Market Overview

AllianceBernstein Global High Income Fund Releases Monthly Portfolio Update

NEW YORK, Dec. 24, 2012 /PRNewswire/ -- AllianceBernstein Global High Income Fund, Inc. [NYSE: AWF] (the "Fund") today released its monthly portfolio update as of November 30, 2012.

AllianceBernstein Global High Income Fund, Inc.


Top 10 Fixed Income Holdings



Portfolio %

1) U.S. Treasury Bonds 3.125%, 2/15/42

1.82%

2) Russian Agricultural Bank OJSC Via RSHB Capital SA 7.75%, 5/29/18

0.93%

3) Republic of Brazil 12.50%, 1/05/22

0.87%

4) Argentina Bonos 7.00%, 10/03/15

0.81%

5) Ivory Coast Government International Bond 3.75%, 12/31/32

0.76%

6) Dominican Republic International Bond 8.625%, 4/20/27

0.68%

7) Turkey Government Bond 9.00%, 1/27/16

0.63%

8) El Salvador Government International Bond 7.65%, 6/15/35

0.52%

9) South Africa Government Bond Series R207 7.25%, 1/15/20

0.48%

10) Argentina Bonos Series X 7.00%, 4/17/17

0.47%



Fixed Income Holdings by Security Type


Portfolio %

Corporates - Non-Investment Grades


     Industrial


          Consumer Non-Cyclical

6.81%

          Capital Goods

5.72%

          Energy

4.60%

          Communications - Media

4.50%

          Basic

4.07%

          Technology

3.67%

          Consumer Cyclical - Other

3.49%

          Communications - Telecommunications

3.38%

          Consumer Cyclical - Automotive

1.67%

          Services

1.66%

          Other Industrial

1.55%

          Consumer Cyclical - Retailers

1.41%

          Transportation - Services

0.95%

          Consumer Cyclical - Entertainment

0.68%

          Transportation - Airlines

0.44%

          Consumer Cyclical - Restaurants

0.25%

          Transportation - Railroads

0.03%

     SUBTOTAL

44.88%

     Financial Institutions


          Banking

1.77%

          Finance

1.11%

          Other Finance

0.88%

          Insurance

0.59%

          Brokerage

0.36%

     SUBTOTAL

4.71%

     Utility

          Electric

1.82%

          Natural Gas

0.99%

     SUBTOTAL

2.81%

SUBTOTAL

52.40%

Governments - Treasuries

     Treasuries

8.14%

SUBTOTAL

8.14%

Corporates - Investment Grades


     Financial Institutions


          Insurance

2.28%

          Banking

1.68%

          REITS

0.48%

          Finance

0.39%

          Other Finance

0.21%

          Brokerage

0.09%

     SUBTOTAL

5.13%

     Industrial

          Basic                                        

1.13%

          Energy                                      

0.36%

          Consumer Cyclical - Other          

0.29%

          Other Industrial                 

0.18%

          Communications - Telecommunications    

0.17%

          Capital Goods                   

0.10%

          Consumer Cyclical - Retailers       

0.08%

          Transportation - Airlines              

0.07%

     SUBTOTAL                              

2.38%

     Non Corporate Sectors

          Agencies - Not Government Guaranteed       

0.39%

     SUBTOTAL                                   

0.39%

     Utility

          Electric                      

0.15%

     SUBTOTAL                        

0.15%

SUBTOTAL                              

8.05%

Emerging Markets - Sovereigns              

4.56%

Collateralized Mortgage Obligations

     Non-Agency Fixed Rate                          

2.44%

     Non-Agency Floating Rate                      

1.75%

SUBTOTAL                                           

4.19%

Emerging Markets - Corporate Bonds


     Industrial


          Basic                                   

1.16%

          Consumer Cyclical - Other      

0.57%

          Communications - Media        

0.52%

          Consumer Non-Cyclical          

0.41%

          Other Industrial                      

0.33%

          Capital Goods                        

0.29%

          Technology                             

0.23%

          Communications - Telecommunications      

0.21%

          Transportation - Services       

0.13%

          Energy                               

0.09%

          Consumer Cyclical - Retailers          

0.08%

     SUBTOTAL                                    

4.02%

     Financial Institutions


          Other Finance                       

0.14%

          Banking                                

0.03%

     SUBTOTAL                              

0.17%

SUBTOTAL                                

4.19%

Commercial Mortgage-Backed Securities

     Non-Agency Fixed Rate CMBS              

2.85%

     Non-Agency Floating Rate CMBS           

0.22%

SUBTOTAL                                         

3.07%

Bank Loans


     Industrial

          Technology           

0.47%

          Consumer Non-Cyclical          

0.33%

          Basic                                    

0.32%

          Consumer Cyclical - Other      

0.27%

          Consumer Cyclical - Automotive         

0.24%

          Communications - Media                   

0.19%

          Consumer Cyclical - Retailers             

0.15%

          Other Industrial                               

0.11%

          Capital Goods                                  

0.09%

          Consumer Cyclical - Entertainment  

0.09%

          Energy                     

0.07%

          Services                    

0.01%

     SUBTOTAL                      

2.34%

     Financial Institutions

          REITS                                

0.30%

     SUBTOTAL                         

0.30%

     Non Corporate Sectors

          Foreign Local Government - Municipal

0.08%

     SUBTOTAL                                       

0.08%

     Utility

          Other Utility                                     

0.08%

     SUBTOTAL                                       

0.08%

SUBTOTAL                                        

2.80%

Quasi-Sovereigns

     Quasi-Sovereign Bonds                        

