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Macquarie Global Infrastructure Total Return Fund Inc. Announces Date of Reorganization Into abrdn Global Infrastructure Income Fund
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NEW YORK--(BUSINESS WIRE)--
Today, Macquarie Global Infrastructure Total Return Fund Inc. (the “Fund”), a New York Stock Exchange (NYSE)-listed closed-end fund trading under the symbol “MGU”, announced that the anticipated closing date of the reorganization of the Fund into abrdn Global Infrastructure Income Fund, a NYSE-listed closed-end fund trading under the symbol “ASGI” (the “Reorganization”), will be completed by the open of business on the NYSE on Monday, March 13, 2023, subject to the satisfaction of customary closing conditions. To facilitate the Reorganization, all shares of the Fund will cease trading on the NYSE as of market close on Friday, March 10, 2023.
The Reorganization, if completed, would occur based on the relative net asset value of the common shares of the Fund.
Further details on any applicable special distribution will be made available in a future press release.
About the 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.
Macquarie Global Infrastructure Total Return Fund Inc. (MGU) seeks to achieve its investment objective by investing at least 80 per cent of its total assets in equity and equity like securities issued by US and non-US issuers that primarily own or operate infrastructure assets (Infrastructure Issuers). In pursuit of its investment objective, the Fund will also seek to manage its investment so that at least 25 per cent of its distributions may qualify as tax-advantaged 'qualified dividend income' for US federal tax income purposes. It is anticipated that most of the Infrastructure Issuers in which the Fund will invest will be public companies listed on national or regional stock exchanges. The Manager will seek to identify and select investments in Infrastructure Issuers that, over the long term, are anticipated to produce consistent and stable dividend yield, and capital appreciation commensurate with the underlying risk of the investment. The Manager believes that analysis of an Infrastructure Issuer's underlying assets is key in determining the long-term quality of the company's potential revenue and income streams. The Manager believes that investments made on the basis of a systematic, bottom-up, fundamentals-based approach, identifying long-term potential value in Infrastructure Issuers, should outperform investments made on the basis of short-term market factors.
