Encore Capital vs AllianceBernstein Global High Income Fund

This page compares Encore Capital (Encore Capital Group Inc) and AllianceBernstein Global High Income Fund (AllianceBernstein Global High Income Fund Inc), examining business models, financial performance, and market context to help readers understand how each organisation operates in its sector. Educational content, not financial advice.

This page compares Encore Capital (Encore Capital Group Inc) and AllianceBernstein Global High Income Fund (AllianceBernstein Global High Income Fund Inc), examining business models, financial perform...

Comparison Snapshot

Key Financial Metrics

ECPG

Metric

AWF

$1.23B

Market Cap

$906.27M

7.42%

Potential Profit

N/A

Buy

Analyst Rating

N/A

Investment Analysis

Encore Capital

ECPG

Pros

Global portfolio purchases rose 23% in Q3 2025, reflecting strong growth and increased market demand.
Collections reached a record $663 million, up 20%, demonstrating effective operational execution and cash flow strength.
Earnings per share surged 152% year-on-year, highlighting robust profit growth and financial health.

Considerations

Business model is highly sensitive to economic cycles, with collections and portfolio performance vulnerable to downturns.
Reliance on acquiring distressed debt exposes the company to regulatory and legal risks in multiple jurisdictions.
Sharp rise in earnings is partly due to favourable comparables, raising questions about sustainability of growth rates.

AllianceBernstein Global High Income Fund

AWF

Pros

Diversified global fixed-income portfolio provides exposure to a wide range of income-generating assets.
High dividend yield of over 7% offers attractive income for yield-focused investors.
Invests in both government bonds and lower-rated corporate debt, balancing risk and return opportunities.

Considerations

Closed-end fund structure can lead to persistent share price discounts relative to net asset value.
Exposure to lower-rated corporate debt increases credit risk, especially during periods of economic stress.
Performance is sensitive to interest rate changes, with rising rates potentially reducing bond values and income.

About The Companies

Encore Capital (ECPG)

Encore Capital Group Inc (ECPG) is a US-listed specialised consumer debt buyer and collector. The company purchases charged-off retail and credit-card receivables at discounts, then seeks recovery through in‑house collections and legal channels, generating cash flow from repayments and settlements. With a market cap of about $987 million, Encore’s earnings are linked to portfolio acquisition economics, recovery rates and operational efficiency. Key factors for investors include sensitivity to macroeconomic conditions, regulatory and litigation risk in multiple jurisdictions, and the company’s leverage and funding costs. Encore has been investing in analytics and digital channels to improve recovery while managing compliance. Potential upside comes from disciplined portfolio pricing and recovery improvements; downside stems from tougher regulation, borrower financial stress, or poor portfolio performance. This summary is educational only and not investment advice; outcomes can vary and investors should assess suitability for their own risk profile or consult a financial adviser.

AllianceBernstein Global High Income Fund (AWF)

AllianceBernstein Global High Income Fund Inc. is a closed-end investment fund that trades on the stock market. Its main goal is to generate a high level of current income for its investors, with capital appreciation as a secondary objective. To achieve this, the fund invests in a diverse portfolio of debt securities from around the world. This includes corporate bonds from both US and international companies, as well as government bonds from developed and emerging market countries. The fund primarily focuses on higher-yielding, lower-rated bonds, sometimes known as 'high-yield' bonds, but can also hold investment-grade and unrated debt. This global, multi-sector approach gives investors exposure to a broad slice of the global credit market. As with any investment, targeting higher yields involves taking on greater risk, and the value of the fund can go down as well as up.

Which Baskets Do They Appear In?

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The Federal Reserve has held interest rates steady, with Chair Jerome Powell pushing back on expectations for a near-term cut. This creates an investment opportunity in companies that can thrive in a sustained high-interest-rate environment due to strong balance sheets and pricing power.

Published: July 31, 2025

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Financially Fit

These carefully selected companies showcase exceptional financial discipline with fortress-like balance sheets. Our professional analysts have identified businesses with minimal debt and strong cash positions, giving them the resilience to thrive in any economic environment.

Published: June 18, 2025

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Phoenixes

These remarkable companies have risen from the ashes of bankruptcy or severe financial distress. Our analysts have carefully selected businesses that emerged stronger, leaner, and ready for their second act of growth after successful restructuring.

Published: June 17, 2025

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Which Baskets Do They Appear In?

Profiting From The Fed's Firm Stance

The Federal Reserve has held interest rates steady, with Chair Jerome Powell pushing back on expectations for a near-term cut. This creates an investment opportunity in companies that can thrive in a sustained high-interest-rate environment due to strong balance sheets and pricing power.

Published: July 31, 2025

Explore Basket

Financially Fit

These carefully selected companies showcase exceptional financial discipline with fortress-like balance sheets. Our professional analysts have identified businesses with minimal debt and strong cash positions, giving them the resilience to thrive in any economic environment.

Published: June 18, 2025

Explore Basket

Phoenixes

These remarkable companies have risen from the ashes of bankruptcy or severe financial distress. Our analysts have carefully selected businesses that emerged stronger, leaner, and ready for their second act of growth after successful restructuring.

Published: June 17, 2025

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Lean & Mean

These companies have turned operational efficiency into an art form. Carefully selected by our expert investors, this collection features businesses that excel at maximizing profits while minimizing waste, creating resilient performers in any economic climate.

Published: June 17, 2025

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Corporate Dragons: The Fortresses

Meet the financial titans built on massive cash reserves and minimal debt. These carefully selected companies offer exceptional stability during economic turbulence, giving your portfolio a strong defensive anchor when markets get rough.

Published: June 17, 2025

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Comparison Snapshot