Clough Global Allocation Fund (the fund) is a closed-end management investment company. The Fund is a non-diversified series with an investment objective to provide a high level of total return. The Fund intends to invest in a managed mix of equity and debt securities. Investments in non-United States markets will be made primarily through liquid securities, including depositary receipts (which evidence ownership in underlying foreign securities). Investments in corporate debt may include both investment grade and non-investment grade issues. The Fund will not invest more than 20% of its total assets in securities rated, at the time of acquisition, below investment grade. The Fund will not invest more than 20% of its total assets, at the time of acquisition, in securities of governments and companies in emerging markets. Clough Capital Partners L.P. (Clough) serves as the Fund�s investment adviser.