American Core Sectors Dividend Fund completes IPO

A diversified, actively managed portfolio comprised primarily of dividend-paying securities with a focus on the U.S. Core Sectors

CALGARY, Dec. 19, 2013 /CNW/ - Middlefield Group, on behalf of American Core Sectors Dividend Fund (the "Fund"), is pleased to announce that the Fund has completed its initial public offering of 5,000,000 units at a price of $10.00 per unit for gross proceeds of $50 million. The units are listed on the Toronto Stock Exchange under the symbol ACZ.UN.

The Fund's investment objectives are to provide:

(i)  unitholders with stable monthly cash distributions; and

(ii) long-term total return through capital appreciation of the Fund's investment portfolio;

through an investment strategy which focuses on a diversified, actively managed portfolio comprised primarily of dividend-paying securities with a focus on the U.S. consumer, financials, industrials and information technology sectors (collectively, the "Core Sectors") that are expected by Middlefield Capital Corporation to benefit from growth in the U.S. economy.

The initial target distribution yield for the Fund is 5.5% per annum based on the original subscription price (or $0.04583 per unit per month or $0.55 per unit per annum).

Middlefield Capital Corporation will act as the investment advisor to the Fund.  Middlefield Limited will act as Manager of the Fund.

The syndicate of agents was co-led by CIBC and RBC Capital Markets and included Scotiabank, BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Mackie Research Capital Corporation, Middlefield Capital Corporation, Dundee Securities Ltd. and Manulife Securities Incorporated.

This offering is only made by prospectus.  The prospectus contains important detailed information about the securities being offered.  Copies of the prospectus may be obtained from your IIROC registered financial advisor using the contact information for such advisor.  Investors should read the prospectus before making an investment decision.

SOURCE: American Core Sectors Dividend Fund

For further information:

please visit our website at www.middlefield.com or contact Nancy Tham, Managing Director, Sales and Marketing, at 416.847.5349 or 1.888.890.1868.


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