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TORONTO, March 01, 2022 (GLOBE NEWSWIRE) -- Middlefield Group is pleased to announce that special meetings of unitholders of Global Innovation Dividend Fund (the “Innovation Fund”) (TSX: BL.UN), Sustainable Infrastructure Dividend Fund (the “Sustainable Infrastructure Fund”) (TSX: INF.UN), Global Dividend Growers Income Fund (together with the Innovation Fund and the Sustainable Infrastructure Fund, the “Converting Funds”) (TSX: GDG.UN) and Middlefield REIT INDEXPLUS ETF (“REIT INDEXPLUS”) (TSX: IDR) were held today at which unitholders voted in favour of respective resolutions authorizing the tax-deferred conversions of the Converting Funds into exchange-traded funds and amendments to REIT INDEXPLUS’ investment objectives and other amendments. The conversions and the implementation of the REIT INDEXPLUS investment objectives are expected to occur in mid-March 2022.
Middlefield Limited, manager of the Converting Funds and REIT INDEXPLUS, believes these product enhancements will better address the needs of financial advisors and investors by creating a more straightforward and cost-effective ETF platform of larger liquid investments with tighter bid-ask spreads, lower expense ratios and unit prices that trade closer to their net asset value.
Actively Managed Funds Focused on Equity Income
In keeping with our objective of providing value-added solutions that align with Middlefield’s areas of expertise and focus on equity income, these additions to our actively managed global ETF platform represent unique income generating strategies which, we believe, investors would have difficulty replicating with passive investment products.
For a detailed illustration of the proposed changes, please visit:
Completion of the conversions is subject to the receipt of all necessary approvals and customary closing conditions. A press release will be issued confirming when the conversions are complete.
For further information on the Funds, please visit our website at www.middlefield.com or contact Nancy Tham in our Sales and Marketing Department at 1.888.890.1868.
Certain statements in this press release may be viewed as forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, intentions, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "plans", "estimates" or "intends" (or negative or grammatical variations thereof), or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Statements which may constitute forward-looking statements relate to: the proposed timing and benefits of the conversions and the REIT INDEXPLUS investment objectives amendments. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements including as a result of changes in the general economic and political environment, changes in applicable legislation, and the performance of the Converting Funds and REIT INDEXPLUS. There are no assurances the Converting Funds or REIT INDEXPLUS can fulfill such forward-looking statements and the Converting Funds and REIT INDEXPLUS do not undertake any obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing Converting Funds and REIT INDEXPLUS, many of which are beyond the control of Converting Funds and REIT INDEXPLUS.