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On January 3, 2023, the fair value methodology used to value the senior loan investments held by the fund was changed. Prior to that date, the senior loans were valued using the bid side price provided by a pricing service. After such date, the senior loans were valued using the midpoint between the bid and ask price provided by a pricing service. The change in the fund's fair value methodology on January 3, 2023, resulted in a one-time increase in the fund's net asset value of approximately $0.010 per share on that date, which represented a positive impact on the fund's performance of 0.11%.
Investment Objective/Strategy - Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (the "Fund") is a diversified, closed-end management investment company. The Fund seeks to provide a high level of current return consisting of dividends, interest and other similar income while attempting to preserve capital. The Fund seeks to achieve its investment objective by investing predominantly in the securities of companies that are involved in the management, ownership, and/or operation of infrastructure and utilities assets, and are expected to offer reasonably predictable income and attractive yields. The Fund also invests in senior secured loans generally considered to be high-yield securities.
There can be no assurance that the Fund's investment objectives will be achieved. The Fund may not be appropriate for all investors.
Ticker | MFD |
Fund Type | Global Equity Income |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | BNY Mellon Investment Servicing (US) Inc. |
Sub-Advisor | Delaware Investments Fund Advisers |
CUSIP | 55607W100 |
Fiscal Year-End | 11/30 |
Exchange | NYSE |
Inception | 3/25/2004 |
Inception Price | $20.00 |
Inception NAV | $19.10 |
Closing NAV1 | $9.54 |
Closing Market Price2 | $8.54 |
Discount to Net Asset Value (NAV) | 10.48% |
Total Managed Assets | $109,092,359 |
Common Shares Outstanding | 8,547,442 |
Dividend Frequency | Quarterly |
Dividend Per Share Amt3 | $0.2000 |
Distribution Rate4 | 9.37% |
Daily Volume | 15,749 |
Average 30-Day Daily Volume | 21,200 |
Closing Market Price 52-Week High/Low | $10.92 / $7.68 |
Closing NAV 52-Week High/Low | $11.35 / $8.10 |
Annual Expenses | Percent of Net Assets | Percent of Managed Assets |
Management Fees | 1.37% | 1.00% |
Other Expenses | 0.38% | 0.27% |
Total Operating Expenses | 1.75% | 1.27% |
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Leverage Costs | 0.91% | 0.66% |
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Total Annual Expenses | 2.66% | 1.93% |
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Leverage costs include interest, fees and any upfront/offering costs associated with borrowings by the Fund.
Total Net Assets with Leverage | $109,092,359 |
Amount Attributable to Common Shares | $81,542,359 |
Amount Attributable to Other Borrowings | $27,550,000 |
Leverage (% of Total Adjusted Net Assets) | 25.25% |
Holding |
Percent |
Severn Trent PLC |
6.96% |
National Grid PLC |
6.14% |
Terna - Rete Elettrica Nazionale |
5.00% |
CLP Holdings, Ltd. |
4.86% |
Enterprise Products Partners LP |
4.80% |
Eversource Energy |
4.54% |
Sempra Energy |
4.41% |
United Utilities Group PLC |
4.41% |
Enbridge, Inc. |
4.28% |
Pennon Group PLC |
3.87% |
Past performance is not indicative of future results.
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Country |
Percent |
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USA
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42.40%
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United Kingdom
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23.72%
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Canada
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13.48%
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Italy
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8.21%
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Hong Kong
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4.86%
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Japan
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3.04%
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Luxembourg
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2.00%
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Australia
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1.41%
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Ireland
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0.88%
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Industry |
Percent |
Electric Utilities |
26.16% |
Oil, Gas & Consumable Fuels |
22.11% |
Water Utilities |
15.24% |
Multi-Utilities |
10.55% |
Wireless Telecommunication Services |
4.47% |
Media |
4.11% |
Road & Rail |
3.04% |
Independent Power and Renewable Electricity Producers |
2.55% |
Transportation Infrastructure |
2.37% |
Gas Utilities |
2.26% |
Industrial Conglomerates |
1.45% |
Airlines |
1.43% |
Diversified Telecommunication Services |
1.41% |
Chemicals |
0.97% |
Aerospace & Defense |
0.88% |
Commercial Services & Supplies |
0.71% |
Health Care Providers & Services |
0.29% |
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The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
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