PHILADELPHIA CREAM–(BUSINESS WIRE)–Today, Delaware Investments Dividend and Income Fund, Inc. (the “Acquired Fund”), a closed-end fund listed on the New York Stock Exchange and trading under the symbol “DDF”, announced that its board Board of Directors (the “Acquired Fund”) Board”) has approved the reorganization of the Acquired Fund as abrdn Global Dynamic Dividend Fund (the “Acquiring Fund”), a closed-end fund listed on the New York Stock Exchange and trading under symbol “AGD” (the “Reorganization”).
It is currently expected that the reorganization will be completed in the first quarter of 2023 subject to (i) the approval of the reorganization by the shareholders of the acquired fund, (ii) the approval by the shareholders of the acquiring fund of the issuance of shares of the acquiring fund, and (iii) the satisfaction of customary closing conditions.
Delaware Management Company, a series of Macquarie Investment Management Business Trust, is the investment manager of the acquired fund. Macquarie Investment Management Austria Kapitalanlage AG is the sub-advisor to the acquired fund and provides asset allocation services to the acquired fund. Aberdeen Asset Managers Limited is the investment adviser to the Acquiring Fund.
This press release is not intended to, and does not constitute, an offer to buy or sell shares of the Acquiring Fund or the Acquiring Fund, nor is this press release intended to solicit a proxy. a shareholder of one of the Acquired Funds or the Acquiring Fund. The solicitation to buy or sell securities or proxies to effect the Reorganization will only be made by a definitive proxy statement/prospectus of the Acquiring Fund and the Acquiring Fund and a definitive proxy statement of the Acquiring Fund.
The proxy statement/prospectus and proxy statement have not yet been filed with the United States Securities and Exchange Commission (the “SEC”). After the proxy statement/prospectus and proxy statement are filed with the SEC, each may be amended or withdrawn. The proxy statement/prospectus will not be distributed to shareholders of the acquired fund until a registration statement including the proxy statement/prospectus has been declared effective by the SEC.
SHAREHOLDERS OF THE ACQUIRED FUND ARE ADVISED TO READ THE PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE REORGANIZATION. SHAREHOLDERS SHOULD CONSIDER THE INVESTMENT OBJECTIVES, RISKS, COSTS AND EXPENSES OF THE ACQUIRED FUND AND THE ACQUIRING FUND. THE INFORMATION STATEMENT/PROSPECTUS CONTAINS INFORMATION REGARDING THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE ACQUIRED FUND AND THE ACQUIRING FUND.
The proxy statement/prospectus will not constitute an offer to buy or sell securities, in any state where such offer or sale is not authorized.
Shareholders of the acquired fund may obtain free copies (when available) of the proxy statement/prospectus and other documents filed with the SEC at the SEC’s website at www.sec .gov. In addition, free copies (when available) of the proxy statement/prospectus and other documents filed with the SEC may also be obtained by directing a request to the acquired fund at (866) 437-0252 or by visiting his website at delawarefunds. com/closed.
About the Acquired Fund
The Fund is a diversified closed-end fund. The primary investment objective is to seek high current income; capital appreciation is a secondary objective. The Fund seeks to achieve its objectives by investing, under normal circumstances, at least 65% of its total assets in income-producing equity securities, including dividend-paying common stocks, convertible securities, preferred stocks and shares. other equity-related securities, which may include up to 25% in real estate investment trusts (REITs) and real estate operating companies. Up to 35% of the Fund’s total assets may be invested in non-convertible debt securities consisting primarily of high yield, high risk corporate bonds. In addition, the Fund uses leverage techniques in an attempt to obtain a higher return for the Fund. There can be no assurance that the Fund will achieve its investment objectives.
About Macquarie Asset Management
Macquarie Asset Management is a global asset manager that aims to deliver positive impact to everyone. Recognized by institutions, pension funds, governments and individuals for managing over $579 billion in assets worldwide,1 we provide access to specialist investment expertise across a range of capabilities, including infrastructure, green investments and renewable energy, real estate, agriculture and natural assets, asset finance, private credit, equities, fixed income and multi-asset solutions.
Advisory services are provided by Delaware Management Company, a series of Macquarie Investment Management Business Trust, a registered investment adviser. Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, financing, banking, advisory and risk and capital solutions for debt, equities and commodities. Founded in 1969, Macquarie Group employs over 18,000 people in 33 markets and is listed on the Australian Securities Exchange. For more information on Macquarie’s Delaware Funds®visit delawarefunds.com or call 800 523-1918.
With the exception of Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any entity of the Macquarie group mentioned in this press release is not an authorized depository institution for the purposes of the Banking Act 1959 (Commonwealth from Australia). The obligations of these other Macquarie group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or provide any other assurance with respect to the obligations of such other Macquarie group entities. In addition, if this press release relates to an investment, (a) the investor is subject to investment risk, including delays in repayment and loss of income and invested capital and (b) none of Macquarie Bank or any other entity of the Macquarie group does not guarantee any particular rate of return on or performance of the investment, nor guarantee the return of capital in respect of the investment.
1 As of March 31, 2022
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