Fund overview
The Duff & Phelps Global Utility Income Fund Inc. (NYSE: DPG) is a non-diversified, closed-end investment company initially offered to the public in July 2011. The Fund’s investment objective is to seek total return, resulting primarily from (i) a high level of current income, with an emphasis on providing tax-advantaged dividend income, and (ii) growth in current income, and secondarily from capital appreciation.
The Fund seeks to achieve its investment objectives by investing primarily in equities of domestic and foreign utilities. The Fund’s investment strategies endeavor to take advantage of the income and growth characteristics, as well as historical performance, of equities in utility industries.
Under normal market conditions, the Fund will invest at least 80% of its total assets in dividend-paying equity securities of companies in the utility industry, which is defined to include the following sectors: electric, gas, water, telecommunications, and midstream energy.
Under normal market conditions, the Fund will invest no more than 60% of its total assets in any one of those five sectors. No more than 20% of the Fund’s total assets will be invested in securities of midstream energy companies that are not regulated by a governmental agency. In addition, under normal circumstances, the Fund will invest no more than 10% of its total assets in securities of any single issuer. Under normal market conditions, the Fund will invest at least 80% of its total assets in issuers located in at least three countries, including the United States. The percentage of the Fund’s assets invested in issuers located outside the United States will vary over time, but under normal market conditions will constitute no less than 40% and no more than 75% of the Fund’s total assets. No more than 15% of the Fund’s total assets will be invested in issuers located in “emerging market” countries.