2.31%

SUBTOTAL                                          

2.31%

Emerging Markets - Treasuries               

1.90%

Asset-Backed Securities

     Home Equity Loans - Fixed Rate             

0.75%

     Home Equity Loans - Floating Rate          

0.40%

SUBTOTAL                                             

1.15%

Preferred Stocks

     Financial Institutions                                 

1.05%

     Non Corporate Sectors                               

0.01%

SUBTOTAL                                                

1.06%

Local Governments - Municipal Bonds           

0.95%

Governments - Sovereign Agencies                

0.90%

Supranationals                                            

0.58%

Local Governments - Regional Bonds             

0.55%

Governments - Sovereign Bonds                     

0.45%

Inflation-Linked Securities                               

0.44%

Common Stocks                                             

0.19%

Options Purchased - Puts

     Options on Funds and Investment Trusts            

0.10%

SUBTOTAL                                                   

0.10%

Short-Term Investments

     Investment Companies                                   

1.88%

     Governments - Sovereign Bonds                       

0.14%

Total Fixed Income                                      

100.00%





Country Breakdown


Portfolio %

United States                        

65.26%

Brazil                                     

3.56%

Russia                                    

3.51%

United Kingdom                        

3.17%

Argentina                                  

1.45%

Luxembourg                               

1.42%

Canada                                       

1.29%

Dominican Republic                      

1.15%

Netherlands                                   

1.08%

Germany                  

1.00%

South Africa               

0.96%

Turkey                        

0.90%

Indonesia                     

0.78%

El Salvador                    

0.77%

Cote D'Ivoire                    

0.76%

Switzerland                      

0.76%

Mexico                             

0.76%

Hungary                             

0.67%

Ireland                                 

0.63%

Italy                                      

0.61%

Peru       

0.58%

Supranational   

0.58%

Ukraine             

0.58%

United Arab Emirates 

0.51%

Colombia                    

0.48%

France                         

0.48%

Portugal  

0.48%

Spain             

0.48%

Kazakhstan     

0.46%

Croatia             

0.45%

Uruguay       

0.44%

Australia       

0.35%

Chile              

0.33%

Japan              

0.32%

Barbados          

0.31%

India                  

0.31%

Philippines          

0.28%

Serbia                  

0.25%

Ghana                     

0.23%

China                       

0.21%

Norway                      

0.21%

Sweden                      

0.18%

Hong Kong                   

0.18%

Trinidad & Tobago          

0.15%

Nigeria                           

0.14%

Singapore                        

0.12%

Czech Republic                 

0.11%

Bermuda                            

0.09%

Denmark                       

0.08%

Austria                           

0.08%

Virgin Islands (BVI)           

0.06%

Total Investments               

100.00%





Net Currency Exposure Breakdown


Portfolio %

United States Dollar     

99.26%

Mexican Peso              

2.00%

New Turkish Lira            

1.03%

Brazilian Real                 

0.66%

Dominican Peso              

0.52%

Russian Rubles                

0.49%

Uruguayan Peso                

0.49%

Philippine Peso                   

0.31%

Colombian Peso                   

0.23%

Chilean Peso                         

0.23%

Nigerian Naira                         

0.15%

Hungarian Forint                       

0.11%

Indonesian Rupiah                     

0.08%

Australian Dollar                         

0.04%

South African Rand                      

-0.01%

Great British Pound                       

-0.03%

Canadian Dollar    

-1.09%

Japanese Yen       

-1.88%

Euro                      

-2.59%

Total Investments     

100.00%





Credit Quality Breakdown


Portfolio %

          AAA 

5.57%

          AA       

0.30%

          A          

6.64%

          BBB       

15.73%

          BB            

23.40%

          B               

30.57%

          CCC            

12.13%

          CC               

0.35%

          C                  

0.03%

          D                   

0.76%

          Not Rated                            

2.49%

          Short Term Investments         

2.03%

          Total Investments                   

100.00%


Portfolio Statistics:

     Average Coupon:                       

8.63%

     Average Bond Price :                  

N/A

     Percentage of Leverage:

          Bank Borrowing:                          

0.00%

          Investment Operations:                  

11.46%*

          Preferred Stock:                             

0.00%

          Tender Option Bonds:                      

0.00%

          Term Asset-Backed Loans Facility (TALF): 

0.00%

          Total Fund Leverage:        

11.46%

     Average Maturity:              

7.41 Years

     Effective Duration:              

4.88 Years

     Total Net Assets:                

$1,333.09 Million

     Net Asset Value:                  

$15.52

     Number of Holdings:               

937

     Portfolio Turnover:                    

26%

* Investment Operations may include the use of certain portfolio management techniques such as credit default swaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued
securities.

The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P.

SOURCE AllianceBernstein Global High Income Fund, Inc.

 

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