Today, Delaware Ivy High Income Opportunities Fund (the “Fund”),
a New York Stock Exchange-listed closed-end fund trading under the
symbol “IVH”, announced that the Fund will make a final
distribution of $0.149 per share in connection with the
reorganization of the Fund into abrdn Income Credit Strategies Fund
(the “Acquiring Fund”), a New York Stock Exchange-listed closed-end
fund trading under the symbol “ACP” (the “Reorganization”). The
final distribution will be payable March 3, 2023 to common
shareholders of record on February 24, 2023 and will be paid out in
cash (no dividends will be reinvested). The final Fund distribution
will consist of substantially all of the Fund’s undistributed
tax-exempt interest income, ordinary income and capital gain net
income, if any, earned and anticipated to be earned through the
close of business on March 10, 2023. In early 2024, common
shareholders of the Fund will receive a Form 1099-DIV for the
calendar year 2023 that will tell shareholders how to report these
distributions for federal income tax purposes.
The final distribution is being made in connection with an
Agreement and Plan of Acquisition (the “Plan of Acquisition”)
providing for (i) the acquisition by the Acquiring Fund of
substantially all of the assets of the Fund, in exchange for newly
issued common shares of the Acquiring Fund; (ii) the distribution
of such newly issued common shares of the Acquiring Fund to holders
of common shares of the Fund; and (iii) the dissolution of the Fund
thereafter. The Plan of Acquisition was approved by shareholders at
the Special Meeting of Shareholders held on November 9, 2022, and
the transaction is currently anticipated to close on or about March
10, 2023 at approximately 5:00 pm ET. Following completion of the
acquisition, the Fund will be delisted.
In connection with the Agreement and Plan of Reorganization, the
Fund has filed relevant materials with the U.S. Securities and
Exchange Commission, including a Form N-14 registration statement
for the Acquiring Fund that contained a prospectus. The foregoing
is not an offer to sell, nor a solicitation of an offer to buy,
shares of any fund.
All shareholders are advised to read the proxy
statement/prospectus in its entirety because it contains important
information regarding the Fund, the Acquiring Fund, the Agreement
and Plan of Reorganization, the Board’s considerations in
recommending the Agreement and Plan of Reorganization, and related
matters. Shareholders may obtain a free copy of the proxy
statement/prospectus and other documents filed with the SEC,
including the Fund’s most recent annual reports to shareholders, on
the SEC’s website at http://www.sec.gov, and copies of this
information may be obtained, after paying a duplicating fee, by
electronic request at the following e-mail address:
publicinfo@sec.gov. Copies of all of these documents may be
obtained upon request without charge by visiting the Fund’s website
at delawarefunds.com/closed-end, or by writing to the Fund at 610
Market Street, Philadelphia, PA 19106-2354, or calling 866
437-0252.
About the Fund
Delaware Ivy High Income Opportunities Fund, a non-diversified
closed-end fund, is listed on the New York Stock Exchange. The
Fund’s investment adviser is Delaware Management Company
(“Investment Adviser”), a series of Macquarie Investment Management
Business Trust, which is a subsidiary of Macquarie Management
Holdings, Inc. (“MMHI”). MMHI is a subsidiary, and subject to the
ultimate control, of Macquarie Group Limited. Macquarie Asset
Management is a global asset manager that aims to deliver positive
impact for everyone. Trusted by institutions, pension funds,
governments, and individuals to manage more than $US508 billion in
assets globally,1 we provide access to specialist investment
expertise across a range of capabilities including infrastructure,
green investments and renewables, real estate, agriculture &
natural assets, asset finance, private credit, equities, fixed
income and multi asset solutions.
