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On September 15, 2021, Fiduciary/Claymore Energy Infrastructure Fund (FMO) announced its Board of Trustees approved a merger with Kayne Anderson Energy Infrastructure Fund, Inc. (KYN), pending shareholder approval. The merger aims to enhance investment opportunities, improve liquidity, and achieve efficiencies. FMO shareholders will exchange their stock for newly issued KYN shares, maintaining their net asset value (NAV). The anticipated completion is in Q1 2022, subject to regulatory and shareholder approvals.
The Fiduciary/Claymore Energy Infrastructure Fund (FMO) has announced a Shareholder Compensation Program due to adjustments made to its Net Asset Value (NAV) following income tax accruals from sales of master limited partnership investments in 2020. The compensation initiative aims to address potential losses suffered by investors due to the timing of these tax recognitions. GFIA will not incur any costs associated with the program, which is voluntary and not an admission of wrongdoing. Eligibility for compensation will depend on the timing of the investor's shares transactions during the specified period.
Fiduciary/Claymore Energy Infrastructure Fund (FMO) has announced an adjustment to its estimated federal and state income tax expense related to accrued amounts from sales of MLP energy infrastructure investments in early 2020. This adjustment will impact the Fund's net asset value (NAV), which will be finalized following consultations with tax advisers. The Fund's actual tax liability could differ from estimates, and this may result in restated financial statements affecting shareholder distributions. Details will be communicated to shareholders once assessments are complete.
Fiduciary/Claymore Energy Infrastructure Fund (FMO) announced a revised estimate for federal and state income tax accrual due to investment sales, impacting its net asset value (NAV) per share, which is now $6.20. The Fund is subject to a 21% federal income tax rate and various state taxes, with the accrual potentially affecting NAV. It relies on information from master limited partnerships (MLPs) for tax estimates, which may not be timely, adding uncertainty. Final tax information from MLPs is expected by March/April 2021.
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