Macquarie Global Infrastructure Total Return Fund: Statement Pursuant to Section 19(a) of the Investment Company Act of 1940
December 31 2014 - 10:25AM
Business Wire
On December 31, 2014, the Macquarie Global Infrastructure Total
Return Fund (NYSE: MGU) (the “Fund”), a closed-end fund, paid a
quarterly distribution on its common stock of $0.3500 per share to
shareholders of record at the close of business on December 23,
2014.
The following table sets forth the estimated amount of the
sources of distribution for purposes of Section 19 of the
Investment Company Act of 1940, as amended, and the related rules
adopted thereunder. The Fund estimates the following percentages,
of the total distribution amount per share, attributable to (i)
current and prior fiscal year net investment income, (ii) net
realized short-term capital gain, (iii) net realized long-term
capital gain and (iv) return of capital or other capital source as
a percentage of the total distribution amount. These percentages
are disclosed for the current distribution as well as the fiscal
year-to-date cumulative distribution amount per share for the
Fund.
Current
Distribution from: Per Share
($)
%
Net Investment Income 0.0053 1.51% Net Realized Short-Term Capital
Gain 0.0293 8.37% Net Realized Long-Term Capital Gain 0.3154 90.12%
Return of Capital or other Capital Source
0.0000
0.00%
Total (per common share) 0.3500 100.00%
Fiscal
Year-to-Date Cumulative Distributions from: Per
Share ($)
%
Net Investment Income 0.0053 1.51% Net Realized Short-Term Capital
Gain 0.0293 8.37% Net Realized Long-Term Capital Gain 0.3154 90.12%
Return of Capital or other Capital Source
0.0000
0.00%
Total (per common share) 0.3500 100.00%
The amounts and sources of distributions reported in this
19(a) Notice are only estimates and not for tax reporting
purposes. The actual amounts and sources of the amounts for
tax reporting purposes will depend upon the Fund’s investment
experience during the remainder of its fiscal year and may be
subject to changes based on tax regulations. The Fund will send you
a Form 1099-DIV for the calendar year that will tell you how to
report these distributions for federal income tax purposes.
Presented below are return figures, based on the change in the
Fund’s Net Asset Value per share (“NAV”), compared to the
annualized distribution rate for this current distribution as a
percentage of the NAV on the last business day of the month prior
to distribution record date.
Fund Performance & Distribution
Information
Fiscal Year to Date (12/01/2013 through 11/28/2014)
Annualized Distribution Rate as a Percentage of NAV^ 4.90%
Cumulative Distribution Rate on NAV^ 1.22% Cumulative Total
Return on NAV* 21.24% Average Annual
Total Return on NAV for the 5 Year Period Ending 11/28/2014**
15.47%
^ Based on the Fund’s NAV as of November 28, 2014.
*Cumulative fiscal year-to-date return is based on the change in
NAV including distributions paid and assuming reinvestment of these
distributions for the period December 1, 2013 through November 28,
2014.
**The 5 year average annual total return is based on change in
NAV including distributions paid and assuming reinvestment of these
distributions and is through the last business day of the month
prior to the month of the current distribution record date.
The payment of dividend distributions in accordance with the
distribution policy may result in a decrease in the Fund’s net
assets. A decrease in the Fund’s net assets may cause an increase
in the Fund’s annual operating expenses and a decrease in the
Fund’s market price per share to the extent the market price
correlates closely to the Fund’s net asset value per share. The
distribution policy may also negatively affect the Fund’s
investment activities to the extent that the Fund is required to
hold larger cash positions than it typically would hold or to the
extent that the Fund must liquidate securities that it would not
have sold, for the purpose of paying the dividend distribution. The
distribution policy may, under certain circumstances, cause the
amounts of taxable distributions to exceed the amount minimally
required to be distributed under the tax rules, such excess will be
taxable as ordinary income to the extent loss carry forwards reduce
the required amount of capital gains distributions in that year.
