PHILADELPHIA CREAM–(BUSINESS WIRE)–Today, Delaware Enhanced Global Dividend and Income Fund (the “Fund”), a closed-end fund listed on the New York Stock Exchange and trading under the symbol “DEX”, declared a monthly distribution of 0, $0612 per share. The monthly distribution is payable on April 29, 2022 to shareholders of record at the close of business on April 22, 2022. The ex-dividend date will be April 21, 2022.
In addition, the Fund today announced that Aaron D. Young has been appointed co-manager of the Fund. Mr. Young will join Åsa Annerstedt, Adam H. Brown, Liu-Er Chen, Chris Gowlland, Jens Hansen, Allan Saustrup Jensen, Claus Juul, Nikhil G. Lalvani, Benjamin Leung, Stefan Löwenthal, John P. McCarthy, Klaus Petersen, Scot Thompson, Michael G. Wildstein and Jürgen Wurzer in making day-to-day investment decisions for the Fund.
Aaron D. Young, Vice President, Portfolio Manager, is a portfolio manager at Ivy Investments, now part of Macquarie Asset Management‘s Delaware Management Company. He joined Macquarie Asset Management (MAM) as part of the company’s acquisition (transaction) on April 30, 2021 of the investment management business of Waddell & Reed Financial, Inc., the parent company of ‘Ivy Investment Management Company (IICO), the former investment firm adviser to the Transaction Funds. He joined IICO in 2005 as a fixed income analyst, specializing in credit and derivatives research. He joined IICO’s Asset Strategy team as an investment analyst in 2007. He was an associate portfolio manager for investment companies managed by IICO (or its subsidiaries) since 2012 and is a portfolio manager at with the multi-asset investment team since 2016. He earned a bachelor’s degree in philosophy from the University of Missouri and holds an MBA with a major in finance and strategy from the Olin School of Business at Washington University.
The primary investment objective of the Fund is to seek current income, with a secondary objective of capital appreciation. The Fund invests globally in dividend-paying or income-generating securities across multiple asset classes, including but not limited to: equity securities of large, well-established companies; securities issued by real estate companies (including real estate investment trusts and real estate operating companies); debt securities (such as government bonds; high-quality, high-risk, high-yield corporate bonds; and convertible bonds); and emerging market securities. The Fund also employs enhanced income strategies by engaging in dividend capture transactions; option overwrite; and the realization of gains on the sale of securities, dividend growth and forward exchange contracts. There can be no assurance that the Fund will achieve its investment objectives.
Under normal market conditions, the Fund will invest: (1) no more than 60% of its net assets in securities of US issuers; (2) at least 40% of its net assets in securities of non-US issuers, unless market conditions are deemed unfavorable by the Manager, in which case the Fund would invest at least 30% of its net assets in securities of non-US issuers. – US issuers; and (3) up to 25% of its net assets in securities issued by real estate companies (including REITs and real estate operating companies). In addition, the Fund uses leverage techniques with the aim of obtaining a higher return for the Fund.
The Fund has implemented a managed distribution policy. Under the policy, the Fund is managed with the objective of generating as many distributions as possible from net investment income and short-term capital gains. The balance of the distribution will then come from long-term capital gains to the extent permitted and, if applicable, return of capital. A return of capital may occur, for example, when some or all of the money you have invested in the Fund is returned to you. A return of capital distribution does not necessarily reflect the performance of the Fund’s investments and should not be confused with “yield” or “income”. Although the Fund may realize capital gains for the current year, these gains may be offset, in whole or in part, by the Fund’s capital loss carryforwards from previous years.
Under the Fund’s managed distribution policy, the Fund pays monthly distributions to common shareholders at a target annual distribution rate of 7.0% of the Fund’s average net asset value (“NAV”) per share. The Fund will calculate the average net asset value per share for the three full months immediately preceding the distribution based on the number of business days in those three months on which the net asset value is calculated. The distribution will be calculated as 7.0% of the previous three months’ average net asset value per share, divided by 12. The Fund will generally distribute amounts necessary to satisfy the Fund’s managed distribution policy and the requirements prescribed by the rules on excise tax and sub-chapter M of the Internal Revenue Code. This method of distribution is intended to provide shareholders with a steady, but not guaranteed, stream of income and a target annual distribution rate and is intended to reduce any discount between the market price and the net asset value of the common shares of the Fund, but nothing guarantees that the policy will succeed in doing so. The method of determining monthly distributions under the Fund’s Managed Distribution Policy will be reviewed at least annually by the Fund’s Board of Trustees, and the Fund will continue to assess its distribution in light of market conditions. In progress.
You should not draw any inference about the Fund’s investment performance from the amount of such distribution or the terms of the Fund’s managed distribution policy. The amounts and sources of reportable Fund distributions will be estimates and will not be provided 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.
About Macquarie Asset Management
Macquarie Asset Management is a global asset manager that aims to deliver positive impact to everyone. Recognized by institutions, pension funds, governments and individuals for managing over $545 billion in assets worldwide,1 we provide access to specialist investment expertise across a range of capabilities, including fixed income, equities, multi-asset solutions, private credit, infrastructure, renewable energy, natural assets, real estate and transport financing.
Advisory services are provided by Delaware Management Company, a series of Macquarie Investment Management Business Trust, a registered investment adviser. Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, financing, banking, advisory and risk and capital solutions for debt, equities and commodities. Founded in 1969, Macquarie Group employs approximately 16,400 people in 31 markets and is listed on the Australian Securities Exchange. For more information on Macquarie’s Delaware Funds®visit delawarefunds.com or call 800 523-1918.
With the exception of Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any entity of the Macquarie group mentioned in this document 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.
1 As of December 31, 2021
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