NEW YORK, NEW YORK -- (Marketwired) -- 07/25/14 -- Brookfield Investment Management Inc. (the "Adviser") today announced special distributions for Helios Advantage Income Fund, Inc. (NYSE: HAV), Helios High Income Fund, Inc. (NYSE: HIH), Helios Multi-Sector High Income Fund, Inc. (NYSE: HMH), and Helios Strategic Income Fund, Inc. (NYSE: HSA) in connection with the reorganization of each of HAV, HIH, HMH and HSA into Brookfield High Income Fund Inc. ("HHY," and together with HAV, HIH, HMH and HSA, the "Funds"), with HHY continuing as the surviving fund (each, a "Reorganization").
With respect to each of HAV, HIH, HMH and HSA, the distribution announced today represents the respective Fund's final distribution, inclusive of undistributed net investment income earned through the effective date of the Reorganizations. In order to maintain their status as regulated investment companies and to avoid the imposition of a corporate level income tax, HAV, HIH, HMH and HSA are required to distribute all of their respective net investment income prior to the consummation of the Reorganizations. Investors in HAV, HIH, HMH and HSA should consider this distribution to be in lieu of the distribution that would ordinarily be declared on August 1, 2014, and such Funds will pay no further distributions to their shareholders prior to the Reorganizations.
With respect to HHY, shareholders should consider the distribution announced today to be inclusive of the distribution ordinarily declared on August 1, 2014. No other distribution for HHY will be paid during the month of August 2014. The next distribution declaration date of the combined fund (HHY) following the Reorganizations is expected to be September 5, 2014.
It is currently expected that the Reorganizations will be completed prior to the opening of the New York Stock Exchange on August 11, 2014, subject to all regulatory requirements and customary closing conditions being satisfied. The Reorganizations, if completed, would occur based on the relative net asset values of (i) HAV and HHY, (ii) HIH and HHY, (iii) HMH and HHY, and (iv) HSA and HHY, respectively.
Distribution details are as follows:
Declaration - 07/25/14 Ex-Date - 07/31/14 Record - 08/04/14 Payable - 08/06/14 ---------------------------------------------------------------------------- Fund Name Ticker Special Distribution ---------------------------------------------------------------------------- Helios Advantage Income Fund, Inc. HAV $ 0.1219 ---------------------------------------------------------------------------- Helios High Income Fund, Inc. HIH $ 0.1015 ---------------------------------------------------------------------------- Helios Multi-Sector High Income Fund, Inc. HMH $ 0.0911 ---------------------------------------------------------------------------- Helios Strategic Income Fund, Inc. HSA $ 0.0664 ---------------------------------------------------------------------------- Brookfield High Income Fund Inc. HHY $ 0.075 ----------------------------------------------------------------------------
This press release is not intended to, and shall not, constitute an offer to purchase or sell shares of any of the Funds. Investors should consider the investment objectives, risks, charges and expenses of their fund(s) 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 HHY.
Brookfield Asset Management Inc. is a global alternative asset manager with $190 billion in assets under management as of March 31, 2014. Brookfield has over a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. The company offers a range of public and private investment products and services, which leverage its expertise and experience and provide it with a competitive advantage in the markets where it operates. On behalf of its clients, Brookfield is also an active investor in the public securities markets, where its experience extends over 30 years. Over this time, the company has successfully developed several investment operations and built expertise in the management of institutional portfolios, retail mutual funds, and structured product investments.
Brookfield's public market activities are conducted by Brookfield Investment Management, a registered investment advisor. These activities complement Brookfield's core competencies and include global listed real estate and infrastructure equities, corporate credit and opportunistic credit strategies. Headquartered in New York, NY, Brookfield Investment Management maintains offices and investment teams in Toronto, Chicago, Boston and London and has over $14 billion of assets under management as of March 31, 2014. Each of Helios Advantage Income Fund, Inc., Helios High Income Fund, Inc., Helios Multi-Sector High Income Fund, Inc., Helios Strategic Income Fund, Inc. and Brookfield High Income Fund Inc. is managed by Brookfield Investment Management Inc.
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 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 Brookfield Investment Management Inc. and the Funds managed by Brookfield Investment Management Inc. and its present expectations or projections, including risks relating to the timing and consummation of the reorganizations and the expected benefits of the reorganizations. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Brookfield Investment Management Inc. and the Funds managed by Brookfield Investment Management Inc. undertake no responsibility to update publicly or revise any forward-looking statements.
The Funds use their web site as a channel of distribution of material company information. Financial and other material information regarding the Funds is routinely posted on and accessible at www.brookfieldim.com.
Contacts:
Brookfield High Income Fund Inc.
(855) 777-8001
funds@brookfield.com
Helios Advantage Income Fund, Inc.
(855) 777-8001
funds@brookfield.com
Helios High Income Fund, Inc.
(855) 777-8001
funds@brookfield.com
Helios Multi-Sector High Income Fund, Inc.
(855) 777-8001
funds@brookfield.com
Helios Strategic Income Fund, Inc.
(855) 777-8001
funds@brookfield.com
www.brookfieldim.com
