A diversified, actively managed portfolio comprised primarily of
dividend-paying securities with a focus on the U.S. Core Sectors.
CALGARY, Oct. 29, 2013 /CNW/ - Middlefield Group, on behalf of American
Core Sectors Dividend Fund (the "Fund"), is pleased to announce that it has filed a preliminary
prospectus in relation to an initial public offering of units at a
price of $10.00 per unit.
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
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
Prospective purchasers investing in American Core Sectors Dividend Fund will have the option of paying for units in cash or by exchanging
securities of issuers listed in the preliminary prospectus. Prospective
purchasers under the exchange option will be required to deposit their
exchange eligible securities prior to 5:00 p.m. (Toronto time) on
November 21, 2013 in the manner described in the preliminary
The syndicate of agents is being co-led by CIBC and RBC Capital Markets
and includes 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., Macquarie Private Wealth
Inc. and Manulife Securities Incorporated.
A preliminary prospectus containing important information relating to
these securities has been filed with securities commissions or similar
authorities in all jurisdictions of Canada. The preliminary prospectus
is still subject to completion or amendment. Copies of the preliminary
prospectus may be obtained from any of the agents named above using the
contact information for such agent. There will not be any sale or any
acceptance of an offer to buy the securities until a receipt for the
final prospectus has been issued.
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.