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Macquarie Global Infrastructure – GuruFocus.com

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Macquarie Global Infrastructure Total Return Fund Inc. (NYSE: MGU) (the “Fund”), a closed-end fund, paid a monthly distribution on its common stock of $0.13 per share to shareholders of record at the close of business on August 19, 2022.

The following table sets out the estimated amount of sources of distribution for the purposes of section 19 of the Investment Companies Act 1940, as amended, and the related rules adopted thereunder. The Fund estimates the following percentages, of the total amount of the distribution per share, attributable to (i) current and prior year net investment income, (ii) net realized short-term capital gain , (iii) the long-term net realized capital gain and (iv) a return of capital or other source of capital as a percentage of the total amount of the distribution. These percentages are disclosed for the current distribution as well as the amount of the cumulative distribution per share for the Fund year-to-date.

Current cast of:

Per share ($)

%

Net investment income

0.0000

0.00%

Net realized capital gain in the short term

0.0738

56.77%

Long-term net realized capital gain

0.0562

43.23%

Return of capital or other source of capital

0.0000

0.00%

Total (per common share)

0.1300

100.00%

Total fiscal year to date

Distribution of:

Per share ($)

%

Net investment income

0.5195

43.95%

Net realized capital gain in the short term

0.4024

34.04%

Long-term net realized capital gain

0.2601

22.01%

Return of capital or other source of capital

0.0000

0.00%

Total (per common share)

1.1820

100.00%

The amounts and sources of distributions set forth in this 19(a) Notice are estimates only and not for tax reporting purposes. Actual amounts and sources of amounts for tax reporting purposes will depend on the Fund’s investment experience over the remainder of its financial year and may be subject to change as a result of tax regulations. The Fund will send you a Form 1099-DIV for the calendar year which will tell you how to report these distributions for federal income tax purposes.

The performance figures presented below are based on the change in the net asset value per share (“NAV”) of the Fund, compared to the annualized distribution rate for this current distribution as a percentage of the NAV on the last business day of the preceding month. broadcast recording date.

Fund performance and distribution information

Fiscal year to date (01/12/2021 to 31/07/2022)

Annualized Distribution Rate as a Percentage of Net Asset Value^

5.46%

Cumulative distribution rate on NAV ^^

4.14%

Cumulative total return on NAV*

15.29%

Average annual total return on net asset value for the 5-year period ending 07/31/2022**

6.65%

^ Based on the Fund’s net asset value as of July 31, 2022.

^^ The cumulative distribution rate is the cumulative amount of distributions paid during the Fund’s fiscal year ending November 30, 2022 based on the Fund’s net asset value as of July 31, 2022.

* Cumulative total return is based on the change in net asset value, including distributions paid and assuming the reinvestment of such distributions for the period from December 1, 2021 to July 31, 2022.

** The 5-year average annual total return is based on the change in net asset value, including distributions paid and assuming the reinvestment of such distributions, and extends to the last business day of the month preceding the month of the record date of the current distributions.

The payment of dividend distributions in accordance with the distribution policy may result in a reduction in the net assets of the Fund. A decrease in the net assets of the Fund may result in an increase in the annual operating expenses of the Fund and a decrease in the market price per share of the Fund to the extent that the market price is closely correlated to the net asset value per share of the Funds. The distribution policy may also adversely affect the Fund’s investment activities to the extent that the Fund is required to hold more cash than it would normally hold or to the extent that the Fund is required to liquidate securities that he would not have sold, in order to pay the distribution of the dividend. The distribution policy may, in certain circumstances, cause the amounts of taxable distributions to exceed the minimum amount required to be distributed under the tax rules, such excess will be taxable as ordinary income to the extent that losses carried forward reduce the amount required capital gains distributions that year. The Board of Directors has the right to modify, suspend or terminate the distribution policy at any time. Modification, suspension or termination of the distribution policy may affect the market price per share of the Fund. Investors should consult their tax advisor regarding federal, state and local tax considerations that may apply to their particular situation.

Although the return on net asset value may be indicative of the investment performance of the Fund, it does not measure the value of a shareholder’s investment in the Fund. The value of a shareholder’s investment in the Fund is determined by the market price of the Fund, which is based on the supply and demand for shares of the Fund in the open market. Shareholders should not draw any conclusions about the performance of the Fund’s investments from the amount of such distribution or the terms of the Fund’s Managed Distribution Plan.

In addition, the board of directors reviews the amount of any possible distribution and the income, capital gains or capital available. The Board of Directors will continue to monitor the level of distribution of the Fund, taking into account the net asset value of the Fund and the financial market environment. The Fund’s distribution policy is subject to change at any time by the Board of Directors. The distribution rate should not be considered as the dividend yield or the total return of an investment in the Fund.

The Fund is not intended to be a complete investment program. An investment in the Fund involves risk, and the Fund may or may not be able to achieve its investment objective for a variety of reasons. The following summarizes some of the Fund’s risks, but does not purport to be a complete list of all risks. Investors should read the Fund’s Prospectus carefully and consult their own advisers.

The Fund is also subject to risks as it is an actively managed portfolio. Industry concentration and infrastructure industry risk. The Fund will be concentrated in the infrastructure sector and will be more sensitive to adverse economic or regulatory events affecting this sector than a fund which is not concentrated in a specific sector. Non-US Investment Risk. The majority of the Fund’s investments will be in non-US issuers and a significant portion of the transactions executed for the Fund will take place in foreign markets. Investments in securities and instruments of non-US issuers involve certain considerations and risks not generally associated with investments in those of US issuers. Emerging Markets Risk. In addition to non-US investment risk, investments in emerging markets may expose the Fund to increased risks which may be more volatile than investments in developed markets. Use of derivatives and hedging instruments. The Fund may use derivatives and employ various hedging techniques. Derivatives can be illiquid, increase losses disproportionately and have a potentially significant impact on the performance of the Sub-Fund. Some of the investment techniques the Fund may employ for hedging purposes or to enhance income or total return expose the Fund at additional risk. Leverage risk. The Fund intends to use leverage as part of its investment strategy. The use of leverage will increase the volatility of the Fund and increase the risk for investors. Any difficulty in maintaining the Fund’s leverage could result in the diversion of cash flows and/or require the liquidation of part of the Fund’s portfolio. Restrictions imposed as a result of any leverage may directly or indirectly impede the ability of the Fund to take actions that might otherwise be taken in an unleveraged portfolio of similar assets.

Delaware Management Company is an indirect wholly owned subsidiary of Macquarie Group Limited (MGL). With the exception of Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any entity of the Macquarie group mentioned herein is not an authorized depository institution for the purposes of the Banking Act 1959 (Commonwealth of ‘Australia). The obligations of these other Macquarie group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or provide any other assurance with respect to the obligations of such other Macquarie group entities. In addition, if this document relates to an investment, (a) the investor is subject to investment risk, including delays in repayment and loss of income and invested capital and (b) none of Macquarie Bank or any other entity within the Macquarie group does not guarantee any rate of return or return on the investment, nor guarantee the return of capital on the investment.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220826005375/en/