UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-21496
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Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund
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(Exact name of registrant as specified in charter)
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
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(Address of principal executive offices) (Zip code)
W. Scott Jardine, Esq.
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
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(Name and address of agent for service)
Registrant's telephone number, including area code: 630-765-8000
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Date of fiscal year end: November 30
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Date of reporting period: August 31, 2014
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Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of
this chapter), to file reports with the Commission, not later than 60 days after
the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under
the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use
the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and
the Commission will make this information public. A registrant is not required
to respond to the collection of information contained in Form N-Q unless the
Form displays a currently valid Office of Management and Budget ("OMB") control
number. Please direct comments concerning the accuracy of the information
collection burden estimate and any suggestions for reducing the burden to the
Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC
20549. The OMB has reviewed this collection of information under the clearance
requirements of 44 U.S.C. ss. 3507.
ITEM 1. SCHEDULE OF INVESTMENTS. The Schedule(s) of Investments is attached
herewith.
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
(MFD)
PORTFOLIO OF INVESTMENTS
AUGUST 31, 2014 (UNAUDITED)
SHARES DESCRIPTION VALUE
--------------- ----------------------------------------------------------------------- --------------
COMMON STOCKS (a) - 87.4%
AUSTRALIA - 10.0%
1,898,839 DUET Group (b)...................................................... $ 4,327,151
3,453,226 Spark Infrastructure Group (c)...................................... 6,353,533
703,884 Transurban Group (b)................................................ 5,298,589
--------------
15,979,273
--------------
BRAZIL - 2.6%
830,300 EDP - Energias do Brasil S.A. ...................................... 4,209,920
--------------
CANADA - 11.5%
164,400 Inter Pipeline, Ltd. (b)............................................ 5,485,544
264,871 Northland Power, Inc. (b)........................................... 4,409,239
72,844 Pembina Pipeline Corp. (b).......................................... 3,347,756
302,600 Veresen, Inc. (b)................................................... 5,182,021
--------------
18,424,560
--------------
CAYMAN ISLANDS - 4.0%
12,924,000 Hopewell Highway Infrastructure, Ltd. (b)........................... 6,470,275
--------------
FRANCE - 11.8%
126,087 Electricite de France S.A. (b)...................................... 4,099,575
63,588 Eutelsat Communications S.A. (b).................................... 2,120,965
388,246 GDF Suez (b)........................................................ 9,562,546
48,212 Vinci S.A. (b)...................................................... 3,151,587
--------------
18,934,673
--------------
GERMANY - 1.4%
90,557 Hamburger Hafen Und Logistik AG (b)................................. 2,189,974
--------------
HONG KONG - 2.0%
964,000 China Merchants Holdings International Co., Ltd. (b)................ 3,196,717
--------------
ITALY - 3.4%
213,481 Atlantia S.p.A. (b)................................................. 5,419,353
--------------
NETHERLANDS - 1.5%
46,182 Koninklijke Vopak N.V. (b).......................................... 2,367,779
--------------
SINGAPORE - 3.7%
8,321,000 Hutchison Port Holdings Trust (b)................................... 5,991,120
--------------
UNITED KINGDOM - 16.4%
1,762,899 Centrica PLC (b).................................................... 9,347,733
273,829 National Grid PLC (b)............................................... 4,086,797
506,325 SSE PLC (b)......................................................... 12,759,835
--------------
26,194,365
--------------
UNITED STATES - 19.1%
39,700 American Electric Power Co., Inc. (b)............................... 2,131,890
