Mutual funds

MFS Announces Closed-End Fund Distributions

Retrieved on: 
Tuesday, September 1, 2020
Banking, Professional services, Finance, Finance, Money, Investment, Institutional investors, Mutual funds, Form, Financial market, Investment management, Investment funds

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

Retrieved on: 
Monday, August 31, 2020
Professional services, Finance, Finance, Money, Investment, Investment funds, BlackRock, Closed-end fund, Investment management, Institutional investors, Mutual funds, Private equity

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.

Western Asset Middle Market Debt Fund Inc. (XWAMX) Announces Shareholder Approval of New Management and Subadvisory Agreements

Retrieved on: 
Monday, August 31, 2020
Banking, Professional services, Finance, Finance, Investment, Franklin Templeton Investments, Companies, Institutional investors, Mutual funds, Investment management, Virtus Investment Partners, Evergreen Investments

Western Asset Middle Market Debt Fund Inc. (XWAMX or the Fund) announced that, based on certified voting results from the Funds Special Meeting of Shareholders (the Special Meeting), shareholders have voted to approve the new management agreement with the Funds manager and the new subadvisory agreements with the Funds subadvisers.

Key Points: 
  • Western Asset Middle Market Debt Fund Inc. (XWAMX or the Fund) announced that, based on certified voting results from the Funds Special Meeting of Shareholders (the Special Meeting), shareholders have voted to approve the new management agreement with the Funds manager and the new subadvisory agreements with the Funds subadvisers.
  • The Fund's investment manager and the subadvisers continued to provide uninterrupted services with respect to the Fund pursuant to interim management and subadvisory agreements that were approved by the Funds Board of Directors.
  • The new management and subadvisory agreements each became effective upon receipt of requisite approval of the agreements by shareholders of the Fund.
  • As a result of the transaction, Legg Mason Partners Fund Advisor, LLC, the Funds manager, became an indirect, wholly owned subsidiary of Franklin Resources and the Funds subadvisers, Western Asset Management Company, LLC and Western Asset Management Company Limited, became indirect wholly-owned subsidiaries of Franklin Resources.

Statement Pursuant to Section 19(a) of the Investment Company Act of 1940: DEX

Retrieved on: 
Friday, August 28, 2020
Banking, Professional services, Finance, Finance, Money, Investment management, Economy, Financial adviser, Registered Investment Adviser, Institutional investors, Private equity, Mutual funds, Hedge fund, Fund administration, DEX, Macquarie Investment Management

While the NAV performance may be indicative of the Funds investment performance, it does not measure the value of a shareholders investment in the Fund.

Key Points: 
  • While the NAV performance may be indicative of the Funds investment performance, it does not measure the value of a shareholders investment in the Fund.
  • The Fund's primary investment objective is to seek current income, with a secondary objective of capital appreciation.
  • Advisory services are provided by Macquarie Investment Management Business Trust, a registered investment advisor.
  • MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities, unless noted otherwise.

IFIC Monthly Investment Fund Statistics – July 2020

Retrieved on: 
Friday, August 21, 2020
Finance, Money, Institutional investors, Mutual funds, Investment, Investment management, Investment fund, Hedge fund

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 2022 Target Term Fund Declares its Monthly Common Share Distribution of $0.0178 Per Share for September

Retrieved on: 
Thursday, August 20, 2020
Professional services, Finance, Finance, Money, Investment management, Investment, Mutual funds, Institutional investors, Investment funds

First Trust Senior Floating Rate 2022 Target Term Fund (the "Fund") (NYSE: FIV) has declared the Funds regularly scheduled monthly common share distribution in the amount of $0.0178 per share payable on September 15, 2020, to shareholders of record as of September 2, 2020.

Key Points: 
  • First Trust Senior Floating Rate 2022 Target Term Fund (the "Fund") (NYSE: FIV) has declared the Funds regularly scheduled monthly common share distribution in the amount of $0.0178 per share payable on September 15, 2020, to shareholders of record as of September 2, 2020.
  • "Managed Assets" means the total asset value of the Fund minus the sum of its liabilities, other than the principal amount of borrowings.
  • As a result of these actions, investors should anticipate periodic reductions in the Fund's distribution per share going forward.
  • The Fund may not be able to reinvest the proceeds received on terms as favorable as the prepaid loan.

Howard Capital Management's Family of Mutual Funds Receive 5 Stars by Morningstar®

Retrieved on: 
Thursday, August 20, 2020
Finance, Annuities, Money, Actuarial science, Investment, Mutual funds, Institutional investors, Life annuity, Retirement, Exchange-traded fund, Morningstar, Inc.

We are proud the Family of Funds provide a math-based and unemotional strategy to our investors during such a highly emotional time."

Key Points: 
  • We are proud the Family of Funds provide a math-based and unemotional strategy to our investors during such a highly emotional time."
  • "We continue to mathematically watch for buying opportunities but are also prepared to reduce exposure if need be," said Howard.
  • The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history.
  • The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star.

Morningstar's Annual "Mind the Gap" Study Finds U.S. Investor Return Gaps Closing In as Fund Industry Grows in Size and Maturity

Retrieved on: 
Tuesday, August 18, 2020
Finance, Money, Economy, Financial ratios, Institutional investors, Mutual funds, Rate of return, Exchange-traded fund, Investor, Investment

The study estimates the performance of the average dollar invested in mutual funds and exchange-traded funds and compares it to the fund's time-weighted return.

Key Points: 
  • The study estimates the performance of the average dollar invested in mutual funds and exchange-traded funds and compares it to the fund's time-weighted return.
  • We're seeing a maturation of the fund industry as it grows in size and net cash inflows and outflows start carrying less weight."
  • Key highlights from the study include:
    The gap between investor returns and reported total returns is closing in.
  • The study found that in areas with positive investor-return gaps, investors following a systematic investing approach would have fared worse.

First Trust Energy Infrastructure Fund Issues Notice Regarding August 2020 Distribution

Retrieved on: 
Monday, August 17, 2020
Professional services, Finance, Finance, Money, Economy, Institutional investors, Mutual funds, Exchange-traded fund, Rate of return, Registered Investment Adviser, Hedge fund

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.

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

Retrieved on: 
Friday, August 14, 2020
Banking, Professional services, Finance, Franklin Templeton Investments, Government procurement in the United States, Investment, Companies, Finance, SEC filings, Institutional investors, Mutual funds, Subprime mortgage crisis

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.