abrdn and First Trust Announce Closing of Reorganizations of Certain First Trust Advised Funds With abrdn U.S. Closed-End Funds
23 Septiembre 2024 - 7:55AM
Business Wire
abrdn Income Credit Strategies Fund (NYSE: ACP) (“ACP”) and
abrdn Global Infrastructure Income Fund (NYSE: ASGI) (each, an
“Acquiring Fund”) announce today the completed reorganizations,
after close of regular business on September 20, 2024, of First
Trust/abrdn Global Opportunity Income Fund (NYSE: FAM) and
Macquarie/First Trust Global Infrastructure/ Utilities Dividend
& Income Fund (NYSE: MFD) (each, an “Acquired Fund”).
In the reorganizations, common shareholders of each Acquired
Fund, respectively, received an amount of Acquiring Fund common
shares with a net asset value equal to the aggregate net asset
value of their holdings of the relevant Acquired Fund common
shares, as determined at the close of regular business on September
20, 2024.
Relevant details pertaining to the reorganization are as
follows:
Acquiring Fund
Website for additional
information
Acquired Fund
Acquiring Fund NAV per Share
($) 9/20/2024
Conversion Ratio
ACP
abrdnacp.com
FAM
6.6387
1.014883
ASGI
abrdnasgi.com
MFD
21.1009
0.437280
There are no proposed changes to the current investment
objective, strategies, structure, or policies of the either
Acquiring Fund as a result of the reorganization.
abrdn welcomes the First Trust shareholders to the abrdn Fund
family. As a leading global asset manager, abrdn is dedicated to
creating long-term value for our clients. As of June 30, 2024,
abrdn manages over $466.8 billion in assets on behalf of
institutional and retail clients worldwide and believes that our
global footprint ensures that we are always close to our clients
and the challenges they face. For more information on the abrdn
range of open- end and closed-end mutual funds please visit
abrdn.com/us.
Important Information
In the United States, abrdn is the marketing name for the
following affiliated, registered investment advisers: abrdn Inc.,
abrdn Investments Limited, and abrdn Asia Limited.
First Trust Advisors LP. (“FTA”) is a federally registered
investment advisor and served as the investment advisor of each
Acquired Fund. FTA and its affiliate First Trust Portfolios L.P.
(“FTP”), a FINRA registered broker- dealer, are privately-held
companies that provide a variety of investment services. FTA has
collective assets under management or supervision of approximately
$228 billion as of June 30, 2024, through unit investment trusts,
exchange-traded funds, closed-end funds, mutual funds, and separate
managed accounts.
FTA is the supervisor of the First Trust unit investment trusts,
while FTP is the sponsor. FTP is also a distributor of mutual fund
shares and exchange-traded fund creation units. FTA and FTP are
based in Wheaton, Illinois.
The information in this press release is for informational
purposes only and shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to
buy any securities or the solicitation of any vote or approval in
any jurisdiction pursuant to or in connection with the proposed
transaction or otherwise, nor shall there be any sale, issuance or
transfer of securities in any jurisdiction in contravention of
applicable law. No offer of securities shall be made except by
means of a prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended.
Closed-end funds are traded on the secondary market through one
of the stock exchanges. An Acquiring Fund’s investment return and
principal value will fluctuate so that an investor’s shares may be
worth more or less than the original cost. Shares of closed-end
funds may trade above (a premium) or below (a discount) the net
asset value (NAV) of the fund’s portfolio. There is no assurance
that an Acquiring Fund will achieve its investment objective. Past
performance does not guarantee future results.
https://www.abrdn.com/en-us/cefinvestorcenter
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version on businesswire.com: https://www.businesswire.com/news/home/20240923125290/en/
abrdn U.S. Closed-End Funds Investor Relations 1-800-522-5465
Investor.Relations@abrdn.com
First Trust Advisors L.P. 1-800-988-5891
info@ftportfolios.com
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