The Board of Trustees of abrdn Global Infrastructure Income Fund (NYSE:ASGI), announces today that shareholders of Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE:MFD) (“MFD” or the “Acquired Fund”), advised by First Trust Advisors L.P., have approved the proposed reorganization into ASGI (“Reorganization”) which is expected to close at the close of business on September 20, 2024, or as soon as practicable thereafter, subject to the satisfaction of customary closing conditions. To facilitate the Reorganization, all shares of MFD are expected to cease trading on the New York Stock Exchange as of the market close on September 20, 2024, and MFD shareholders will be issued newly issued shares of ASGI. The Reorganization will occur based on the relative net asset values of the common shares of MFD. As of August 21, 2024, the combined net assets of ASGI following the Reorganization will be approximately $596 million.
The Reorganization is expected to benefit each fund’s shareholders in a number of important ways, providing greater opportunities to realize economies of scale by combining the funds’ assets resulting in a larger fund. Additionally, the Reorganization is expected to help ensure the viability of the resulting combined fund by increasing scale, liquidity and marketability of the fund.