Welcome to our dedicated page for abrdn Global Infrastructure Income Fund news (Ticker: ASGI), a resource for investors and traders seeking the latest updates and insights on abrdn Global Infrastructure Income Fund stock.
abrdn Global Infrastructure Income Fund (NYSE: ASGI) is a non-diversified, closed-end management investment company focusing on providing a high level of total return with an emphasis on current income. The Fund achieves this by investing in both public and private infrastructure equity investments globally. These investments are in assets that offer essential services to society, ensuring not just potential returns but also societal impact.
Recently, the Fund has made significant strides with the announcement of a 25% increase in its distribution rate, approval of a monthly managed distribution policy, and the initiation of an open market share repurchase program. The distribution rate has been set at 9% for the 12-month period starting January 2024, providing a steady income stream for investors. This policy is subject to regular review, ensuring it aligns with the Fund's performance and market conditions.
Moreover, the Fund's Board has authorized a share repurchase program, permitting the Fund to buy back up to 10% of its outstanding common stock within any 12-month period. This move aims to enhance market liquidity and potentially reduce the Fund’s discount to NAV.
The Fund distributes monthly income from a mix of net investment income, realized capital gains, and return of capital, leveraging exemptive relief from the U.S. Securities and Exchange Commission. This allows the Fund to offer more frequent long-term capital gains distributions.
With a fiscal year ending on September 30, the Fund provides detailed performance and distribution data, helping shareholders understand the composition and source of their distributions. It's essential to note that actual performance may vary based on market conditions and investment experiences throughout the fiscal year.
The Fund's strategic moves, from increasing distribution rates to initiating share repurchases, aim to deliver steady and sustainable returns while maintaining a focus on essential societal infrastructure. Investors should remain mindful of the inherent risks and consult with their tax advisors regarding the specific implications of these distributions.
For more information, visit abrdn Global Infrastructure Income Fund's official site.
abrdn U.S. Closed-End Funds announced the upcoming completion of reorganizations involving four closed-end investment companies advised by Delaware Management Company. Effective March 13, 2023, the IVH, DEX, DDF, and MGU funds will merge into the ACP, AGD, and ASGI funds. This consolidation aims to enhance economies of scale, liquidity, and marketability, ultimately benefiting shareholders by creating larger, more viable funds. Shareholders of the Acquired Funds will receive new shares of the Acquiring Funds post-reorganization.
abrdn Global Infrastructure Income Fund (NYSE:ASGI) held a special shareholder meeting on December 9, 2022, where shareholders voted to approve the issuance of additional shares as part of the reorganization with Macquarie Global Infrastructure Total Return Fund Inc. (MGU). A significant 82.61% of outstanding shares were voted, with 3,136,748 in favor and 429,816 against the share issuance. Additionally, KPMG LLP was ratified as the Fund's independent accounting firm for the fiscal year ending September 30, 2023, with 6,369,207 votes in favor. The reorganization is expected to complete in Q1 2023, pending customary conditions.
abrdn Global Infrastructure Income Fund (ASGI) and abrdn Asia-Pacific Income Fund (FAX) announced their distributions for shareholders as of November 22, 2022. The distribution per share is $0.1200 for ASGI and $0.0275 for FAX, both paid on November 30, 2022. The distribution is estimated to derive entirely from the net investment income for FAX, while ASGI's distribution is a return of capital. The funds aim to provide stable distributions, supplemented by realized capital gains.
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