Certain statements made in this press release, such as those related to the conversion to an open-end fund
, are forward-looking statements.
With a big portfolio, whether you call it a REIT or an open-end fund
or whatever you call it, there's no beginning middle and end.
The Open-End Fund
would seek to provide current income with an emphasis on income exempt from federal income tax, while also considering capital appreciation.
Certain statements made in this press release, such as those related to the recommended conversion to an open-end fund
, and the opportunity for enhanced liquidity and shareholder value, are forward-looking statements.
Although shares of the Open-End Fund
will be issued on the Closing Date, the processing and availability of those shares may vary by financial intermediary.
The Trustees have approved in principle a plan to merge Putnam Tax-Free Health Care Fund (NYSE: PMH) into Putnam Tax Exempt Income Fund, an open-end fund
also managed by Putnam Investments.
The merger recommended by the Board would give shareholders shares of an open-end fund
with a value equal to the full net asset value of their shares, with the opportunity to realize the full net asset value of their shares shortly after the merger.
This newly created open-end fund
will also be named AIM Select Real Estate Income Fund.
The fund has ceased purchasing its Common Shares as a result of the Board's determination to reorganize the fund as an open-end fund
At a special stockholder meeting held on March 14, 2006, at the principal executive offices of the Fund, the proposals brought before the stockholders, which included proposals to approve (i) the conversion of the Fund to an open-end fund
, (ii) a 12b-1 distribution and shareholder servicing plan for the Fund, and (iii) the amendment and restatement of the Fund's investment advisory agreement, received sufficient votes to be approved by the stockholders.
with assets of $46,903,410 as of November 2, 2001, announced today the following schedule for its conversion from a closed-end fund to an open-end fund
Accordingly, the Board of Directors is not required to propose that the Fund convert to an open-end fund