35,700 CMS Energy Corp. (b)................................................ 1,090,278
263,800 Corrections Corp. of America (b).................................... 9,401,832
61,200 ITC Holdings Corp. (b).............................................. 2,285,820
111,400 NiSource, Inc. (b).................................................. 4,419,238
44,400 PG&E Corp. (b)...................................................... 2,063,712
Page 1 See Notes to Quarterly Portfolio of Investments
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
(MFD)
PORTFOLIO OF INVESTMENTS (CONTINUED)
AUGUST 31, 2014 (UNAUDITED)
SHARES/
UNITS DESCRIPTION VALUE
--------------- ----------------------------------------------------------------------- --------------
COMMON STOCKS (a) (CONTINUED)
UNITED STATES (CONTINUED)
49,600 Sempra Energy (b)................................................... $ 5,256,112
47,200 Spectra Energy Corp. (b)............................................ 1,966,352
34,500 Williams (The) Cos., Inc. (b)....................................... 2,050,680
--------------
30,665,914
--------------
TOTAL COMMON STOCKS ................................................ 140,043,923
(Cost $126,597,992) --------------
MASTER LIMITED PARTNERSHIPS (a) - 8.3%
UNITED STATES - 8.3%
80,800 Buckeye Partners, L.P. (b).......................................... 6,383,200
28,400 Enbridge Energy Partners, L.P. (b).................................. 1,031,488
39,176 Energy Transfer Equity, L.P. (b).................................... 2,376,024
87,154 Enterprise Products Partners, L.P. (b).............................. 3,541,067
--------------
TOTAL MASTER LIMITED PARTNERSHIPS .................................. 13,331,779
(Cost $8,252,526) --------------
PRINCIPAL STATED
VALUE DESCRIPTION RATE (d) MATURITY(e) VALUE
--------------- ------------------------------------------ --------- --------------- --------------
SENIOR FLOATING-RATE LOAN INTERESTS - 29.6%
FRANCE - 1.6%
$ 1,340,385 Numericable US LLC, Dollar Denominated
Tranche B-1 Loan ...................... 4.50% 04/23/20 1,344,580
1,159,615 Numericable US LLC, Dollar Denominated
Tranche B-2 Loan ...................... 4.50% 04/23/20 1,163,245
--------------
2,507,825
--------------
LUXEMBOURG - 1.1%
1,720,263 Intelsat Jackson Holdings S.A., Term Loan
B-2 ................................... 3.75% 06/30/19 1,710,939
--------------
NETHERLANDS - 1.1%
1,324,144 UPC Broadband Holdings, B.V., Facility AH 3.25% 06/30/21 1,300,813
184,894 Ziggo, B.V., Term Loan B-1 ............... 3.50% 01/15/22 181,259
119,149 Ziggo, B.V., Term Loan B-2 ............... 3.50% 01/15/22 116,806
195,957 Ziggo, B.V., Term Loan B-3 ............... 3.50% 01/15/22 192,105
--------------
1,790,983
--------------
UNITED STATES - 25.8%
1,584,000 Calpine Construction Finance Co., Term B-1
Loan .................................. 3.00% 05/01/20 1,550,340
1,443,939 Calpine Corp., Term Loan (3/11) .......... 4.00% 04/01/18 1,442,322
485,000 Calpine Corp., Term Loan (6/11) .......... 4.00% 04/01/18 484,457
2,391,622 Cequel Communications Holdings I LLC, Term
Loan .................................. 3.50% 02/14/19 2,376,674
4,000,000 Charter Communications Operating LLC, Term
Loan .................................. 4.25% 08/12/21 4,022,520
776,267 CHS/Community Health Systems, Inc., 2017
Term E Loan ........................... 3.41%-3.48% 01/25/17 775,297
Page 2 See Notes to Quarterly Portfolio of Investments
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
(MFD)
PORTFOLIO OF INVESTMENTS (CONTINUED)
AUGUST 31, 2014 (UNAUDITED)
PRINCIPAL STATED
VALUE DESCRIPTION RATE (d) MATURITY(e) VALUE
--------------- ------------------------------------------ --------- --------------- --------------
SENIOR FLOATING-RATE LOAN INTERESTS (CONTINUED)
UNITED STATES (CONTINUED)
$ 2,069,010 CHS/Community Health Systems, Inc., 2021
Term D Loan ........................... 4.25% 01/27/21 $ 2,073,251
3,218,151 Crown Castle Operating Co., Non-Extended
Incremental Tranche B Term Loan ....... 3.00% 01/31/21 3,199,840
2,192,214 Drillships Financing Holding, Inc.,
Tranche B-1 Term Loan ................. 6.00% 02/17/21 2,198,615
1,190,977 Dynegy, Inc., Tranche B-2 Term Loan ...... 4.00% 04/23/20 1,188,750
405,000 Energy Transfer Equity L.P., Term Loan ... 3.25% 12/02/19 399,366
2,000,000 Expro Holdings Ltd., Term Loan ........... 5.75% 08/12/21 2,003,340
2,903,288 IASIS Healthcare Corp., Term Loan B-2 .... 4.50% 05/03/18 2,906,917
2,880,000 Level 3 Financing, Inc., Tranche B 2020
