Helios Mortgage Funds' Shareholders Approve Reorganization of Two Funds
March 16 2012 - 5:28PM
Marketwired
Brookfield Investment Management Inc. ("BIM") announced today that,
at a joint special meeting held earlier today, shareholders of
Helios Strategic Mortgage Income Fund, Inc. (NYSE:HSM) approved the
reorganization of HSM into Helios Total Return Fund, Inc.
(NYSE:HTR) and shareholders of HTR approved the issuance of
additional common shares of HTR in connection with the
reorganization. In addition, shareholders of HTR approved a
modification to the language of HTR's fundamental investment
restriction relating to concentration. HSM and HTR are closed-end
funds managed by BIM (the "Funds").
In connection with the reorganization, HTR will acquire all of
the assets and liabilities of HSM in a tax-free transaction in
exchange for common shares of HTR. The reorganization, if
completed, will occur based on the relative net asset values of HSM
and HTR. It is currently expected that the reorganization will be
concluded in the second quarter of 2012, subject to all regulatory
requirements and customary closing conditions being satisfied. The
Funds will issue a press release announcing the closing date of the
reorganization and the final distributions for HSM
shareholders.
This press release is not intended to, and shall not, constitute
an offer to purchase or sell shares of any of the Funds, including
HTR, the surviving fund of the reorganization. Investors should
consider the investment objectives, risks, charges and expenses of
the Funds carefully and consider in its entirety the Joint Proxy
Statement/Prospectus relating to the reorganization which contains
important information regarding the investment objectives and
policies, risks, charges, expenses and other important information
about HTR.
HTR is a diversified, closed-end management investment company
that seeks to provide high total return, including short- and
long-term capital gains and a high level of current income, through
the management of a portfolio of securities.
Helios Strategic Mortgage Income Fund, Inc. and Helios Total
Return Fund, Inc. are managed by Brookfield Investment Management
Inc., a global investment manager focused on specialized equity and
fixed income securities investments. The firm is a subsidiary of
Brookfield Asset Management Inc., a global alternative asset
manager with approximately $150 billion in assets under management
as of December 31, 2011 and over 100 years of history in owning and
operating assets with a focus on real estate, infrastructure, power
and private equity.
Brookfield Investment Management Inc. is an SEC-registered
investment advisor and with its affiliates, had approximately $21
billion in assets under management as of December 31, 2011.
Headquartered in New York, the firm maintains offices and
investment teams in Chicago, Boston, London, Hong Kong, Sydney, and
Toronto.
Forward-Looking Statements
Certain statements made in this news release that are not
historical facts are referred to as "forward-looking statements"
under the U.S. federal securities laws. Actual future results or
occurrences may differ significantly from those anticipated in any
forward-looking statements due to numerous factors. Generally, the
words "believe," "expect," "intend," "estimate," "anticipate,"
"project," "will" and similar expressions identify the forward
looking statements, which generally are not historical in nature.
Forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ from the
historical experience of BIM, HSM or HTR and each of their present
expectations or projections. You should not place undue reliance on
forward-looking statements, which speak only as of the date they
are made. BIM and the closed end funds managed by BIM undertake no
responsibility to update publicly or revise any forward-looking
statements.
The Annual and Semi-Annual Reports and other regulatory filings
of the Funds with the SEC are accessible on the SEC's website at
www.sec.gov. In addition, the Joint Proxy Statement/Prospectus
relating to the reorganization contains important information and
shareholders are urged to read it. The Joint Proxy
Statement/Prospectus is available free of charge by contacting BIM
at the contact information below, by visiting BIM's website at
www.brookfieldim.com or on the SEC's website at www.sec.gov.
Contacts: Helios Strategic Mortgage Income Fund, Inc. Helios
Total Return Fund, Inc. Three World Financial Center, 200 Vesey
Street, 24th Floor New York, NY 10281-1010 (800)
497-3746funds@brookfield.com
Hyperion Strategic Mortgage (NYSE:HSM)
Historical Stock Chart
From Jun 2024 to Jul 2024
Hyperion Strategic Mortgage (NYSE:HSM)
Historical Stock Chart
From Jul 2023 to Jul 2024