Miller/Howard High Income Fund: Key Liquidation Insights
Miller/Howard High Income Fund Announces Liquidation Timeline
The Miller/Howard High Income Equity Fund (NYSE: HIE) has made a significant announcement regarding its upcoming liquidation. As part of its operational framework, the Fund is preparing to conclude its activities around a noted date, specifically on or about November 22, 2024. This date represents the final business engagement before the formally noted Termination Date, which is established on November 24, 2024.
Liquidation and Distribution Plans
In alignment with the information provided in the Fund’s prospectus from February 2020, it is outlined that the Fund operates on a ten-year timeline that is approaching its end. The expectant conclusion aligns with the termination framework unless there is an inclination from shareholders to extend this term or a directive from the Fund’s Board of Trustees permits a further year of operation. Consequently, there is anticipation of a liquidating distribution to commence around the Termination Date.
Trading Details Before Termination
As the Fund nears this important termination phase, shareholders should be aware that common shares will remain available for trading on the New York Stock Exchange until November 20, 2024. Following this date, trading will cease after market hours, requiring shareholders to plan accordingly. In this transition period leading up to the termination, adjustments might be observed in the Fund’s investment approach. This could include a potential movement towards cash or cash equivalents as deemed suitable by the investment team.
Adjustments to Distributions
It is important to note that there will be deviations from the standard distributions during this liquidating phase. Specifically, the Fund will not issue its regular monthly distribution for November 2024. Instead, liquidation proceeds will be allocated to shareholders promptly post-liquidation, ensuring smooth transitions during this pivotal time.
Understanding the Fund's Focus
The Miller/Howard High Income Equity Fund is designed with a dual focus: seeking high current income while also aiming for long-term capital appreciation. This is achieved through strategic investments in high-yielding equities across various sectors and industries. The investment philosophy steers towards companies that exhibit high current yields, have promising dividend growth trajectories, and demonstrate robust financial health.
The Management Behind the Fund
Management of the Miller/Howard High Income Fund falls under the expertise of Miller/Howard Investments Inc., an established firm in Kingston. With over three decades of experience managing assets totaling approximately $3.4 billion, the firm exemplifies stability and strength in investment strategies. They maintain a concentrated focus on equities that promise high yield and demonstrate potential for dividend growth. Through consistent application of these strategies, they enable investors to access opportunities for capital appreciation and current income.
Contacting for More Information
For inquiries and support regarding shareholder services, stakeholders are encouraged to connect through Equiniti Trust Company, LLC at 1-800-937-5449. This channel provides assistance and the information necessary to navigate through these changes.
Frequently Asked Questions
What is the Termination Date for the Fund?
The Termination Date for the Miller/Howard High Income Equity Fund is set for November 24, 2024.
Will there be any regular monthly distributions in November?
No regular monthly distribution will be declared in November 2024; instead, shareholders will receive liquidation proceeds.
How can I trade my shares before the termination?
Common shares will be tradable on the New York Stock Exchange until November 20, 2024, after which trading will be suspended.
What type of investments does the Fund focus on?
The Fund invests in high-yielding equities, prioritizing those with strong potential for dividend growth and financial stability.
Who manages the Miller/Howard High Income Fund?
The Fund is managed by Miller/Howard Investments Inc., leveraging their extensive experience in the investment sector.
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