CALGARY, June 10, 2015 /CNW/ - Middlefield Group is pleased to announce a special meeting of unitholders of ENERGY INDEXPLUS Dividend Fund ("Energy Indexplus") was held today at which over 98% of the unitholders of Energy Indexplus present in person or represented by proxy voted in favour of a resolution authorizing the merger of Energy Indexplus with Middlefield Global Infrastructure Mutual Fund ("Global Infrastructure Fund"), with Global Infrastructure Fund being the continuing fund (the "Merger"). The Merger is expected to take place on June 17, 2015. Completion of the Merger is subject to all regulatory requirements and customary closing conditions being satisfied.
Given the relative illiquidity of Energy Indexplus' units on the TSX, the Merger is expected to benefit Energy Indexplus unitholders by providing them with units of Global Infrastructure Fund, a strong-performing mutual fund that offers daily redemptions at net asset value. The Merger will be effected by a tax-deferred "rollover" using an exchange ratio based on the relative net asset values of Energy Indexplus and Global Infrastructure Fund at the time of the Merger.
Information about Global Infrastructure Fund
Investment Objective - The objective of Global Infrastructure Fund is to maximize long-term total return by investing in a diversified portfolio of companies that own, develop, maintain or are involved in the global infrastructure sector. Investing in global infrastructure securities provides unitholders with exposure to companies with visible and stable cash flows, while providing geographic diversification, transparency and liquidity.
Distribution - Global Infrastructure Fund currently provides its unitholders with a monthly distribution of $0.05/unit (5.2% of Series A net asset value on an annualized basis as at June 8, 2015).
Performance - As at April 30, 2015, Global Infrastructure Fund Series A had one-year and since inception annualized total returns of 7.8% and 15.6%, respectively, assuming the reinvestment of distributions.
Certain statements in this press release may be viewed as forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, intentions, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "plans", "estimates" or "intends" (or negative or grammatical variations thereof), or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Statements which may constitute forward-looking statements relate to: the proposed timing of the merger and expected completion thereof; the expected benefits of the merger; and the funds that are proposed to be merged. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements including as a result of changes in the general economic and political environment, changes in applicable legislation, and the performance of each fund. There are no assurances the funds can fulfill such forward-looking statements and the funds do not undertake any obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing one or more of the funds, some of which are beyond the control of the funds.
SOURCE ENERGY INDEXPLUS Dividend Fund
Renseignements: on Global Infrastructure Fund, including its annual report, which details its investment strategy, 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