Term Loan ............................. 4.00% 01/15/20 2,865,600
950,000 Moxie Liberty LLC, Construction B-1
Advance ............................... 7.50% 08/21/20 969,000
1,000,000 Moxie Patriot LLC, Construction B-1 Term
Loan .................................. 6.75% 12/19/20 1,020,000
2,135,057 NRG Energy, Inc., Term Loan (2013) ....... 2.75% 07/01/18 2,118,596
593,250 Offshore Group Investment Ltd., Term Loan 5.00% 10/25/17 591,025
2,190,000 Panda Temple Power II LLC, Construction
Term Loan Advance ..................... 7.25% 04/03/19 2,233,800
2,562,063 Wide Open West Finance LLC, Term B Loan... 4.75% 03/27/19 2,567,187
2,462,500 Windstream Corp., Tranche B-4 Term Loan... 3.50% 01/08/20 2,450,188
1,964,928 Zayo Group LLC, Term Loan ................ 4.00% 07/02/19 1,956,460
--------------
41,393,545
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TOTAL SENIOR FLOATING-RATE LOAN INTERESTS .......................... 47,403,292
(Cost $47,479,227) --------------
TOTAL INVESTMENTS - 125.3% ......................................... 200,778,994
(Cost $182,329,745) (f)
OUTSTANDING LOANS - (29.6%) ........................................ (47,500,000)
NET OTHER ASSETS AND LIABILITIES - 4.3% ............................ 6,944,082
--------------
NET ASSETS - 100.0% ................................................ $ 160,223,076
==============
---------------------------------
(a) Portfolio securities are categorized based on their country
of incorporation.
(b) All or a portion of this security serves as collateral on
the outstanding loan.
(c) This security is restricted in the U.S. and cannot be
offered for public sale without first being registered
under the Securities Act of 1933, as amended. This security
is not restricted on the Australian Exchange and trades
freely without any additional registration. As such, it
does not require the additional disclosure required of
restricted securities.
(d) Senior Floating-Rate Loan Interests ("Senior Loans") in
which the Fund invests pay interest at rates which are
periodically predetermined by reference to a base lending
rate plus a premium. These base lending rates are generally
(i) the lending rate offered by one or more major European
banks, such as the London Inter-Bank Offered Rate
("LIBOR"), (ii) the prime rate offered by one or more
United States banks or (iii) the certificate of deposit
rate. Certain Senior Loans are subject to a LIBOR floor
that establishes a minimum LIBOR rate. The interest rate
shown reflects the rate in effect at August 31, 2014. When
a range of rates is disclosed the Fund holds more than one
contract within the same tranche at varying rates.
Page 3 See Notes to Quarterly Portfolio of Investments
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
(MFD)
PORTFOLIO OF INVESTMENTS (CONTINUED)
AUGUST 31, 2014 (UNAUDITED)
(e) Senior Loans generally are subject to mandatory and/or
optional prepayment. As a result, the actual remaining
maturity of Senior Loans may be substantially less than the
stated maturities shown.
(f) Aggregate cost for financial reporting purposes, which
approximates the aggregate cost for federal income tax
purposes. As of August 31, 2014, the aggregate gross
unrealized appreciation for all securities in which there
was an excess of value over tax cost was $20,105,020 and
the aggregate gross unrealized depreciation for all
securities in which there was an excess of tax cost over
value was $1,655,771.
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of August 31,
2014 is as follows (see Note 2A - Portfolio Valuation in the Notes to Quarterly
Portfolio of Investments):
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
INVESTMENTS 8/31/2014 PRICES INPUTS INPUTS
------------------------------------------------ -------------- -------------- ------------ -------------
Common Stocks*.................................. $ 140,043,923 $ 140,043,923 $ -- $ --
Master Limited Partnerships*.................... 13,331,779 13,331,779 -- --
Senior Floating-Rate Loan Interests*............ 47,403,292 -- 47,403,292 --
-------------- ------------- ----------- ------------
Total Investments............................... $ 200,778,994 $ 153,375,702 $47,403,292 $ --
============== ============= =========== ============
*See Portfolio of Investments for country breakout.
All transfers in and out of the Levels during the period are assumed to be
transferred on the last day of the period at their current value. There were no
transfers between Levels at August 31, 2014.
