Clough Global Allocation Fund Declares a Quarterly Cash Distribution of $0.26 Per Share
April 06 2009 - 7:31PM
Business Wire
Today, the Clough Global Allocation Fund (NYSE Alternext US:
GLV) declared a quarterly cash distribution of $0.26 per common
share for April 2009. The dividend will be payable on April 30,
2009, to shareholders of record on April 17, 2009.
Clough Global Allocation Fund Cash Distribution
Ex-Date: April 15, 2009Record Date: April 17, 2009Payable Date:
April 30, 2009
The Fund has approximately $231 million in total assets, the net
asset value was $13.91 per share and the market price was $11.30 as
of April 3, 2009. Subject to market conditions, the Fund intends to
distribute subsequent regular quarterly cash distributions.
Chuck Clough, founder of Clough Capital Partners and portfolio
manager for the Fund notes, �The significant weakness in global
financial markets in the second half of 2008 necessitates a
reduction in the distribution to a level that the fund�s Board of
Trustees feels should be sustainable going forward. It continues to
be our intention that the distribution should reflect the changes
in the Fund�s net asset value over time. We believe the Fund�s net
asset value has stabilized over the past few months after seeing
its low to date in November 2008. We are confident that the fund is
in position to capitalize on the investment opportunities that are
becoming available in global markets.�
A portion of the distribution may be treated as paid from
sources other than net income, including but not limited to
short-term capital gain, long-term capital gain and return of
capital. The final determination of the source of all distributions
in 2009, including the percentage of qualified dividend income,
will be made after year-end.
The Clough Global Allocation Fund
The Fund is a closed-end fund with an investment objective of
providing a high level of total return. It intends to achieve this
objective by applying a fundamental research-driven investment
process, investing in equity and equity-related securities, as well
as fixed income securities, including both corporate and sovereign
debt in both U.S. and non-U.S. markets. More information on the
Clough Global Allocation Fund, including the Fund�s dividend
reinvestment plan, can be found at www.cloughglobal.com or call
877-256-8445.
Clough Capital Partners L.P.
Clough is a Boston-based investment advisory firm which manages
approximately $2.0 billion in assets, as of April 3, 2009: $500
million in hedge fund and institutional accounts and $1.5 billion
in three closed-end funds � Clough Global Allocation (GLV), Clough
Global Equity (GLQ) and the Clough Global Opportunities Fund (GLO).
The firm uses a global and theme-based approach and invests in
securities on a global basis. Clough was founded in 2000 by Chuck
Clough and partners James Canty and Eric Brock. These three are the
portfolio managers for the Clough Global Allocation Fund.
An investor should consider investment objectives, risks,
charges and expenses carefully before investing. To obtain a
prospectus which contains this and other information visit
www.cloughglobal.com or call 877-256-8445. Read the prospectus
carefully before investing.
The Clough Global Allocation Fund is a closed-end fund and
closed-end funds do not continuously issue shares for sale as
open-end mutual funds do. Since the initial public offering, the
Fund now trades in the secondary market. Investors wishing to buy
or sell shares need to place orders through an intermediary or
broker. The share price of a closed-end fund is based on the
market's value.
Forward-looking statements are based on information that is
available on the date hereof, and neither the fund manager nor any
other person affiliated with the fund manager has any duty to
update any forward-looking statements. Important factors that could
affect actual results to differ from these statements include,
among other factors, material, negative changes to the asset class
and the actual composition of the portfolio.
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