Latest news with #Funds'
Business Wire
13-05-2025
- Business
- Business Wire
U.S. Court of Appeals for the First Circuit Affirms District Court Order to Seat Ocean Capital's Duly Elected Nominees at Three UBS Puerto Rico Closed-End Funds
SAN JUAN, Puerto Rico--(BUSINESS WIRE)--Ocean Capital LLC (collectively with its affiliates, 'Ocean Capital' or 'we'), a significant shareholder of various Puerto Rico closed-end bond funds (the 'Funds') that are managed or co-managed by UBS Asset Managers of Puerto Rico ('UBS'), today commented on the outcome of the appeal brought in the United States Court of Appeals for the First Circuit (the 'Appellate Court') by nine Funds. 1 The Appellate Court agreed with the July 2024 ruling from the U.S. District Court for the District of Puerto Rico that (1) dismissed the Funds' asserted claims that Ocean Capital had violated the federal securities laws, and (2) directed that PRITF I, PRITF VI and TFF I seat the Ocean Capital-nominated directors immediately. W. Heath Hawk, managing member of Ocean Capital, commented: 'We are hopeful that the Court's conclusion that the Funds' baseless claims against Ocean Capital should be dismissed and affirmation that the Funds must seat Ocean Capital's duly elected nominees at PRITF I, PRITF VI and TFF I will finally put an end to these Funds' entrenchment tactics that have allowed them to evade the will of shareholders for years. We view today's ruling as a decisive victory given Ocean Capital has spent the past four years running campaigns for shareholder-driven change at the Funds and has now received overwhelming support for its nominees and proposals at 12 annual meetings. We will continue to fight on behalf of all our fellow shareholders who have continually voted for change over the past four years across these nine Funds.' *** VOTE 'FOR' OCEAN CAPITAL'S HIGHLY QUALIFIED DIRECTOR CANDIDATES ON THE BLUE PROXY CARD TODAY. IF YOU ARE A FUND ADVISOR WITH CLIENTS WHO WISH TO EXERCISE THEIR RIGHT FOR CHANGE BY VOTING THE BLUE PROXY CARD, PLEASE CONTACT OUR PROXY SOLICITOR, SODALI & CO, AT (203) 658-9400 OR (800) 662-5200, OR VIA E-MAIL AT OCEAN@ VISIT TO LEARN MORE ABOUT OCEAN CAPITAL'S CAMPAIGNS FOR VALUE-ENHANCING CHANGE AT THE FUNDS. *** To the Shareholders of Fund I, Fund II (with respect to both its 2022 Annual Meeting and its 2024 Annual Meeting), Fund III, Fund IV, Fund V, PRITF IV (with respect to both its 2021 Annual Meeting and 2024 Annual Meeting) and TFF I: Ocean Capital and the other participants in each solicitation (collectively, the 'Participants') have filed with the Securities and Exchange Commission (the 'SEC') a definitive proxy statement and accompanying form of BLUE proxy card to be used in connection with the solicitation of proxies from the shareholders of each listed Fund for its respective upcoming annual meeting(s) of shareholders. All shareholders of each respective Fund are advised to read the definitive proxy statement, any amendments or supplements thereto and other documents related to the applicable solicitation of proxies by the Participants, as they contain important information, including additional information relating to the Participants and their direct or indirect interests, by security holdings or otherwise. Shareholders can obtain the applicable definitive proxy statement and accompanying BLUE proxy card, any amendments or supplements to the definitive proxy statement and other relevant documents filed by the Participants with the SEC at no charge on the SEC's website at
Associated Press
30-04-2025
- Business
- Associated Press
Aberdeen Investments U.S. Closed-End Funds Announce Distribution Payment Details
PHILADELPHIA, PA / ACCESS Newswire / April 30, 2025 / The Aberdeen Investments U.S. Closed-End Funds (NYSE:ASGI, THQ) (the 'Funds' or individually the 'Fund'), today announced that the Funds paid the distributions noted in the table below on April 30, 2025, on a per share basis to all shareholders of record as of April 23, 2025 (ex-dividend date April 23, 2025). Each Fund has adopted a distribution policy to provide investors with a stable distribution out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital. Under applicable U.S. tax rules, the amount and character of distributable income for each Fund's fiscal year can be finally determined only as of the end of the Fund's fiscal year. However, under Section 19 of the Investment Company Act of 1940, as amended (the '1940 Act') and related rules, the Funds may be required to indicate to shareholders the estimated source of certain distributions to shareholders. The following tables set forth the estimated amounts of the sources of the distributions for purposes of Section 19 of the 1940 Act and the rules adopted thereunder. The tables have been computed based on generally accepted accounting principles. The tables include estimated amounts and percentages for the current distributions paid this month as well as for the cumulative distributions paid relating to fiscal year to date, from the following sources: net investment income; net realized short-term capital gains; net realized long-term capital gains; and return of capital. The estimated compositions of the distributions may vary because the estimated composition may be impacted by future income, expenses and realized gains and losses on securities and currencies. The Funds' estimated sources of the current distribution paid this month and for its current fiscal year to date are as follows: * ASGI and THQ have a 9/30 fiscal year end. **includes currency gains Where the estimated amounts above show a portion of the distribution to be a 'Return of Capital,' it means that Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur for example, when some or all the money that you invested in a Fund is paid back to you. 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. The final determination of the source of all distributions for the current year will only be made after year-end. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of the fiscal year and may be subject to change based on tax regulations. After the end of each calendar year, a Form 1099-DIV will be sent to shareholders for the prior calendar year that will tell you how to report these distributions for federal income tax purposes. The following tables provide the Funds' total return performance based on net asset value (NAV) over various time periods compared to the Funds' annualized and cumulative distribution rates. 1 Return data is net of all Fund expenses and fees and assumes the reinvestment of all distributions reinvested at prices obtained under the Fund's dividend reinvestment plan. 2 Based on the Fund's NAV as of March 31, 2025. 