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NXG NextGen Infrastructure Income Fund (symbol: NXG) is a closed-end investment management company that targets a high total return with a particular focus on generating current income. The Fund achieves this by investing a minimum of 80% of its net assets in a diversified portfolio comprising equity and debt securities of infrastructure companies. These companies span various sectors including energy infrastructure, industrial infrastructure, sustainable infrastructure, and technology & communication infrastructure.
The Fund is managed by Cushing® Asset Management, LP, operating under the name NXG Investment Management. This management team brings extensive experience and expertise in identifying and investing in high-potential infrastructure assets that align with long-term growth trends and sustainability goals.
One of the recent achievements of NXG is its strategic investments in sustainable infrastructure companies that are at the forefront of the global transition to renewable energy sources. These investments not only contribute to environmental sustainability but also aim to provide robust financial returns.
Moreover, NXG is actively involved in several cutting-edge projects in the technology and communication infrastructure sector. These projects include investments in next-generation communication networks and data centers, which are essential for supporting the growing demand for digital connectivity and data storage.
In terms of financial condition, NXG maintains a diversified portfolio to balance risk and reward and aims to provide investors with steady income through dividends. The Fund regularly updates its investors with detailed financial statements and performance reports, showcasing its commitment to transparency and accountability.
Partnerships play a crucial role in the Fund’s strategy. NXG collaborates with industry-leading infrastructure companies and financial advisors to enhance investment opportunities and optimize portfolio performance. This collaborative approach enables the Fund to stay ahead of market trends and adapt to evolving economic conditions.
For more information about NXG NextGen Infrastructure Income Fund and its investment strategies, you are encouraged to consult your financial advisor or visit the company's official communications.
The NXG NextGen Infrastructure Income Fund (NYSE: NXG) has announced the preliminary results of its transferable rights offering, which concluded on July 17, 2024. The offer, which began on June 20, 2024, allowed rights holders to subscribe for up to 867,238 common shares at a price of $37.25 per share. This price was set at 86% of the Fund's net asset value per share at the close of trading on the expiration date.
The offering was oversubscribed, indicating strong investor interest. The Fund expects to raise approximately $32,000,000 in gross proceeds, which it plans to invest in line with its investment objective and policies. Common shares will be issued after the completion of shareholder payments and the pro-rata allocation of shares for the over-subscription privilege.
The board of trustees of NXG NextGen Infrastructure Income Fund (NYSE: NXG) has approved the terms of a rights offering, allowing common shareholders as of June 20, 2024, to subscribe to new common shares. Shareholders will receive one right per share held, with the ability to purchase one new share for every three rights. The subscription period will end on July 17, 2024, and the subscription price will be based on a formula of 92.5% of the average sales price or 86% of net asset value, whichever is lower. The rights are transferable and will trade on the NYSE under 'NXG RT'. The offering aims to increase the fund's investment assets, taking advantage of new opportunities. Additionally, the July distribution record date has been moved to July 8, 2024, with a payout of $0.54 per share scheduled for July 31, 2024.
NXT NextGen Infrastructure Income Fund (NYSE: NXG) has announced monthly distributions of $0.54 per common share for June, July, and August 2024, payable on June 28, July 31, and August 30 respectively. These distributions are anticipated to be treated entirely as a return of capital. The final tax status will be determined in 2025. The fund, aimed at high total returns with a focus on current income, invests at least 80% of its net assets in equity and debt securities of infrastructure companies. to 25% in energy master partnerships, the fund's shares trade under the symbol 'NXG' on NYSE. Note that the Fund's distributions, market value, and net asset value (NAV) may fluctuate, and future distributions are not guaranteed.
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