Flaherty & Crumrine Preferred Securities Income Fund Incorporated
and Flaherty & Crumrine Total Return Fund Incorporated
today announced that each fund has finalized the change in its name and that Destra Capital Investments LLC (“Destra Capital”) has begun serving both funds as shareholder servicing agent.
Each fund changed its name as follows:
- Flaherty & Crumrine/Claymore Preferred Securities Income Fund Incorporated (FFC) changed its name to “Flaherty & Crumrine Preferred Securities Income Fund Incorporated”; and
- Flaherty & Crumrine/Claymore Total Return Fund Incorporated (FLC) changed its name to “Flaherty & Crumrine Total Return Fund Incorporated.”
Destra Capital is an independent fund distribution and servicing firm and registered broker dealer. As part of the secondary support services it provides, Destra Capital serves fund shareholders and the broader financial community. They also support FFC and FLC in the U.S. financial advisor community as an investment option for current and potential investors. Destra Capital is headquartered in Lisle, IL and employs approximately 30 wholesale fund distribution professionals located throughout the United States.
Flaherty & Crumrine Incorporated remains each Fund’s investment adviser and there has been no change in investment strategies or style as a result of the appointment of Destra Capital as shareholder servicing agent. The Funds continue to trade on the NYSE under their respective ticker symbols, FFC and FLC and their CUSIPs remain the same.
FFC and FLC were organized in 2003 as closed-end, diversified investment companies.
FFC invests primarily in preferred securities with an investment objective of high current income consistent with preservation of capital.
FLC invests primarily in preferred and other income-producing securities with a primary investment objective of high current income and a secondary objective of capital appreciation.
FFC and FLC are managed by Flaherty & Crumrine Incorporated, an independent investment adviser which was founded in 1983 to specialize in the management of portfolios of preferred and related securities.
Flaherty & Crumrine also manages two other U.S. closed-end funds:
Flaherty & Crumrine Preferred Income Fund (NYSE: PFD); and Flaherty & Crumrine Preferred Income Opportunity Fund (NYSE: PFO).