NEW YORK, NEW YORK--(Marketwired - Aug 13, 2014) - Brookfield Investment Management Inc. (the "Adviser") today announced that the reorganizations of each of 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) into Brookfield High Income Fund Inc. (NYSE:HHY) ("HHY") (each, a "Reorganization") is effective as of the opening of trading on the New York Stock Exchange on August 13, 2014.
In the Reorganizations common shareholders of HAV, HIH, HMH, and HSA, respectively, received an amount of HHY common shares equal to the aggregate net asset value of their holdings of HAV, HIH, HMH and/or HSA common shares, as applicable, as determined at the close of business on August 12, 2014. Fractional HHY shares were not issued in the Reorganizations and consequently cash will be distributed for any such fractional amounts.
Relevant details pertaining to the reorganizations are as follows:
| Fund Name |
Ticker |
NAV/Share |
Conversion Ratio |
| Helios Advantage Income Fund, Inc. |
HAV |
$9.3222 |
0.89548712 |
| Helios High Income Fund, Inc. |
HIH |
$8.9021 |
0.85513247 |
| Helios Multi-Sector High Income Fund, Inc. |
HMH |
$6.3791 |
0.61277401 |
| Helios Strategic Income Fund, Inc. |
HSA |
$7.0296 |
0.67526080 |
| Brookfield High Income Fund Inc. |
HHY |
$10.4102 |
N/A |
This press release is not intended to, and shall not, constitute an offer to purchase or sell shares of any of the Funds, including HHY, the surviving fund in the Reorganizations. 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 approximately $200 billion in assets under management as of June 30, 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 and securitized credit strategies. Headquartered in New York, NY, Brookfield Investment Management maintains offices and investment teams in Toronto, Chicago, Boston and London and has over $16 billion of assets under management as of June 30, 2014. Brookfield High Income Fund Inc. is managed by Brookfield Investment Management.
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 Fund uses its web site as a channel of distribution of material company information. Financial and other material information regarding the Fund is routinely posted on and accessible at www.brookfieldim.com.