Clough Global Allocation Fund Declares Final Quarterly Cash Distribution of $0.30 Per Share before Moving to New Monthly Dist...
December 19 2013 - 2:23PM
Business Wire
In addition to the new monthly distributions declared on
December 12, 2013, the Board of Trustees for the Clough Global
Allocation Fund (NYSE MKT: GLV) declared a final quarterly cash
distribution of $0.30 per common share for January 2014. The
dividend will be payable on January 15, 2014 to shareholders of
record on January 9, 2014.
Clough Global Allocation Fund Quarterly Cash Distribution
Ex-Date: January 7, 2014Record Date: January 9, 2014Payable
Date: January 15, 2014
The Fund has approximately $335 million in total assets, the net
asset value was $17.78 per share and the market price was $15.06 as
of December 18, 2013.
As previously announced, starting in January, the Fund intends
to distribute regular monthly cash distributions. On December 12,
2013, the Board of Trustees for the Clough Global Allocation Fund
(NYSE MKT: GLV) approved a change from quarterly to monthly cash
distributions and has declared a monthly distribution of $0.105 per
common share, payable on the dates noted below.
The following dates apply to the monthly distributions
declared:
Ex-Date: January 15, 2014Record Date: January 17, 2014Payable
Date: January 31, 2014
Ex-Date: February 12, 2014Record Date: February 14, 2014Payable
Date: February 28, 2014
Ex-Date: March 14, 2014Record Date: March 18, 2014Payable Date:
March 31, 2014
Charles I. Clough, Jr., CFA, Chairman & CEO, Clough Capital
Partners, LP commented, “We are pleased with the Fund’s performance
in 2013. We believe that the new monthly distribution policy will
be beneficial to our shareholders and we appreciate their continued
support.” Going forward, the Board of Trustees intends to announce
three monthly distributions at a time so investors have greater
transparency into the distribution amounts and payment
schedules.
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 2014, 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 searching globally for the most
opportunistic investments in the capital markets, with an
investment objective of providing a high level of total return.
With Analysts in Boston and Hong Kong, the Clough Global Allocation
Fund seeks to pursue this objective by applying a fundamental
research-driven investment process and will invest 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 $4.5 billion in assets: $2.0 billion in hedge fund
and institutional accounts; $96 million in open-end mutual funds;
and $2.4 billion in three closed-end funds (as of November 30,
2013) – 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, as well as Robert
Zdunczyk.
An investor should consider investment objectives, risks,
charges and expenses carefully before investing. To obtain a
prospectus, annual report or semi-annual report which contains this
and other information visit www.cloughglobal.com or
call 877-256-8445. Read them 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.
Clough Capital Partners, LPTom Carter,
1-303-623-2577tom.carter@alpsinc.comorFund Services Group,
877-256-8445
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