Clough Global Allocation Fund Increases Quarterly Cash Distribution to $0.28 Per Share
September 29 2009 - 12:13PM
Business Wire
Today, the Clough Global Allocation Fund (NYSE Amex: GLV)
declared an increased quarterly cash distribution of $0.28 per
common share for October 2009. The dividend will be payable on
October 30, 2009 to shareholders of record on October 21, 2009.
Clough Global Allocation Fund Cash Distribution
Ex-Date: October 19, 2009Record Date: October 21, 2009Payable
Date: October 30, 2009
The Fund has approximately $302 million in total assets, the net
asset value was $17.05 per share and the market price was $14.51 as
of September 28, 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, “We are pleased that with the recent
rise in net asset value, we are able to increase distributions
accordingly.”
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 $2.7 billion in assets: $665 million in hedge fund
and institutional accounts; $43 million in open-end mutual funds;
and $2.0 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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