NEW YORK–(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 it held its Special Meeting of Stockholders (the “Meeting”) on November 9, 2022. At the Meeting, stockholders of the Acquired Fund voted to approve 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”).
As of the record date, August 11, 2022, the Acquired Fund had outstanding 12,303,293 shares of common stock. 60.79% of outstanding common stock were voted representing quorum.
It is currently expected that the Reorganization will be completed in the first quarter of 2023 subject to (i) approval by Acquiring Fund shareholders of the issuance of shares of the Acquiring Fund and (ii) the satisfaction of customary closing conditions.
Delaware Management Company, a series of Macquarie Investment Management Business Trust, is the investment manager of the Acquired Fund. abrdn Inc. is the investment adviser of the Acquiring Fund and Aberdeen Asset Managers Limited is the investment sub-adviser of the Acquiring Fund.
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.
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
© 2022 Macquarie Management Holdings, Inc.