The Fund’s investment objective is to seek to provide total
return through a combination of a high level of current income and
capital appreciation. The Fund seeks to achieve its investment
objective by investing primarily in a portfolio of high yield
corporate bonds of varying maturities and other fixed income
instruments of predominantly corporate issuers, including first-
and second-lien secured loans ("Secured Loans"). In addition, the
Fund utilizes leveraging techniques in an attempt to obtain a
higher return for the Fund. There can be no assurance that the Fund
will achieve its investment objective.
Under normal circumstances, the Fund will invest at least 80% of
its Managed Assets (as defined below) in a portfolio of U.S. and
foreign bonds, loans and other fixed income instruments, as well as
other investments (including derivatives) with similar economic
characteristics. The Fund will invest primarily in instruments that
are, at the time of purchase, rated below investment grade (below
Baa3 by Moody’s Investors Service, Inc. ("Moody’s") or below BBB-
by either Standard & Poor’s Rating Services ("S&P") or
Fitch, Inc. ("Fitch"), or comparably rated by another nationally
recognized statistical rating organization ("NRSRO")), or unrated
but judged by the Adviser, to be of comparable quality. "Managed
Assets" means the Fund’s total assets, including the assets
attributable to the proceeds from any borrowings or other forms of
structural leverage minus liabilities other than the aggregate
indebtedness entered into for purposes of leverage. The Fund may
invest 100% of its Managed Assets in fixed income instruments and
securities issued by foreign issuers, and up to 25% of its Managed
Assets in fixed income instruments and securities of issuers in
emerging markets. Such foreign instruments may be U.S. currency
denominated or foreign currency denominated. Under normal market
conditions the Fund’s investments will consist predominantly of
high yield bonds and/or Secured Loans; however, the Fund’s
investments in fixed income instruments also may include, to a
lesser extent, debentures, notes, commercial paper, investment
grade bonds, loans other than secured loans, including unsecured
loans and mezzanine loans, and other similar types of debt
instruments, as well as derivatives related to or referencing these
types of securities and instruments. The Fund will not invest in
collateralized loan obligations or collateralized debt obligations.
The Fund will seek to dynamically adjust and hedge its duration
depending on the market opportunities available. Under normal
circumstances, the dollar-weighted average portfolio duration of
the Fund will generally range between zero and seven years.
The price of the Fund’s shares will fluctuate with market
conditions and other factors. Closed-end funds frequently trade at
a discount from their net asset values (NAVs), which may increase
an investor’s risk of loss. At the time of sale, shares may have a
market price that is below NAV and may be worth less than the
original investment upon their sale.
The Fund’s investments in below investment grade securities
(commonly referred to as "high yield securities" or "junk bonds")
may carry a greater risk of nonpayment of interest or principal
than higher rated bonds. Loans (including loan assignments, loan
participations and other loan instruments) carry other risks,
including the risk of insolvency of the lending bank or other
intermediary. Loans may be unsecured or not fully collateralized,
may be subject to restrictions on resale and sometimes trade
infrequently on the secondary market.
1 As of September 30, 2022
Other than Macquarie Bank Limited ABN 46 008 583 542
(“Macquarie Bank”), any Macquarie Group entity noted in this press
release is not an authorised deposit-taking 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 otherwise provide assurance in
respect of the obligations of these other Macquarie Group entities.
In addition, if this press release relates to an investment, (a)
the investor is subject to investment risk including possible
delays in repayment and loss of income and principal invested and
(b) none of Macquarie Bank or any other Macquarie Group entity
guarantees any particular rate of return on or the performance of
the investment, nor do they guarantee repayment of capital in
respect of the investment.
© 2023 Macquarie Management Holdings, Inc.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230223006037/en/
Investors Computershare 866 437-0252
delawarefunds.com/closed-end
Media contact Lee Lubarsky 347 302-3000
Lee.Lubarsky@macquarie.com
Delaware Ivy High Income... (NYSE:IVH)
過去 株価チャート
から 11 2024 まで 12 2024
Delaware Ivy High Income... (NYSE:IVH)
過去 株価チャート
から 12 2023 まで 12 2024
