Clough Global Closed End Funds Boards of Trustees Reauthorize Share Repurchase Programs
December 14 2016 - 9:00AM
Business Wire
The Boards of Trustees (the "Boards") of the below-listed closed
end funds (the “Funds”) advised by Clough Capital Partners L.P.
(the "Advisor"), have previously voted to reinstate the share
repurchase program for the current fiscal year ending October 31,
2017. Under the share repurchase program, each of the Funds may
purchase up to 5% of their outstanding common shares as of December
9, 2016, in the open market, between now and the Funds’ fiscal year
end of October 31, 2017. As part of their ongoing evaluation of
options to enhance shareholder value, the Boards have authorized
the Advisor to have the Funds repurchase their respective shares of
common stock at such times and in such amounts as the Advisor
reasonably believes may enhance shareholder value.
The Funds are as follows:
Clough Global Equity Fund (NYSE MKT:
GLQ)Clough Global Opportunities Fund (NYSE MKT: GLO)Clough Global
Dividend and Income Fund (NYSE MKT: GLV)
The share repurchase programs are the most recent in a series of
actions the Funds have taken to seek to enhance shareholder value.
The Boards will monitor the repurchase programs and will continue
to consider strategic options to enhance shareholder value in the
long term.
The Funds' repurchase programs will be implemented on a
discretionary basis under the direction of the Advisor. The Funds'
repurchase activity, including the number of shares purchased, the
average purchase price and the average discount to net asset value,
will be disclosed in the Funds' annual and semi-annual reports to
shareholders. There is no assurance that the Funds will purchase
shares at any specific discount levels or in any specific
amounts.
Charles I. Clough, Jr., Chairman & CEO of the Advisor,
commented "We are pleased that the Boards have reinstated the share
repurchase program through October 31, 2017 to support the
long-term interests of the Funds' shareholders."
The Clough Global Equity Fund
The Fund is a closed-end fund utilizing the Advisor’s
research-driven, thematic process, with an investment objective of
providing a high level of total return. Having a global, flexible
mandate and exploiting the Firm’s research offices in Boston and
Hong Kong, the Fund will invest at least 80% in equity and
equity-related securities in both U.S. and non-U.S. markets, and
the remainder in fixed income securities, including corporate and
sovereign debt, in both U.S. and non-U.S. markets. More information
on the Clough Global Equity Fund, including the Fund’s dividend
reinvestment plan, can be found at www.cloughglobal.com or call
877-256-8445.
The Clough Global Opportunities Fund
The Fund is a closed-end fund with an investment objective of
providing a high level of total return. The Fund seeks to achieve
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. Utilizing the Advisor’s global research
capabilities, with offices in Boston and Hong Kong, the Clough
Global Opportunities Fund will invest in both U.S. and non-U.S.
markets. More information on the Clough Global Opportunities Fund,
including the Fund’s dividend reinvestment plan, can be found at
www.cloughglobal.com or call 877-256-8445.
The Clough Global Dividend and Income Fund
The Fund is a closed-end fund with an investment objective of
providing a high level of total return. With analysts in Boston and
Hong Kong, the Clough Global Dividend and Income 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 Dividend and Income 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.
The Advisor is a Boston-based investment advisory firm which
manages approximately $2.9 billion in assets: $1.2 billion in hedge
fund and institutional accounts; $102.6 million in open-end mutual
funds; and $1.6 billion in three closed-end funds (as of November
30, 2016) – Clough Global Dividend and Income Fund (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 Funds, 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 Equity 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.
The Clough Global Opportunities 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.
The Clough Global Dividend and Income 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.
ALPS Portfolio Solutions Distributor, Inc FINRA Member
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version on businesswire.com: http://www.businesswire.com/news/home/20161214005273/en/
Clough Capital Partners L.P.Tom Carter, ALPS, +1
303-623-2577tom.carter@alpsinc.comorFund Services Group,
877-256-8445
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