Clough Global Equity Fund announces an Equity Buyback for 5% of its issued share capital.
June 05, 2024 at 09:30 am IST
Share
Clough Global Equity Fund (NYSEAM:GLQ) announces a share repurchase program. Under the program, the company will repurchase up to 5% of its outstanding common shares. The purpose of the program is to enhance shareholder value. The repuchases will expire on June 30, 2025.
Clough Capital Partners L.P. acted as investment adviser to the Funds.
Clough Global Equity Fund (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide a high level of total return. The Fund is focused on achieving its objective by applying a fundamental research-driven investment process and will invest in equity securities of companies of any market capitalization and equity-related securities, including equity swaps and call options, as well as fixed income securities, including both corporate and sovereign debt, in both United States and non-United States markets. It intends to invest primarily in a managed mix of global equity securities. The Fund focuses on investing in a range of sectors, including consumer discretionary, consumer staples, energy, financials, healthcare, industrials, information technology, materials, real estate, and utilities. Clough Capital Partners L.P. serves as the investment advisor of the Fund.