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
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
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.