CALGARY, Nov. 22, 2016 /CNW/ - Middlefield Group is pleased to announce a special meeting of unitholders of Global Healthcare Dividend Fund (the "Fund"), was held today at which approximately 96.4% of the unitholders of the Fund present in person or represented by proxy voted in favour of a resolution authorizing the conversion of the Fund into an open-end mutual fund trust on or about December 20, 2016 (the "Effective Date"). The conversion is expected to benefit unitholders of the Fund by providing an opportunity to hold units of an open-end mutual fund that offers daily purchases and redemptions at net asset value. Following the conversion, the Fund's investment objectives will remain unchanged. Industry Advisor - After the conversion, the Fund will continue to benefit from Middlefield's ongoing exclusive relationship with SSR LLC, the Healthcare Industry Advisor. Dr. Richard Evans, SSR's co-founder, will be the individual primarily responsible for providing services on behalf of SSR. Distribution - After the conversion, the Fund will initiate a quarterly distribution of $0.05 per unit commencing in the first quarter of 2017, representing an annualized distribution of $0.20 per unit. The distribution will be supported by a portfolio of healthcare and healthcare-related issuers that Middlefield Capital Corporation, the Investment Advisor to the Fund, believes will generate strong cash flows and display prudent capital allocation. Performance - As at November 21, 2016, the Fund has a since inception annualized total return of 13.9%. Completion of the conversion is subject to the receipt of all necessary approvals and customary closing conditions. Middlefield Limited will submit an application to de-list the Fund's units from trading on the TSX as of the trading day immediately prior to the Effective Date.