Stone Harbor Emerging Markets Income Fund (“the Fund”), which is traded
on the New York Stock Exchange under the symbol “EDF”, announced the
declaration of monthly distributions of $0.18 per common share, payable
on the dates noted below. Based of the Fund’s current share price of
$17.44 and net asset value per share of $18.79 (as of close on October
14, 2014), the distributions represent an annualized distribution rate
of 12.39% and 11.50% respectively.
The following dates apply to the distributions declared:
Ex-Distribution Date: November 6, 2014
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Record Date: November 10, 2014
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Payable Date: November 20, 2014
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Ex-Distribution Date: December 4, 2014
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Record Date: December 8, 2014
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Payable Date: December 18, 2014
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Ex-Distribution Date: January 14, 2015
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Record Date: January 16, 2015
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Payable Date: January 29, 2015
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This press release is not for tax reporting purposes but is being
provided to announce the amount of the Fund’s distributions that have
been declared by the Board of Directors. In early 2015 and 2016, after
definitive information is available, the Fund will send shareholders a
Form 1099-DIV, if applicable, specifying how the distributions paid by
the Fund during the prior calendar year should be characterized for
purposes of reporting the distributions on a shareholder’s tax return
(e.g., ordinary income, long-term capital gain or return of capital).
The Fund is a non-diversified, closed-end management investment company
that is managed by Stone Harbor Investment Partners LP (“Stone Harbor”).
The Fund’s primary investment objective is to maximize total return,
which consists of income on its investments and capital appreciation.
There is no assurance that the Fund will achieve its investment
objective.
The Fund seeks to achieve its investment objective by investing at least
80% of its net assets (plus borrowings for investment purposes) in
emerging markets securities (“the 80% policy”), which include fixed
income securities and other instruments, including derivatives, that are
economically tied to emerging market countries, that are denominated in
the predominant currency of the local market of an emerging market
country or whose performance is linked to those countries’ markets,
currencies, economies or ability to repay loans. A security or
instrument is economically tied to an emerging market country if it is
principally traded on the country’s securities markets or if the issuer
is organized or principally operates in the country, derives a majority
of its income from its operations within the country or has a majority
of its assets within the country.
Stone Harbor Investment Partners LP is a global institutional
fixed-income investment manager specializing in credit and asset
allocation strategies. The firm manages institutional clients’ assets in
a range of investment products: emerging markets debt, high yield, bank
loans, as well as multi-strategy products, such as global high yield and
core plus. The firm’s investment strategies are based on fundamental
insights, derived from a combination of proprietary research and the
in-depth knowledge and specialized experience of the firm’s team.
Founded in 2006 and based in New York, Stone Harbor employs over 150
people across our locations in New York, London, and Singapore. Stone
Harbor Investment Partners LP is an employee-owned partnership with
$64.8 billion in assets under management as of August 31, 2014. For more
information, please visit Stone Harbor’s website at www.shiplp.com.
For more complete information, please call 877.206.0791 (toll-free) or
visit the Fund’s website - www.shiplpcef.com.
The Stone Harbor Emerging Markets Income Fund is a closed-end fund and
closed-end funds do not continuously issue shares for sale as open-end
mutual funds do. Since its initial public offering, the Fund has traded
on the New York Stock Exchange under the symbol EDF. Investors wishing
to buy or sell shares need to place orders through an intermediary or
broker.
Copyright Business Wire 2014