, Milwaukee, WI 53202
September 9, 2019
BrandywineGLOBAL - Global Income Opportunities Fund Inc.
c/o Legg Mason
100 First Stamford Place, 6th Floor,
Stamford, CT 06902
Attn: Robert I. Frenkel, Secretary
Dear Mr. Frenkel:
Special Opportunities Fund, Inc. is the beneficial owner of shares in
BrandywineGLOBAL - Global Income Opportunities Fund Inc. with a value in
excess of $2,000.00. We have held these shares for over 12 months and plan
to continue to hold them through the next meeting of stockholders.
We hereby submit the following proposal and supporting statement pursuant to
rule 14a-8 of the Securities Exchange Act of 1934 for inclusion in management's
proxy materials for the next meeting of stockholders for which this proposal
is timely submitted. If you would like to discuss this proposal, please contact
me at (914) 747-5262 or pgoldstein@bulldoginvestors.com.
*******
RESOLVED: The shareholders of BrandywineGLOBAL - Global Income Opportunities
Fund Inc. (the Fund) request that the Board of Directors authorize a self-tender
offer for all outstanding common shares of the Fund at or close to net asset
value (NAV). If more than 50% of the Fund's outstanding common shares are
submitted for tender, the tender offer should be cancelled and the Fund should
be liquidated or converted into an exchange traded fund (ETF) or an open-end
mutual fund.
SUPPORTING STATEMENT
Over the past five years, the Fund's common stock has traded at an average
discount of more than 14% to NAV and the discount is currently greater than 15%,
one of the widest discounts in the closed-end find universe.
We think the Board of Directors should authorize a self-tender offer for the
Fund's common shares at or close to NAV to afford shareholders an opportunity
to receive a price closer to NAV for their shares. If a majority of the Fund's
outstanding common shares are tendered, that would demonstrate that there is
insufficient shareholder support for continuing the Fund in its closed-end
format. In that case, the tender offer should be cancelled and the Fund should
be liquidated or converted into an ETF or an open-end mutual fund.
If you agree that it is time to address the Fund's persistent double-digit
discount, please vote for this (non-binding) proposal.
Very truly yours,
Phillip Goldstein
Chairman