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, 2012
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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
PORTFOLIO OF INVESTMENTS
AUGUST 31, 2012 (UNAUDITED)
SHARES DESCRIPTION VALUE
--------------- ---------------------------------------------------------------------- --------------
COMMON STOCKS - 79.6%
AUSTRALIA - 16.6%
599,316 Asciano Group (a) .................................................... $ 2,773,952
667,695 Australian Infrastructure Fund (a).................................... 2,124,682
1,506,589 SP AusNet (a) ........................................................ 1,642,148
2,199,541 Spark Infrastructure Group (a) (b).................................... 3,681,393
584,998 Sydney Airport (a) ................................................... 1,964,277
1,645,215 Transurban Group (a) ................................................. 10,283,551
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22,470,003
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CANADA - 7.7%
167,685 EnerCare, Inc. (a) ................................................... 1,488,454
195,571 Northland Power, Inc. (a) ............................................ 3,664,414
91,033 Pembina Pipeline Corp. (a) ........................................... 2,467,565
62,837 TransCanada Corp. (a) ................................................ 2,830,295
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10,450,728
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FRANCE - 9.4%
20,823 Aeroports de Paris (a) ............................................... 1,650,303
93,482 Eutelsat Communications S.A........................................... 2,873,692
179,766 GDF Suez (a) ......................................................... 4,426,091
84,570 Vinci S.A. (a) ....................................................... 3,679,408
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12,629,494
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GERMANY - 5.0%
84,685 E.On AG (a) .......................................................... 1,947,657
61,252 Fraport AG Frankfurt Airport Services Worldwide (a) .................. 3,412,605
56,358 Hamburger Hafen Und Logistik AG (a) .................................. 1,373,790
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6,734,052
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ITALY - 3.9%
379,111 Atlantia SpA (a) ..................................................... 5,326,361
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JAPAN - 2.8%
451,000 Osaka Gas Co., Ltd. (a) .............................................. 1,970,011
41,900 West Japan Railway Co. (a) ........................................... 1,832,907
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3,802,918
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SPAIN - 7.9%
513,306 Abertis Infraestructuras S.A. (a) .................................... 6,969,634
198,168 Enagas S.A. (a)....................................................... 3,680,256
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10,649,890
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SWITZERLAND - 1.5%
5,175 Flughafen Zuerich AG (a) ............................................. 1,992,052
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UNITED KINGDOM - 17.7%
548,933 Centrica plc (a) ..................................................... 2,847,604
842,822 National Grid plc (a) ................................................ 9,147,143
135,441 Scottish and Southern Energy plc (a) ................................. 2,942,032
189,852 Severn Trent plc (a) ................................................. 5,218,232
335,853 United Utilities Group plc (a) ....................................... 3,780,999
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23,936,010
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See Notes to Quarterly Portfolio of Investments Page 1
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
AUGUST 31, 2012 (UNAUDITED)
SHARES/
UNITS DESCRIPTION VALUE
--------------- ---------------------------------------------------------------------- --------------
COMMON STOCKS - (CONTINUED)
UNITED STATES - 7.1%
61,200 PG&E Corp. (a) ....................................................... $ 2,656,692
36,700 Southern Co. (a) ..................................................... 1,663,611
61,100 Spectra Energy Corp. (a) ............................................. 1,726,686
108,000 Williams Cos., Inc. (a) .............................................. 3,485,160
