A diversified, actively managed portfolio comprised primarily of dividend-paying securities with a focus on the U.S. Core Sectors
CALGARY, Nov. 28, 2013 /CNW/ - Middlefield Group, on behalf of American Core Sectors Dividend Fund (the "Fund"), is pleased to announce that it has filed a final prospectus in relation to an initial public offering of units at a price of $10.00 per unit. The minimum amount of the offering is $25 million and the maximum is $100 million.
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 to the Fund.
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. and Manulife Securities Incorporated.
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.