Company: BWG
Filing Date: 2025-06-25
Form Type: N-CSRS
Source: 0001133228-25-006673
Chunk: 21

Company: BrandywineGLOBAL-Global Income Opportunities Fund Inc
Filing Date: 2025-06-25
Form: N-CSRS
Chunk 21
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, LLC (“Brandywine Global”) is the Fund’s subadviser. FTFA and Brandywine Global are indirect, wholly-owned subsidiaries of Franklin Resources, Inc. ( “ Franklin Resources ” ). FTFA provides administrative and certain oversight services to the Fund. The Fund pays an investment management fee, calculated daily and paid monthly, at an annual rate of 0.85% of the Fund’s average daily managed assets. “Managed assets” means net assets plus the amount of any borrowing and assets attributable to any preferred stock that may be outstanding. FTFA delegates to Brandywine Global the day-to-day portfolio management of the Fund. For its services, FTFA pays Brandywine Global a fee monthly, at an annual rate equal to 70% of the net management fee it receives from the Fund. During periods in which the Fund utilizes financial leverage, the fees paid to FTFA will be higher than if the Fund did not utilize leverage because the fees are calculated as a percentage of the Fund’s assets, including those investments purchased with leverage. Effective June 1, 2022, FTFA implemented a voluntary investment management fee waiver of 0.15% that continued until May 31, 2023. Effective June 1, 2023, FTFA implemented a voluntary investment management fee waiver of 0.20% that will continue until June 30, 2026. The manager has agreed to waive the Fund’s management fee to an extent sufficient to offset the net management fee payable in connection with any investment in an affiliated money market fund (the “ affiliated money market fund waivers ” ). During the six months ended April 30, 2025, fees waived and/or expenses reimbursed amounted to $256,533, which included an affiliated money market fund waiver of $1,855. All officers and one Director of the Fund are employees of Franklin Resources or its affiliates and do not receive compensation from the Fund. 3. Investments During the six months ended April 30, 2025, the aggregate cost of purchases and proceeds from sales of investments (excluding short-term investments) and U.S. Government & Agency Obligations were as follows:

|           | Investments | U.S. Government &Agency Obligations |
| Purchases | $84,820,631 |                         $29,380,321 |
| Sales     |  93,618,270 |                          38,067,449 |

32 BrandywineGLOBAL — Global Income Opportunities Fund Inc. 2025 Semi-