----------------------------------------------------------------------
% OF TOTAL
INDUSTRY CLASSIFICATION INVESTMENTS
----------------------------------------------------------------------
Multi-Utilities 20.0%
Electric Utilities 17.9
Oil, Gas & Consumable Fuels 17.0
Transportation Infrastructure 14.2
Media 6.4
Independent Power and Renewable Electricity Producers 5.6
Real Estate Investment Trusts 4.7
Wireless Telecommunication Services 3.8
Diversified Telecommunication Services 3.5
Health Care Providers & Services 2.9
Energy Equipment & Services 2.4
Construction & Engineering 1.6
--------------------------------------------------------------------
Total 100.0%
=========
Page 4 See Notes to Quarterly Portfolio of Investments
NOTES TO QUARTERLY PORTFOLIO OF INVESTMENTS
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
(MFD)
AUGUST 31, 2014 (UNAUDITED)
1. ORGANIZATION
Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund
(the "Fund") is a non-diversified, closed-end management investment company
organized as a Massachusetts business trust on January 21, 2004 and is
registered with the Securities and Exchange Commission under the Investment
Company Act of 1940, as amended (the "1940 Act"). The Fund trades under the
ticker symbol MFD on the New York Stock Exchange ("NYSE").
2. VALUATION AND INVESTMENT PRACTICES
A. PORTFOLIO VALUATION:
The net asset value ("NAV") of the Common Shares of the Fund is determined daily
as of the close of regular trading on the NYSE, normally 4:00 p.m. Eastern time,
on each day the NYSE is open for trading. If the NYSE closes early on a
valuation day, the NAV is determined as of that time. Domestic debt securities
and foreign securities are priced using data reflecting the earlier closing of
the principal markets for those securities. The NAV per Common Share is
calculated by dividing the value of all assets of the Fund (including accrued
interest and dividends), less all liabilities (including accrued expenses,
dividends declared but unpaid and any borrowings of the Fund) by the total
number of Common Shares outstanding.
The Fund's investments are valued daily at market value or, in absence of market
value with respect to any portfolio securities, at fair value. Market value
prices represent last sale or official closing prices from a national or foreign
exchange (i.e. a regulated market) and are primarily obtained from third party
pricing services. Fair value prices represent any prices not considered market
value prices and are either obtained from a third party pricing service or are
determined by First Trust Advisors L.P.'s ("First Trust" or the "Advisor")
Pricing Committee in accordance with valuation procedures adopted by the Fund's
Board of Trustees, and in accordance with provisions of the 1940 Act.
Investments valued by the Advisor's Pricing Committee are footnoted as such in
the footnotes to the Portfolio of Investments. The Fund's investments are valued
as follows:
Common stocks, master limited partnerships ("MLPs") and other equity
securities listed on any national or foreign exchange (excluding The
NASDAQ(R) Stock Market LLC ("NASDAQ") and the London Stock Exchange
Alternative Investment Market ("AIM")) are valued at the last sale price
on the exchange on which they are principally traded or, for NASDAQ and
AIM securities, the official closing price. Securities traded on more than
one securities exchange are valued at the last sale price or official
closing price, as applicable, at the close of the securities exchange
representing the principal market for such securities.
Securities traded in an over-the-counter market are fair valued at the
mean of their most recent bid and asked price, if available, and otherwise
at their closing bid price.
Short-term investments that mature in less than 60 days when purchased are
fair valued at amortized cost.
Certain securities may not be able to be priced by pre-established pricing
methods. Such securities may be valued by the Fund's Board of Trustees or its
delegate at fair value. These securities generally include, but are not limited
to, restricted securities (securities which may not be publicly sold without
registration under the Securities Act of 1933, as amended) for which a pricing
service is unable to provide a market price; securities whose trading has been
formally suspended; a security whose market or fair value price is not available
from a pre-established pricing source; a security with respect to which an event
has occurred that is likely to materially affect the value of the security after
the market has closed but before the calculation of the Fund's NAV or make it
difficult or impossible to obtain a reliable market quotation; and a security
whose price, as provided by the pricing service, does not reflect the security's
"fair value." As a general principle, the current "fair value" of a security
would appear to be the amount which the owner might reasonably expect to receive
for the security upon its current sale. When fair value prices are used,
generally they will differ from market quotations or official closing prices on
the applicable exchanges. A variety of factors may be considered in determining
the fair value of such securities, including, but not limited to, the following:
1) the type of security;
2) the size of the holding;
3) the initial cost of the security;
4) transactions in comparable securities;
5) price quotes from dealers and/or pricing services;
6) relationships among various securities;
7) information obtained by contacting the issuer, analysts, or the
appropriate stock exchange;
8) an analysis of the issuer's financial statements; and
9) the existence of merger proposals or tender offers that might
affect the value of the security.
