abrdn Income Credit Strategies Fund (NYSE: ACP) and abrdn Global Infrastructure Income Fund (NYSE: ASGI) have successfully completed the reorganizations of First Trust/abrdn Global Opportunity Income Fund (NYSE: FAM) and Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE: MFD). The reorganizations were finalized after the close of business on September 20, 2024.
As part of the transaction, shareholders of FAM and MFD received common shares of ACP and ASGI, respectively, based on the net asset value (NAV) of their holdings as of September 20, 2024. The conversion ratios were calculated as follows:
- FAM to ACP: Shareholders received 1.014883 ACP shares for each FAM share, with ACP’s NAV at $6.6387 per share.
- MFD to ASGI: Shareholders received 0.437280 ASGI shares for each MFD share, with ASGI’s NAV at $21.1009 per share.
There are no changes to the investment objectives, strategies, structure, or policies of ACP or ASGI following the reorganization.
abrdn, a global asset manager, welcomes First Trust shareholders to its family. abrdn manages over $466.8 billion in assets as of June 30, 2024, serving institutional and retail clients worldwide. More information about abrdn’s open- and closed-end funds can be found at abrdn.com/us.
About First Trust Advisors L.P.
First Trust Advisors L.P. (FTA) served as the investment advisor to the acquired funds. As of June 30, 2024, FTA managed or supervised approximately $228 billion in assets across a range of investment products, including unit investment trusts, ETFs, closed-end funds, mutual funds, and managed accounts. FTA and its affiliate First Trust Portfolios L.P. (FTP) are based in Wheaton, Illinois.
Important Information
This announcement is for informational purposes only and does not constitute an offer or solicitation to buy or sell securities, nor does it solicit any vote or approval in connection with the transaction. Closed-end funds are traded on stock exchanges, and their value can fluctuate. There is no guarantee that an Acquiring Fund will meet its investment objective, and past performance is not indicative of future results.
