Delaware Enhanced Global Dividend and Income Fund announces Board approval of reorganization with abrdn Global Dynamic Dividend Fund
11 Agosto 2022 - 6:15PM
Business Wire
Today, Delaware Enhanced Global Dividend and Income Fund (the
“Acquired Fund”), a New York Stock Exchange-listed closed-end fund
trading under the symbol “DEX”, announced that its Board of
Trustees (the “Board”) approved the reorganization of the Acquired
Fund into arbdn Global Dynamic Dividend Fund (the “Acquiring
Fund”), a New York Stock Exchange-listed closed-end fund trading
under the symbol “AGD” (the “Reorganization”).
It is currently expected that the Reorganization will be
completed in the first quarter of 2023 subject to (i) approval of
the Reorganization by the Acquired Fund shareholders, (ii) approval
by Acquiring Fund shareholders of the issuance of shares of the
Acquiring Fund, and (iii) the satisfaction of customary closing
conditions.
Delaware Management Company, a series of Macquarie Investment
Management Business Trust, is the investment manager of the
Acquired Fund. Macquarie Investment Management Austria
Kapitalanlage AG is the sub-adviser of the Acquired Fund and
provides asset allocation services to the Acquired Fund. Aberdeen
Asset Managers Limited is the investment adviser of the Acquiring
Fund.
This press release is not intended to, and does not constitute
an offer to purchase or sell shares of the Acquired Fund or
Acquiring Fund nor is this press release intended to solicit a
proxy from any shareholder of any of the Acquired Fund or Acquiring
Fund. The solicitation of the purchase or sale of securities or of
proxies to effect the Reorganization will only be made by a
definitive Proxy Statement/Prospectus of the Acquired Fund and
Acquiring Fund and a definitive Proxy Statement of the Acquiring
Fund.
The Proxy Statement/Prospectus and the Proxy Statement have yet
to be filed with the US Securities and Exchange Commission (the
“SEC”). After the Proxy Statement/Prospectus and Proxy Statement
are filed with the SEC, each may be amended or withdrawn. The Proxy
Statement/Prospectus will not be distributed to shareholders of the
Acquired Fund unless and until a Registration Statement comprising
of the Proxy Statement/Prospectus is declared effective by the
SEC.
SHAREHOLDERS OF THE ACQUIRED FUND ARE URGED TO READ CAREFULLY
THE PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED WITH THE
SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE
BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT
THE REORGANIZATION. SHAREHOLDERS SHOULD CONSIDER THE INVESTMENT
OBJECTIVES, RISKS, CHARGES, AND EXPENSES OF THE ACQUIRED FUND AND
ACQURING FUND. THE PROXY STATEMENT/PROSPECTUS WILL CONTAIN
INFORMATION WITH RESPECT TO THE INVESTMENT OBJECTIVES, RISKS,
CHARGES, AND EXPENSES OF THE ACQUIRED FUND AND ACQUIRING FUND.
The Proxy Statement/Prospectus will not constitute an offer to
buy or sell securities, in any state where such offer or sale is
not permitted.
Acquired Fund Shareholders may obtain free copies (when they
become available) of the Proxy Statement/Prospectus and other
documents filed with the SEC at the SEC’s web site at www.sec.gov.
In addition, free copies (when they become available) of the Proxy
Statement/Prospectus and other documents filed with the SEC may
also be obtained by directing a request to the Acquired Fund at
(866) 437-0252 or visiting its website at
delawarefunds.com/closed-end.
About the Acquired Fund
The Fund is a diversified closed-end fund. The Fund's primary
investment objective is to seek current income, with a secondary
objective of capital appreciation. Under normal market conditions,
the Fund invests globally at least 80% of its assets in a
combination of dividend-paying or income-generating securities
across multiple asset classes, including but not limited to: equity
securities of large, well-established companies; securities issued
by real estate companies (including real estate investment trusts
and real estate industry operating companies); debt securities
(such as government bonds; investment grade and high risk, high
yield corporate bonds; and convertible bonds); and emerging market
securities. The Fund also uses enhanced income strategies by
engaging in dividend capture trading; option overwriting; and
realization of gains on the sale of securities, dividend growth,
and currency forwards. There is no assurance that the Fund will
achieve its investment objectives.
Under normal market conditions, the Fund will invest: (1) at
most 60% of its net assets in securities of US issuers; (2) at
least 40% of its net assets in securities of non-US issuers, unless
market conditions are not deemed favorable by the Manager, in which
case, the Fund would invest at least 30% of its net assets in
securities of non-US issuers; and (3) up to 25% of its net assets
in securities issued by real estate companies (including real
estate investment trusts and real estate industry operating
companies). In addition, the Fund utilizes leveraging techniques in
an attempt to obtain higher return for the Fund.
About Macquarie Asset Management
Macquarie Asset Management is a global asset manager that aims
to deliver positive impact for everyone. Trusted by institutions,
pension funds, governments, and individuals to manage more than
$US579 billion in assets globally,1 we provide access to specialist
investment expertise across a range of capabilities including
infrastructure, green investments & renewables, real estate,
agriculture & natural assets, asset finance, private credit,
equities, fixed income and multi asset solutions.
Advisory services are provided by Delaware Management Company, a
series of Macquarie Investment Management Business Trust, a
registered investment adviser. Macquarie Asset Management is part
of Macquarie Group, a diversified financial group providing clients
with asset management, finance, banking, advisory and risk and
capital solutions across debt, equity, and commodities. Founded in
1969, Macquarie Group employs more than 18,000 people in 33 markets
and is listed on the Australian Securities Exchange. For more
information about Delaware Funds by Macquarie®, visit
delawarefunds.com or call 800 523-1918.
Other than Macquarie Bank Limited ABN 46 008 583 542
(“Macquarie Bank”), any Macquarie Group entity noted in this press
release is not an authorised deposit-taking institution for the
purposes of the Banking Act 1959 (Commonwealth of Australia). The
obligations of these other Macquarie Group entities do not
represent deposits or other liabilities of Macquarie Bank.
Macquarie Bank does not guarantee or otherwise provide assurance in
respect of the obligations of these other Macquarie Group entities.
In addition, if this press release relates to an investment, (a)
the investor is subject to investment risk including possible
delays in repayment and loss of income and principal invested and
(b) none of Macquarie Bank or any other Macquarie Group entity
guarantees any particular rate of return on or the performance of
the investment, nor do they guarantee repayment of capital in
respect of the investment.
1 As of March 31, 2022
© 2022 Macquarie Management Holdings, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20220811005770/en/
Investors Computershare 866 437-0252
delawarefunds.com/closed-end
Media contact Lee Lubarsky 347 302-3000
Lee.Lubarsky@macquarie.com
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