If the securities in question are foreign securities, the following
additional information may be considered:
1) the value of similar foreign securities traded on other foreign
markets;
Page 5
NOTES TO QUARTERLY PORTFOLIO OF INVESTMENTS (CONTINUED)
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
(MFD)
AUGUST 31, 2014 (UNAUDITED)
2) ADR trading of similar securities;
3) closed-end fund trading of similar securities;
4) foreign currency exchange activity;
5) the trading prices of financial products that are tied to baskets
of foreign securities;
6) factors relating to the event that precipitated the pricing
problem;
7) whether the event is likely to recur; and
8) whether the effects of the event are isolated or whether they
affect entire markets, countries or regions.
Foreign securities traded outside the United States are generally valued as of
the time their trading is complete, which is usually different from the close of
the NYSE. Occasionally, events affecting the value of such securities may occur
between such times and the close of the NYSE that will not always be reflected
in the computation of the value of such securities. If events affecting the
value of such securities occur during such period, these securities will be
valued at their fair value according to procedures adopted by the Fund's Board
of Trustees (see above). For certain foreign equity securities, a third party
pricing service may be utilized to determine fair value. All securities and
other assets of the Fund initially expressed in foreign currencies will be
converted to U.S. dollars using exchange rates in effect at the time of
valuation.
The Senior Floating-Rate Loan interests ("Senior Loans")(1) in which the Fund
invests are not listed on any securities exchange or board of trade. Senior
Loans are typically bought and sold by institutional investors in individually
negotiated private transactions that function in many respects like an
over-the-counter secondary market, although typically no formal market-makers
exist. This market, while having grown substantially since its inception,
generally has fewer trades and less liquidity than the secondary market for
other types of securities. Some Senior Loans have few or no trades, or trade
infrequently, and information regarding a specific Senior Loan may not be widely
available or may be incomplete. Accordingly, determinations of the value of
Senior Loans may be based on infrequent and dated information. Because there is
less reliable, objective data available, elements of judgment may play a greater
role in valuation of Senior Loans than for other types of securities. Typically,
Senior Loans are fair valued using information provided by a third party pricing
service. The third party pricing service primarily uses over-the-counter pricing
from dealer runs and broker quotes from indicative sheets to value the Senior
Loans. If the pricing service cannot or does not provide a valuation for a
particular Senior Loan or such valuation is deemed unreliable, First Trust may
value such Senior Loan at a fair value according to procedures adopted by the
Fund's Board of Trustees, and in accordance with the provisions of the 1940 Act.
Fair valuation of a Senior Loan is based on the consideration of all available
information, including, but not limited to the following:
1) the fundamental business data relating to the issuer;
2) an evaluation of the forces which influence the market in which
these securities are purchased and sold;
3) the type, size and cost of the security;
4) the financial statements of the issuer;
5) the credit quality and cash flow of the issuer, based on the
sub-advisor's or external analysis;
6) the information as to any transactions in or offers for the
security;
7) the price and extent of public trading in similar securities (or
equity securities) of the issuer/borrower, or comparable
companies;
8) the coupon payments;
9) the quality, value and salability of collateral, if any, securing
the security;
10) the business prospects of the issuer, including any ability to
obtain money or resources from a parent or affiliate and an
assessment of the issuer's management;
11) the prospects for the issuer's industry, and multiples (of earnings
and/or cash flows) being paid for similar businesses in that
industry;
12) issuer's competitive position within the industry;
13) issuer's ability to access additional liquidity through public
and/or private markets; and
14) other relevant factors.
The Fund is subject to fair value accounting standards that define fair value,
establish the framework for measuring fair value and provide a three-level
hierarchy for fair valuation based upon the inputs to the valuation as of the
measurement date. The three levels of the fair value hierarchy are as follows:
o Level 1 - Level 1 inputs are quoted prices in active markets for
identical investments. An active market is a market in which
transactions for the investment occur with sufficient frequency
and volume to provide pricing information on an ongoing basis.
o Level 2 - Level 2 inputs are observable inputs, either directly or
indirectly, and include the following:
o Quoted prices for similar investments in active markets.
