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 Global Infrastructure Income Fund (ticker: ASGI) has rescheduled its special meeting of shareholders to December 9, 2022, at 11:00 AM ET. This adjournment aims to gather more proxies to meet quorum requirements and to include a routine proposal for ratifying KPMG LLP as the independent registered public accounting firm for the fiscal year ending September 30, 2023. Shareholders will receive supplemental proxy materials for further details. The updated proxy statement is also available on the SEC website.
abrdn U.S. Closed-End Funds held their Annual Meeting of Shareholders on May 26, 2022, where key proposals were voted on for The India Fund, Inc. (IFN) and Aberdeen Standard Global Infrastructure Income Fund (ASGI). IFN had 67.77% of its shares voted, resulting in successful elections for two Class III Directors, Hugh Young and Nancy Yao Maasbach. ASGI reported 79.68% of shares voted, leading to the election of Class II Trustees P. Gerald Malone and Todd Reit. These meetings reflect shareholder engagement in governance and strategic direction.
Aberdeen Standard Global Infrastructure Income Fund (ASGI) will host an infrastructure panel forum on May 19, 2022, addressing macroeconomic challenges impacting infrastructure investments, including the war in Ukraine and inflation. Panelists will include experts from abrdn, who will discuss potential risks and new opportunities within the sector. Following the discussion, ASGI will provide an update on the Fund's holdings and highlight an increased monthly distribution expected to persist for the upcoming year. The event is intended for professional and institutional investors.
Aberdeen Standard Global Infrastructure Income Fund (ASGI) has announced an increase in its monthly distribution from $0.1083 to $0.12 per share, effective April 29, 2022. The Board of Trustees cited the Fund's strong performance since inception, with a cumulative total return of 27.31% for NAV as of March 31, 2022. The updated distribution rate aims to last at least 12 months unless market conditions change significantly. The Fund emphasizes current income through public and private infrastructure equity investments, with distributions sourced from net investment income and capital gains.
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