Successful Reorganization of First Trust Funds with abrdn
Understanding the Recent Reorganizations by abrdn
Recently, two prominent funds managed by abrdn reached a significant milestone. The abrdn Income Credit Strategies Fund (NYSE: ACP) and abrdn Global Infrastructure Income Fund (NYSE: ASGI) successfully completed their reorganizations with First Trust advised funds. This event, finalized at the close of regular business, marks a pivotal shift for investors and shareholders involved with those funds.
Details of the Reorganization
As part of this restructuring, shareholders from the First Trust/abrdn Global Opportunity Income Fund (NYSE: FAM) and the Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE: MFD) transitioned into their respective new funds. Each investor received shares in the Acquiring Funds valued at an amount corresponding to the total value of their investments in the previous funds.
Key Highlights
In terms of specifics regarding the reorganization:
- The Acquiring Fund, ACP, had a net asset value (NAV) per share of 6.6387.
- The Conversion Ratio for ACP stands at 1.014883, ensuring fair value for investors.
- For ASGI, the NAV per share was recorded at 21.1009, with a Conversion Ratio of 0.437280.
These details provide clarity around the ongoing value and benefits provided to shareholders during this transition.
Future Directions for Investors
abrdn is eager to welcome First Trust shareholders into its fund portfolio. Recognized globally as a leading asset manager, abrdn emphasizes its commitment to delivering long-term value for clients. With approximately $466.8 billion managed on behalf of various clients worldwide as of mid-2024, the company's robust international presence ensures a solid foundation for investment performance and client relations.
Vast Management Portfolio
The firm oversees a diverse range of investment solutions across different sectors, ensuring flexibility and responsiveness to market changes. Clients can access both open-end and closed-end mutual funds, which are expertly managed to adapt to evolving market conditions.
Commitment to Shareholder Expectations
abrdn's investment strategy remains steadfast, with no anticipated changes to the investment objective, structure, or policies of the Acquiring Funds. This consistency is designed to reassure investors that their interests remain a top priority during this reorganization process.
Important Disclosures
While abrdn expands its offerings, it maintains transparency through rigorous compliance with investment regulations. The reorganization does not imply any sale or solicitation of securities. Past performance of these funds should not be seen as a guarantee of future results.
Frequently Asked Questions
What funds were reorganized with abrdn?
The reorganizations involved the abrdn Income Credit Strategies Fund and the abrdn Global Infrastructure Income Fund with First Trust advised funds.
How are shareholders affected by the reorganization?
Shareholders of the Acquired Funds received shares in the new Acquiring Funds based on the net asset value of their previous investments.
Will there be changes to the investment strategy?
No, there are no planned changes to the investment objective or strategies of the Acquiring Funds.
How does abrdn ensure value creation for clients?
abrdn focuses on long-term value creation by managing a globally diversified portfolio to meet the needs of its clients.
Where can I find more information on abrdn's offerings?
Investors can learn more about abrdn's funds and services by visiting the abrdn website dedicated to client resources.
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