The Board of Directors has the right to amend, suspend or terminate
the distribution policy at any time. The amendment, suspension or
termination of the distribution policy may affect the Fund’s market
price per share. Investors should consult their tax advisor
regarding federal, state, and local tax considerations that may be
applicable in their particular circumstances.
While the NAV performance may be indicative of the Fund’s
investment performance, it does not measure the value of a
shareholder’s investment in the Fund. The value of a shareholder’s
investment in the Fund is determined by the Fund’s market price,
which is based on the supply and demand for the Fund’s shares in
the open market. Shareholders should not draw any conclusions
about the Fund’s investment performance from the amount of this
distribution or from the terms of the Fund’s Managed Distribution
Plan.
Furthermore, the Board of Directors reviews the amount of any
potential distribution and the income, capital gain or capital
available. The Board of Directors will continue to monitor the
Fund’s distribution level, taking into consideration the Fund’s net
asset value and the financial market environment. The Fund’s
distribution policy is subject to modification by the Board of
Directors at any time. The distribution rate should not be
considered the dividend yield or total return on an investment in
the Fund.
The Fund is not intended to be a complete investment program. An
investment in the Fund involves risks, and the Fund may or may not
be able to achieve its investment objective for a variety of
reasons. The following summarizes some of the Fund’s risks but does
not purport to be a complete listing of all of the risks. Investors
should carefully review the Fund’s Prospectus and consult their own
advisers.
Adviser Risk. MCIML, the Fund’s adviser, is an investment
adviser with limited investment history or track record. The Fund
is further dependent on Co-Portfolio Managers Jonathon Ong and Brad
Frishberg. There is no guarantee an adequate replacement could be
found for MCIML should Co-Portfolio Managers Jonathon Ong’s and/or
Brad Frishberg’s services no longer be available. The Fund is also
subject to risk because it is an actively managed portfolio.
Industry Concentration and Infrastructure Industry Risk. The Fund
will be concentrated in the infrastructure industry, and will be
more susceptible to adverse economic or regulatory occurrences
affecting that industry than a fund that is not concentrated in a
specific industry. Non-U.S. Investment Risk. A majority of the
Fund’s investments will be in non-U.S. issuers and a substantial
portion of the trades executed for the Fund will take place on
foreign exchanges. Investments in securities and instruments of
non-U.S. issuers involve certain considerations and risks not
ordinarily associated with investments in those of U.S. issuers.
Emerging Markets Risk. In addition to non-US investment risk,
investments in emerging markets may expose the fund to heightened
risks that may be more volatile than investments in developed
markets. Use of Derivatives and Hedging. The Fund may use
derivatives and employ a variety of hedging techniques. Derivatives
can be illiquid, may disproportionately increase losses and may
have a potentially large impact on the Fund’s performance. Certain
of the investment techniques that the Fund may employ for hedging
or to increase income or total return will expose the Fund to
additional risks. Leverage Risk. The Fund expects to employ
leverage as part of its investing strategy. The use of leverage
will increase the volatility of the Fund and increase risk to
investors. Any difficulty in maintaining the Fund’s leverage could
cause a diversion of cash flow and/or require liquidation of some
portion of the Fund’s portfolio. Restrictions imposed as a result
of any leverage may directly or indirectly inhibit the Fund’s
ability to take actions that otherwise may be taken in an
unleveraged portfolio of similar assets.
MAC000124 1/30/2015.
Investor/Broker
Inquiries1-800-910-1434macquarie@alpsinc.comwww.macquarie.com/mguorMedia
InquiriesMacquarie GroupPaula Chirhart, 212-231-1310Corporate
Communications
Macquarie Global Infrast... (NYSE:MGU)
Historical Stock Chart
From Mar 2024 to Apr 2024
Macquarie Global Infrast... (NYSE:MGU)
Historical Stock Chart
From Apr 2023 to Apr 2024