Abrdn Income Credit Strategies Fund : Fund Announces Closing of Reorganizations (03/13/2023)
March 13, 2023 at 09:59 am EDT
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FOR IMMEDIATE RELEASE
For More Information Contact: abrdn U.S. Closed-EndFunds Investor Relations 1-800-522-5465Investor.Relations@abrdn.com
ABRDN'S U.S. CLOSED-END FUNDS ANNOUNCE CLOSING OF
REORGANIZATIONS
(Philadelphia, March 13, 2023) -The Board of Trustees of each of abrdn Income Credit Strategies Fund ("ACP"), abrdn Global Dynamic Dividend Fund ("AGD") and abrdn Global Infrastructure Income Fund ("ASGI") (together the "Acquiring Funds") completed the reorganizations of the respective Acquired Funds, listed below, after close of regular business on March 10, 2023.
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 March 10, 2023.
Relevant details pertaining to the reorganizations are as follows:
Acquiring
Website for
Acquired Fund
Acquiring
Conversion
Fund
additional
Fund NAV
Ratio
information
per Share
($)
3/10/2023
ACP
abrdnacp.com
Delaware Ivy High Income
7.1889
1.615135
Opportunities Fund ("IVH")
AGD
abrdnagd.com
Delaware Enhanced Global
10.5040
0.835659
Dividend and Income Fund
("DEX")
Delaware Investments® Dividend
10.5040
0.801802
and Income Fund, Inc. ("DDF")
ASGI
abrdnasgi.com
Macquarie Global Infrastructure
20.3964
1.329043
Total Return Fund Inc. ("MGU")
There are no proposed changes to the current investment objective, strategies, structure or policies of the Acquiring Funds, including each Fund's monthly distribution policy as a result of the applicable reorganization.
We welcome the Delaware Funds by Macquarie and Macquarie Funds 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 December 31, 2022, we manage over $450 billion in assets on behalf of institutional and retail clients worldwide. We believe 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, abrdn Australia Limited, abrdn Asia Limited, Aberdeen Capital Management, LLC, abrdn ETFs Advisors LLC and abrdn Alternative Funds Limited.
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. Each 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 each 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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Aberdeen Income Credit Strategies Fund published this content on 13 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 March 2023 13:58:03 UTC.
abrdn Income Credit Strategies Fund (the Fund) is a non-diversified, closed-end management investment company. The Fundâs primary investment objective is to seek a high level of current income with a secondary objective of capital appreciation. The Fund seeks to achieve its investment objectives by opportunistically investing primarily in loan and debt instruments (and loan-related or debt-related instruments, including repurchase and reverse repurchase agreements and derivative instruments) of issuers that operate in a variety of industries and geographic regions. The Fundâs investment manager is abrdn Investments Limited.