Home Breadcrumb caret Industry News Breadcrumb caret Industry Middlefield digital fund files IPO The closed-end fund invests in companies in the digital consumer industry By Staff | April 29, 2019 | Last updated on April 29, 2019 1 min read © raw pixel / 123RF Stock Photo The Digital Consumer Dividend Fund has filed a preliminary prospectus for an initial public offering of units at a price of $10 per unit, Calgary-based Middlefield Group said Friday. The investment objectives of the closed-end fund are to provide unitholders with stable monthly cash distributions and enhanced long-term total return through capital appreciation, the firm said in a release. The fund aims to achieve these objectives through a diversified, actively managed portfolio primarily comprised of dividend-paying securities of global issuers in the digital consumer industry, including streaming, digital content, cybersecurity, social networking, e-commerce and connectivity companies. The initial target distribution yield is 4% per year, based on the original subscription price. Toronto-based Middlefield Capital Corp. will advise the fund. Stamford, Connecticut-based research firm SSR LLC will act as an industry advisor to Middlefield. Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo