First Trust Global DividendSeeker Fund
TSX : FDS.UN

First Trust Global DividendSeeker Fund

March 23, 2016 12:44 ET

First Trust Global DividendSeeker Fund to Be Wound Up

TORONTO, ONTARIO--(Marketwired - March 23, 2016) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

First Trust Global DividendSeeker Fund (TSX:FDS.UN) (the "Fund") announced today that BMO Nesbitt Burns Inc. (the "Manager"), the manager of the Fund, has decided to terminate the Fund on June 3, 2016 or as soon as practicable after such date. The net asset value ("NAV") of the Fund has been reduced as a result of redemptions of the Fund's units (the "Units") and the Manager believes that it is no longer economically feasible to continue the Fund and that it is in the best interests of unitholders of the Fund ("Unitholders") to terminate the Fund.

In accordance with the Fund's declaration of trust, the Manager may, in its discretion, on 60 days' notice to Unitholders, terminate the Fund without the approval of Unitholders if, in the opinion of the Manager, the NAV is reduced as a result of redemptions of Units or otherwise so that it is no longer economically feasible to continue the Fund and/or it would be in the best interests of the Unitholders to terminate the Fund. Upon termination, following the conversion of the assets of the Fund to cash, and the satisfaction of, or provision for, all liabilities of the Fund, the net assets of the Fund will be distributed to Unitholders on a pro rata basis based on the NAV of the classes of Units. Following such distribution, the Fund will terminate.

Further information about First Trust Global DividendSeeker Fund can be found at www.bmocm.com/investorsolutions under "Closed-End Funds".

Contact Information

  • BMO Capital Markets
    1.866.864.7760