American Stock Exchange Launches Clough Global Opportunities Fund By Clough Capital Partners L.P. And Alps Mutual Funds Service
April 26 2006 - 11:44AM
PR Newswire (US)
Clough Capital Partners L.P. With Alps Mutual Funds Services, Inc.
Launches Third Closed-End Fund On The Amex NEW YORK, April 26
/PRNewswire/ -- The American Stock Exchange(R) (Amex(R)) announced
today that it has launched trading in the Clough Global
Opportunities Fund under the trading symbol GLO. This is the third
closed-end fund listed on the Amex by Clough Capital Partners L.P.
and ALPS. The Clough Global Opportunities Fund seeks investment
results that provide a high level of total return. "We are pleased
for the opportunity to list the Clough Global Opportunities Fund on
the American Stock Exchange and look forward to our ongoing
relationship," said Charles I. Clough, Jr., Chairman and Chief
Executive Officer, Clough Capital Partners L.P. "We are excited to
welcome Clough Capital Partners L.P. back to the Amex for their
third closed-end fund listing," said Tom Rzepski, Vice President of
the Amex's closed-end fund business. "With our longstanding
partnership with the fund's administrator and sponsor, ALPS Mutual
Funds Services, the Amex looks forward to continuing to collaborate
with ALPS while enhancing our relationship with the Clough Capital
Partners team to bring new investment opportunities to the market.
We are looking forward to their continued success." The Fund
applies a fundamental research-driven investment process, and will
invest in equity and equity-related securities, as well as fixed
income securities, including corporate and sovereign debt in both
U.S. and non-U.S. market. The Fund has the ability to employ
leverage up to 33% of total assets and short securities up to 30%
of total assets. The Clough Global Opportunities Fund is sponsored
by ALPS Mutual Fund Services, Inc. ALPS in conjunction with Clough
Capital Partners, L.P., raised the assets for the fund's initial
public offering, ALPS also provides support services for the fund.
"We could not be more pleased with the success of the IPO and our
relationships with Clough Capital Partners, L.P.," said Ned Burke,
President and Director of ALPS. The Fund is issuing 45 million
common shares at an initial price of $20 per share, resulting in
gross proceeds of $900 million, exclusive of the underwriters'
over-allotments. The lead manager of the underwriting syndicate was
Merrill Lynch & Co. The co-lead managers were Citigroup, A.G.
Edwards and Raymond James. The specialist for GLO is Kellogg
Capital Group, LLC. About the American Stock Exchange The American
Stock Exchange(R) (Amex(R)) is the only primary listing exchange
that offers trading across a full range of equities, options, and
exchange traded funds (ETFs), including structured products, and
HOLDRS(SM). The Amex pioneered the ETF, and is responsible for
bringing the first domestic product to market in 1993. Leading the
industry in ETF listings, the Amex, to date, lists 165 ETFs. The
Amex also lists and trades options on broad-based and sector
indexes as well as domestic and foreign stocks. Clough Capital
Partners L.P. Clough Capital is a Boston-based investment
management firm that uses a theme-based fundamental investment
process for closed-end funds, hedge funds, institutions and high
net worth individuals. Based on experience and sound research, the
investment management team identifies themes around the globe and
has the flexibility to invest long or short to take advantage of
specific investment themes. Clough was founded in 2000 by Chuck
Clough and partners James Canty and Eric Brock. The three partners
act as portfolio managers for the Clough Global Equity Fund. ALPS
Mutual Funds Services Inc., In its 20th year of business, ALPS
Mutual Funds Services, Inc. is a Denver-based outsourcing solution
for administration, fund accounting, transfer agency and
shareholder services for open-end funds, closed-end funds and
exchange-traded funds. ALPS has approximately $12 billion in client
mutual fund assets under administration. ALPS Distributors, Inc.
provides distribution services and has approximately $120 billion
in client assets under distribution. For more information, visit
http://www.alpsinc.com/. DATASOURCE: American Stock Exchange
CONTACT: Renee Rossi of American Stock Exchange, +1-212-306-8964,
Web site: http://www.amex.com/ http://www.alpsinc.com/
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