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9,532,149
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TOTAL COMMON STOCKS ................................................ 107,523,657
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(Cost $101,487,864)
MASTER LIMITED PARTNERSHIPS - 15.6%
UNITED STATES - 15.6%
151,830 El Paso Pipeline Partners, L.P. (a) ................................ 5,494,728
94,500 Enbridge Energy Partners, L.P. (a) ................................. 2,783,970
34,637 Energy Transfer Equity, L.P. (a) ................................... 1,522,296
81,777 Enterprise Products Partners, L.P. (a) ............................. 4,366,892
82,181 Magellan Midstream Partners, L.P. (a) .............................. 6,818,557
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TOTAL MASTER LIMITED PARTNERSHIPS .................................. 20,986,443
(Cost $16,073,719) --------------
PRINCIPAL RATINGS (c) STATED
VALUE DESCRIPTION MOODY'S S&P RATE (d) MATURITY (e) VALUE
--------------- ----------------------------- --------------- ---------- ------------ --------------
SENIOR FLOATING-RATE LOAN INTERESTS - 35.6%
ALTERNATIVE CARRIERS - 3.2%
$ 1,392,947 Intelsat Jackson Holdings
S.A., Term Loan B ....... B1 BB- 5.25% 04/02/18 1,397,474
2,900,000 Level 3 Financing, Inc., Term
Loan B2 ................. Ba3 B+ 5.75% 09/01/18 2,907,656
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4,305,130
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CABLE & SATELLITE - 8.1%
2,969,862 Bresnan Broadband Holdings,
LLC, Term Loan B ........ Ba3 BB+ 4.50% 12/14/17 2,977,286
2,992,500 Cequel Communications
Holdings I, LLC, Term
Loan B .................. Ba2 BB- 4.00% 02/14/19 2,986,276
897,068 Charter Communications
Operating, LLC, Term Loan
C ....................... Ba1 BB+ 3.49% 09/06/16 894,969
1,995,000 Charter Communications
Operating, LLC, Term Loan
D ....................... Ba1 BB+ 4.00% 05/15/19 1,992,825
164,118 UPC Broadband Holdings B.V.,
Term Loan T ............. Ba3 BB- 3.75% 12/31/16 162,580
1,324,144 UPC Broadband Holdings B.V.,
Term Loan X ............. Ba3 B+ 3.75% 12/31/17 1,304,282
Page 2 See Notes to Quarterly Portfolio of Investments
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
AUGUST 31, 2012 (UNAUDITED)
PRINCIPAL RATINGS (c) STATED
VALUE DESCRIPTION MOODY'S S&P RATE (d) MATURITY (e) VALUE
--------------- ----------------------------- --------------- ---------- ------------ --------------
SENIOR FLOATING-RATE LOAN INTERESTS - (CONTINUED)
CABLE & SATELLITE - (CONTINUED)
$ 600,000 Wide Open West Finance, LLC,
Term Loan ............... B1 B 6.25% 07/17/18 $ 599,628
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10,917,846
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ELECTRIC UTILITIES - 1.2%
1,665,315 GenOn Energy, Inc., Term Loan B1 B+ 6.00% 12/03/17 1,678,321
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ENVIRONMENTAL & FACILITIES SERVICES - 1.3%
1,882,143 EnergySolutions, LLC, Term
Loan .................... B1 BB- 6.25% 08/13/16 1,771,567
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HEALTH CARE FACILITIES - 9.0%
3,334,575 CHS/Community Health Systems,
Inc., Extended Term Loan Ba3 BB 3.92%-3.96% 01/25/17 3,336,943
3,497,027 HCA, Inc., Term Loan B-2 .... Ba3 BB 3.71% 03/31/17 3,447,474
469,758 HCA, Inc., Term Loan B-3 .... Ba3 BB 3.48% 05/01/18 462,345
2,962,500 IASIS Healthcare Corp., Term
Loan B .................. Ba3 B 5.00% 05/03/18 2,915,604
1,955,447 Vanguard Health Systems,
Inc., Term Loan B ....... Ba2 BB- 5.00% 01/29/16 1,964,012
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12,126,378
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INDEPENDENT POWER PRODUCERS & ENERGY TRADERS - 6.7%
2,466,856 AES Corp., Term Loan B ...... Ba1 BB+ 4.25% 06/01/18 2,473,023
1,473,788 Calpine Corp., Term
Loan B1 ................. B1 B+ 4.50% 04/01/18 1,475,822
495,000 Calpine Corp., Term
Loan B2 ................. B1 B+ 4.50% 04/01/18 495,683
1,589,244 Dynegy, Inc., Term Loan B ... B2 B 9.25% 08/05/16 1,663,604
1,000,000 EquiPower Resources Holdings,
LLC, Term Loan B ........ NR NR 6.50% 11/23/18 1,002,500
1,975,025 NRG Energy, Inc., Term Loan B Baa3 BB+ 4.00% 07/01/18 1,977,040
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9,087,672
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OIL & GAS STORAGE & TRANSPORTATION - 0.7%
900,000 Energy Transfer Equity, L.P.,
Term Loan B ............. Ba2 BB 3.75% 03/26/17 889,074
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WIRELESS TELECOMMUNICATION SERVICES - 5.4%
3,283,500 Crown Castle Operating Co.,
Term Loan B ............. Ba3 B+ 4.00% 01/31/19 3,279,396
1,000,000 Windstream Corp., Term Loan
B-3 ..................... Baa3 BB+ 4.00% 08/08/19 1,000,310
See Notes to Quarterly Portfolio of Investments Page 3
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
AUGUST 31, 2012 (UNAUDITED)
PRINCIPAL RATINGS (c) STATED
VALUE DESCRIPTION MOODY'S S&P RATE (d) MATURITY (e) VALUE
--------------- ----------------------------- --------------- ---------- ------------ --------------
SENIOR FLOATING-RATE LOAN INTERESTS - (CONTINUED)
WIRELESS TELECOMMUNICATION SERVICES - (CONTINUED)
$ 3,000,000 Zayo Group LLC, Term Loan ... B1 B 7.13% 07/02/19 $ 3,044,070
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7,323,776
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TOTAL SENIOR FLOATING-RATE LOAN INTERESTS .............................. 48,099,764
(Cost $47,835,989) --------------
TOTAL INVESTMENTS - 130.8% ............................................. 176,609,864
(Cost $165,397,572) (f)
OUTSTANDING LOANS - (35.2%) ............................................ (47,500,000)
NET OTHER ASSETS AND LIABILITIES - 4.4% ................................ 5,952,508
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NET ASSETS - 100.0% .................................................... $ 135,062,372
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(a) All or a portion of this security is available to serve as
collateral on the outstanding loan.
(b) 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.
(c) Ratings below Baa3 by Moody's Investors Service, Inc. or BBB- by
Standard & Poor's Ratings Group are considered to be below
investment grade.
(d) 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 base LIBOR rate. The interest rate shown
reflects the rate in effect at September 30, 2012.
(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,
2012, the aggregate gross unrealized appreciation for all securities
in which there was an excess of value over tax cost was $15,517,333
and the aggregate gross unrealized depreciation for all securities
in which there was an excess of tax cost over value was $4,305,041.
NR Not Rated
Page 4 See Notes to Quarterly Portfolio of Investments
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
AUGUST 31, 2012 (UNAUDITED)
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of August 31,
2012 is as follows (see Note A - Portfolio Valuation in the Notes to Quarterly
Portfolio of Investments):
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
8/31/2012 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Common Stocks*................................. $ 107,523,657 $ 107,523,657 $ -- $ --
Master Limited Partnerships*................... 20,986,443 20,986,443 -- --
Senior Floating-Rate Loan Interests*........... 48,099,764 -- 48,099,764 --
-------------- -------------- -------------- --------------
TOTAL INVESTMENTS.............................. $ 176,609,864 $ 128,510,100 $ 48,099,764 $ --
============== ============== ============== ==============
*See Portfolio of Investments for industry or 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. As of August
31, 2012, the Fund transferred common stocks valued at $75,219,637 from Level 2
to Level 1 of the fair value hierarchy. The common stocks that transferred from
Level 2 to Level 1 did so as a result of foreign equities that were valued based
on fair valued prices using a factor provided by a pricing service due to the
change in value between the foreign markets close and the NYSE close on November
30, 2011 exceeding a certain threshold that are now being priced based on quoted
prices. See Note A - Portfolio Valuation in the Notes to Quarterly Portfolio of
Investments.
% OF TOTAL
INDUSTRY CLASSIFICATION(1) INVESTMENTS
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Transportation Infrastructure 19.9%
Oil, Gas & Consumable Fuels 17.8
Multi-Utilities 11.9
Electric Utilities 5.6
Water Utilities 5.1
Gas Utilities 3.2
Road & Rail 2.6
Construction & Engineering 2.1
Independent Power Producers & Energy Traders 2.1
Media 1.6
Diversified Consumer Services 0.9
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Total 72.8%
==========
(1) Represents the industry classification breakdown for the Core Component of
the portfolio, which includes the Common Stock and Master Limited Partnership
securities. It excludes the Senior Floating-Rate Loan Interest component of the
portfolio, which makes up the remaining 27.2% of the portfolio and is all U.S.
dollar denominated.
See Notes to Quarterly Portfolio of Investments Page 5
NOTES TO QUARTERLY PORTFOLIO OF INVESTMENTS
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
AUGUST 31, 2012 (UNAUDITED)
VALUATION AND INVESTMENT PRACTICES
A. PORTFOLIO VALUATION:
The net asset value ("NAV") of the Common Shares of Macquarie/First Trust Global
Infrastructure/Utilities Dividend & Income Fund (the "Fund") is determined daily
as of the close of regular trading on the New York Stock Exchange ("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 in accordance with valuation procedures
adopted by the Fund's Board of Trustees, and in accordance with provisions of
the Investment Company Act of 1940, as amended (the "1940 Act"). The following
securities, for which accurate and reliable market quotations are readily
available, will be valued as follows:
Common stocks, Master Limited Partnerships ("MLPs") and other securities
listed on any national or foreign exchange (excluding the NASDAQ National
Market ("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. If there are no transactions on the valuation
day, the securities are valued at the mean between the most recent bid and
asked prices.
Securities listed on the NASDAQ or the AIM are valued at the official
closing price. If there is no official closing price on the valuation day,
the securities are valued at the mean between the most recent bid and
asked prices.
Securities traded in the over-the-counter market are valued at their
closing bid prices.
Short-term investments that mature in less than 60 days when purchased are
valued at amortized cost.
All market quotations used in valuing the Fund's securities will be obtained
from a third party pricing service. If no quotation is received from a pricing
service, attempts will be made to obtain one or more broker quotes for the
security. In the event the pricing service does not provide a valuation, broker
quotations are not readily available, or the valuations received are deemed
unreliable, the Fund's Board of Trustees has designated First Trust Advisors
L.P. ("First Trust") to use a fair value method to value the Fund's securities.
Additionally, if events occur after the close of the principal markets for
certain securities (e.g., domestic debt and foreign securities) that could
materially affect the Fund's NAV, First Trust will use a fair value method to
value the Fund's securities. The use of fair value pricing is governed by
valuation procedures adopted by the Fund's Board of Trustees, and in accordance
with the provisions of the 1940 Act. As a general principle, the fair value of a
security is the amount which the Fund might reasonably expect to receive for the
security upon its current sale. However, in light of the judgment involved in
fair valuations, there can be no assurance that a fair value assigned to a
particular security will be the amount which the Fund might be able to receive
upon its current sale. Fair valuation of common stocks and other equity
securities will be based on the consideration of all available information,
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;
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.
Page 6
NOTES TO QUARTERLY PORTFOLIO OF INVESTMENTS - (CONTINUED)
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
AUGUST 31, 2012 (UNAUDITED)
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 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.
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.
---------------------------------
1 The terms "security" and "securities" used throughout the Notes to Quarterly
Portfolio of Investments include Senior Loans.
Page 7
NOTES TO QUARTERLY PORTFOLIO OF INVESTMENTS - (CONTINUED)
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
AUGUST 31, 2012 (UNAUDITED)
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, 2012, is
included with the Fund's Portfolio of Investments.
B. SECURITIES TRANSACTIONS:
Securities transactions are recorded as of the trade date. Realized gains and
losses from securities transactions are recorded on the identified cost basis.
Distributions received from a Fund's investments in MLPs generally are comprised
of return of capital from the MLP to the extent of the cost basis of such MLP
investments.
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. 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.
C. UNFUNDED LOAN COMMITMENTS:
The Fund may enter into certain loan commitments, 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 unfunded delayed draw loan
commitments as of August 31, 2012.
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 8
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
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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 23, 2012
----------------------
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
------------------------------------------------------
Mark R. Bradley
President and Chief Executive Officer
(principal executive officer)
Date October 23, 2012
----------------------
By (Signature and Title)* /s/ James M. Dykas
------------------------------------------------------
James M. Dykas
Treasurer, Chief Financial Officer and
Chief Accounting Officer
(principal financial officer)
Date October 23, 2012
----------------------
*Print the name and title of each signing officer under his or her signature.