Mutual funds

Closed-End Funds Advised by Legg Mason Partners Fund Advisor, LLC Announce Election To Opt In to Maryland Control Share Acquisition Act

Friday, August 14, 2020 - 1:00pm

Each of the Funds announced today that it has elected, by resolution unanimously adopted by the board of directors of the Fund, to be subject to the Maryland Control Share Acquisition Act (the MCSAA), effective immediately.

Key Points: 
  • Each of the Funds announced today that it has elected, by resolution unanimously adopted by the board of directors of the Fund, to be subject to the Maryland Control Share Acquisition Act (the MCSAA), effective immediately.
  • The above description of the MCSAA is only a high-level summary and does not purport to be complete.
  • Additional information concerning such risks and uncertainties are contained in each Funds filings with the SEC.
  • Franklin Resources and its affiliates do not engage in selling shares of the Funds.

Prison Free Funds Exposes Investments in Mutual Funds Supporting Prison Industrial Complex

Wednesday, August 12, 2020 - 3:03pm

Prison Free Funds is the latest issue area to join the free, online platform that enables individual and institutional investors to know what they own.

Key Points: 
  • Prison Free Funds is the latest issue area to join the free, online platform that enables individual and institutional investors to know what they own.
  • Prison Free Funds exposes prison industrial complex companies embedded in mutual funds and empowers investors to opt-out of economic systems of oppression and exploitation.
  • By using Prison Free Funds, anyone invested in a mutual fund or ETF is able to harness their economic power to invest with their values and stop profiting from the prison industrial complex.
  • Prison Free Funds is As You Sows seventh Invest Your Values online educational tool, joining Fossil Free Funds , Gender Equality Funds , Deforestation Free Funds , Tobacco Free Funds , Weapon Free Funds , and Gun Free Funds .

Columbia Seligman Premium Technology Growth Fund Announces Third Quarter Distribution: 9.25% Annual Rate for IPO Investors

Friday, August 7, 2020 - 6:38pm

A return of capital distribution does not necessarily reflect the Funds investment performance and should not be confused with yield or income.

Key Points: 
  • A return of capital distribution does not necessarily reflect the Funds investment performance and should not be confused with yield or income.
  • Average annual total return of a share of the Funds common stock at NAV for the period since inception of Fund Investment operations through the period noted includes the 4.50% sales load assessed to IPO investors.
  • Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.
  • The Columbia Seligman Premium Technology Growth Fund is managed by Columbia Management Investment Advisers, LLC.

Angel Oak UltraShort Income Fund Crosses $500 Million in Assets

Wednesday, August 5, 2020 - 4:28pm

Investors should carefully consider the investment objectives, risks, charges and expenses of the Angel Oak Mutual Funds.

Key Points: 
  • Investors should carefully consider the investment objectives, risks, charges and expenses of the Angel Oak Mutual Funds.
  • This and other important information about each Fund is contained in the Prospectus or Summary Prospectus for each Fund, which can be obtained by calling Shareholder Services at 855-751-4324 or by clicking here .
  • Changes in interest rates generally will cause the value of fixed-income instruments held by the Fund to vary inversely to such changes.
  • The Morningstar Ultrashort Bond Category average represents an average of all of the funds in the Morningstar Ultrashort Bond Category.

MFS Announces Closed-End Fund Distributions

Monday, August 3, 2020 - 9:15pm

The Board of the fund may amend the terms of the plan or terminate the plan at any time without prior notice to the fund's shareholders.

Key Points: 
  • The Board of the fund may amend the terms of the plan or terminate the plan at any time without prior notice to the fund's shareholders.
  • The fund will send shareholders a Form 1099-DIV for the calendar year that will tell them how to report these distributions for federal income tax purposes.
  • In addition, in order to make the level of distributions called for under its plan, the fund may have to sell portfolio securities at a less than opportune time.
  • In 1924, MFS launched the first US open-end mutual fund, opening the door to the markets for millions of everyday investors.

Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions

Friday, July 31, 2020 - 10:00pm

No conclusions should be drawn about BKTs investment performance from the amount of the Funds distributions or from the terms of the Funds Plan.

Key Points: 
  • No conclusions should be drawn about BKTs investment performance from the amount of the Funds distributions or from the terms of the Funds Plan.
  • The amount distributed per share under a Plan is subject to change at the discretion of the applicable Funds Board.
  • The amendment or termination of a Plan could have an adverse effect on the market price of the Fund's shares.
  • BlackRock will update performance and certain other data for the Funds on a monthly basis on its website in the Closed-end Funds section of www.blackrock.com as well as certain other material information as necessary from time to time.

IFIC Monthly Investment Fund Statistics – June 2020

Tuesday, July 21, 2020 - 5:11pm

IFIC direct survey data (which accounts for approximately 84% of total mutual fund industry assets) is complemented by data from Investor Economics to provide comprehensive industry totals.

Key Points: 
  • IFIC direct survey data (which accounts for approximately 84% of total mutual fund industry assets) is complemented by data from Investor Economics to provide comprehensive industry totals.
  • * Important Information Regarding Investment Fund Data:
    Mutual fund data is adjusted to remove double counting arising from mutual funds that invest in other mutual funds.
  • The Investment Funds Institute of Canada is the voice of Canadas investment funds industry.
  • IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals.

First Trust Senior Floating Rate Income Fund II Declares its Monthly Common Share Distribution of $0.105 Per Share for August

Monday, July 20, 2020 - 9:25pm

Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in lower grade debt instruments.

Key Points: 
  • Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in lower grade debt instruments.
  • First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor.
  • FTA and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services.
  • FTP is also a distributor of mutual fund shares and exchange-traded fund creation units.

First Trust Energy Infrastructure Fund Issues Notice Regarding July 2020 Distribution

Wednesday, July 15, 2020 - 9:13pm

A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income."

Key Points: 
  • A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income."
  • The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes.
  • First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor.
  • FTP is also a distributor of mutual fund shares and exchange-traded fund creation units.

BVAL Fund Closure

Tuesday, July 14, 2020 - 9:30pm

Exponential ETFs recommended the liquidation and closure of the Fund after consideration of the Funds prospects for growth, among other factors.

Key Points: 
  • Exponential ETFs recommended the liquidation and closure of the Fund after consideration of the Funds prospects for growth, among other factors.
  • Brandometry, the Funds sponsor, determined that fund closure was in the best interest of shareholders given the difficulties of both operating as an independent fund as well as the market conditions resulting from the COVID-19 event.
  • The Fund will begin liquidating its portfolio assets on or about July 17, 2020, which will cause the Fund to increase its cash holdings and deviate from the investment objective and strategies stated in the Funds prospectus.
  • The Fund will conclude operations and distribute the remaining proceeds to shareholders promptly after July 31, 2020.