3 The Fund launched within the past 5 years; the performance and distribution rate information presented reflects data from inception (July 29, 2020) through March 31, 2025. Shareholders should not draw any conclusions about a Fund's investment performance from the amount of the Fund's current distributions or from the terms of the distribution policy (the 'Distribution Policy'). While 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. Pursuant to an exemptive order granted by the Securities and Exchange Commission, the Funds may distribute any long-term capital gains more frequently than the limits provided in Section 19(b) under the 1940 Act and Rule 19b-1 thereunder. Therefore, distributions paid by the Funds during the year may include net income, short-term capital gains, long-term capital gains and/or a return of capital. Net income dividends and short-term capital gain dividends, while generally taxable at ordinary income rates, may be eligible, to the extent of qualified dividend income earned by the Funds, to be taxed at a lower rate not to exceed the maximum rate applicable to your long-term capital gains. Distributions made in any calendar year in excess of investment company taxable income and net capital gain are treated as taxable ordinary dividends to the extent of undistributed earnings and profits, and then as a return of capital that reduces the adjusted basis in the shares held. To the extent return of capital distributions exceed the adjusted basis in the shares held, capital gain is recognized with a holding period based on the period the shares have been held at the date such amount is received. The payment of 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 expense ratio 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 distribution. Each Fund's Board 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. Circular 230 disclosure: To ensure compliance with requirements imposed by the U.S. Treasury, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. In the United States, Aberdeen Investments is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited. Closed-end funds are traded on the secondary market through one of the stock exchanges. A Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that a Fund will achieve its investment objective. Past performance does not guarantee future results. Closed end funds | Aberdeen ### For More Information Contact: Aberdeen Investments U.S. Closed-End Funds Investor Relations 1-800-522-5465 [email protected] SOURCE: Aberdeen Investments U.S. Closed-End Funds press release
Express Tribune
18-04-2025
- Entertainment
- Express Tribune
Davido drops 5ive album featuring Chris Brown, Becky G, Victoria Monét and more global collaborators
Davido has released his fifth studio album, 5ive, via Davido Music Worldwide, RCA Records, and Sony Music UK. The 17-track project, out April 18, features global collaborations and marks a major milestone for the Afrobeats star. The album includes previously released singles like 'Awuke' featuring YG Marley, 'Funds' with Odumodublvck and Chike, and 'Be There Still.' Collaborators on other tracks include Victoria Monét ('Offa Me'), Becky G ('Tek'), Chris Brown ('Titanium'), and Shenseea and 450 ('R&B'). Additional appearances come from Musa Keys, Victony, Tayc, Dadju, and Omah Lay. In a statement, Davido described the album as deeply personal and reflective of his artistic evolution. 'This 5ive album? Man, it means everything to me. It's more than just a number — it's a statement of where I stand, five albums in,' he said. 'Getting to work with artists that I love and respect from all over the world on this project was a blessing. Different sounds, different cultures, but one vibe! This one right here shows my growth, my journey and where I am now in my life and my artistry.' The release follows Davido's 2023 album Timeless, which peaked at No. 2 on Billboard's World Albums chart and No. 37 on the Billboard 200. That project earned a Grammy nomination for best global music album, while its single 'Unavailable' featuring Musa Keys hit No. 3 on the U.S. Afrobeats Songs chart. Davido received another nomination this year for 'Sensational' with Chris Brown and Lojay, which marked both artists' Billboard Hot 100 debuts.
Associated Press
25-03-2025
- Business
- Associated Press
Pioneer Closed-End Funds Announce Postponement of March 26, 2025 Special Meeting of Stockholders
Each of the Funds listed above announced today that the Special Meeting of Stockholders (the 'Meeting') originally scheduled for Wednesday, March 26, 2025 at 12:00 p.m. Eastern Time has been postponed in order to give shareholders more time to vote. The Funds will announce the rescheduled Meeting date, time and location in due course. As described in the proxy materials for the Meeting previously distributed, the Board of Directors of each Fund has fixed the close of business on February 4, 2025 as the record date for the determination of stockholders of the Fund entitled to notice of and to vote at the Meeting and any adjournment or postponement thereof. Stockholders are not required to attend the Meeting to vote on the proposal. Whether or not stockholders plan to attend the Meeting, each Fund urges stockholders to authorize a proxy to vote the stockholder's shares in advance of the Meeting on the WHITE proxy card included with the proxy materials for the Meeting. In connection with the Meeting, each Fund has filed a definitive proxy statement with the Securities and Exchange Commission (the 'SEC'). Stockholders are advised to read their Fund's proxy statement because it contains important information. The proxy statement is available on the internet at The WHITE proxy card included with the proxy materials previously distributed will not be updated to reflect the change in date and may continue to be used to vote your shares in connection with the Meeting. The proxy statement and other documents filed by a Fund are also available for free on the SEC website, This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on such Fund's current plans and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Additional information concerning such risks and uncertainties are contained in the Fund's filings with the SEC. An investment in a Fund involves risk, including loss of principal, investment return and the value of shares will fluctuate. Any data and commentary provided in this press release are for informational purposes only. For questions about the proposal or assistance in voting your shares, please call the Funds at 1-800-488-8095. For more information about the Funds, please consult the Funds' website at www. The information contained on the Funds' website is not part of this press release. Hard copies of each Fund's complete audited financial statements are available free of charge upon request. SOURCE: Amundi Asset Management US, Inc. Copyright Business Wire 2025. PUB: 03/25/2025 04:48 PM/DISC: 03/25/2025 04:48 PM