---------------------------------
(1) The terms "security" and "securities" used throughout the Notes to Quarterly
Portfolio of Investments include Senior Loans.
Page 6
NOTES TO QUARTERLY PORTFOLIO OF INVESTMENTS (CONTINUED)
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
(MFD)
AUGUST 31, 2014 (UNAUDITED)
o Quoted prices for identical or similar investments in markets
that are non-active. A non-active market is a market where
there are few transactions for the investment, the prices are
not current, or price quotations vary substantially either over
time or among market makers, or in which little information is
released publicly
o Inputs other than quoted prices that are observable for the
investment (for example, interest rates and yield curves
observable at commonly quoted intervals, volatilities,
prepayment speeds, loss severities, credit risks, and default
rates).
o Inputs that are derived principally from or corroborated by
observable market data by correlation or other means.
o Level 3 - Level 3 inputs are unobservable inputs. Unobservable
inputs may reflect the reporting entity's own assumptions about
the assumptions that market participants would use in pricing
the investment.
The inputs or methodology used for valuing investments are not necessarily an
indication of the risk associated with investing in those investments. A summary
of the inputs used to value the Fund's investments as of August 31, 2014, is
included with the Fund's Portfolio of Investments.
B. SECURITIES TRANSACTIONS AND INVESTMENT INCOME:
Securities transactions are recorded as of the trade date. Realized gains and
losses from securities transactions are recorded on the identified cost basis.
Securities purchased or sold on a when-issued, delayed-delivery or forward
purchase commitment basis may have extended settlement periods. The value of the
security so purchased is subject to market fluctuations during this period. Due
to the nature of the Senior Loan market, the actual settlement date may not be
certain at the time of purchase or sale for some of the Senior Loans. Interest
income on such Senior Loans is not accrued until settlement date. The Fund
maintains liquid assets with a current value at least equal to the amount of its
when-issued, delayed-delivery or forward purchase commitments. At August 31,
2014, the Fund had no when-issued, delayed-delivery or forward purchase
commitments.
C. UNFUNDED LOAN COMMITMENTS:
The Fund may enter into certain credit agreements, all or a portion of which may
be unfunded. The Fund is obligated to fund these loan commitments at the
borrower's discretion. The Fund did not have any unfunded delayed draw loan
commitments as of August 31, 2014.
D. FOREIGN CURRENCY:
The books and records of the Fund are maintained in U.S. dollars. Foreign
currencies, investments and other assets and liabilities are translated into
U.S. dollars at the exchange rates prevailing at the end of the period.
Purchases and sales of investments and items of income and expense are
translated on the respective dates of such transactions.
Page 7
ITEM 2. CONTROLS AND PROCEDURES.
(a) The registrant's principal executive and principal financial officers, or
persons performing similar functions, have concluded that the
registrant's disclosure controls and procedures (as defined in Rule
30a-3(c) under the Investment Company Act of 1940, as amended (the "1940
Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days
of the filing date of the report that includes the disclosure required by
this paragraph, based on their evaluation of these controls and
procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR
270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities
Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).
(b) There were no changes in the registrant's internal control over financial
reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR
270.30a-3(d)) that occurred during the registrant's last fiscal quarter
that have materially affected, or are reasonably likely to materially
affect, the registrant's internal control over financial reporting.
ITEM 3. EXHIBITS.
Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of
the Sarbanes-Oxley Act of 2002 are attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Macquarie/First Trust Global Infrastructure/Utilities
Dividend & Income Fund
------------------------------------------------------------
By (Signature and Title)* /s/ Mark R. Bradley
----------------------------------------
Mark R. Bradley
President and Chief Executive Officer
(principal executive officer)
Date: October 24, 2014
---------------------
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By (Signature and Title)* /s/ Mark R. Bradley
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Mark R. Bradley
President and Chief Executive Officer
(principal executive officer)
Date: October 24, 2014
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By (Signature and Title)* /s/ James M. Dykas
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James M. Dykas
Treasurer, Chief Financial Officer and
Chief Accounting Officer
(principal financial officer)
Date: October 24, 2014
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*Print the name and title of each signing officer under his or her signature.