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 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.
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 prospectus.
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.