NEW YORK, February 02, 2023--(BUSINESS WIRE)--Today, Macquarie Global Infrastructure Total Return Fund Inc. (the "Acquired Fund"), a New York Stock Exchange-listed closed-end fund trading under the symbol "MGU", announced that the Acquired Fund will make final distributions in connection with the reorganization of the Acquired Fund into abrdn Global Infrastructure Income Fund (the "Acquiring Fund"), a New York Stock Exchange-listed closed-end fund trading under the symbol "ASGI" (the "Reorganization"). The final distribution will be payable March 3, 2023 to common shareholders of record on February 24, 2023. The final Acquired Fund distributions will consist of substantially all of the Acquired Fund’s undistributed tax-exempt interest income, ordinary income and capital gain net income, if any, earned and anticipated to be earned through close of business on March 10, 2023. In early 2024, common shareholders of the Acquired Fund will receive a Form 1099-DIV for the calendar year 2023 that will tell shareholders how to report these distributions for federal income tax purposes.
The final distribution is as follows:
ESTIMATED DIVIDEND PER SHARE
Macquarie Global Infrastructure Total Return Fund Inc.
The final distribution is being made in connection with an Agreement and Plan of Acquisition (the "Plan of Acquisition") providing for (i) the acquisition by the Acquiring Fund of substantially all of the assets of the Acquired Fund, in exchange for newly issued common shares of the Acquiring Fund; (ii) the distribution of such newly issued common shares of the Acquiring Fund to holders of common shares of the Acquired Fund; and (iii) the dissolution of the Acquired Fund thereafter. The Plan of Acquisition was approved by shareholders at the Special Meeting of Shareholders held on November 9, 2022, and the transaction is currently anticipated to close on or about March 10, 2023 at approximately 5:00pm ET. Following completion of the acquisition, the Acquired Fund will be delisted.
About the Acquired Fund
Macquarie Global Infrastructure Total Return Fund Inc., a diversified closed-end fund, is listed on the New York Stock Exchange. The Fund’s investment adviser is Delaware Management Company ("Investment Adviser"), a series of Macquarie Investment Management Business Trust, which is a subsidiary of Macquarie Management Holdings, Inc. ("MMHI"). MMHI is a subsidiary, and subject to the ultimate control, of Macquarie Group Limited. 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 $US508 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.
The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its total assets (which includes the aggregate of the Fund’s average daily net assets plus proceeds from any outstanding borrowings used for leverage) in equity and equity-like securities and instruments, such as common stocks, preferred stocks, convertible securities and hybrid securities issued by US and non-US issuers (Infrastructure Issuers) that primarily own or operate Infrastructure Assets. "Infrastructure Assets" are an underlying foundation of basic services, facilities and institutions upon which the growth and development of a community depends and may provide the necessities of everyday life, such as fresh water, roads, airports, utilities, power, steam heating systems, hospitals, schools and other social services.
Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost. An investor should consider the Fund's investment objective, risks, charges and expenses carefully before investing. Forward-looking statements are based on information that is available on the date hereof, and neither the Investment Adviser nor any other person affiliated with the Investment Adviser has any duty to update any forward-looking statements. Important factors that could affect actual results to differ from these statements include, among other factors, material, negative changes to the asset class and the actual composition of the portfolio.
1 As of September 30, 2022
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.
© 2023 Macquarie Management Holdings, Inc.
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