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Guggenheim Series 894 registers units from three portfolios of CEFs
By Tali David
Minneapolis, March 20 - Guggenheim Defined Portfolios, Series 894 has registered units of its Guggenheim Growth & Income Strategy Portfolio of CEFs, Series 2, Guggenheim Discount Opportunity Strategy Portfolio of CEFs, Series 2 and Guggenheim Tax-Exempt Strategy Portfolio of CEFs, Series 2, according to an S-6 filed with the Securities and Exchange Commission.
The depositor is Lisle, Ill.-based Guggenheim Funds Distributors, Inc.
The Growth & Income trust will seek to provide current income and the potential for capital appreciation by investing in common shares of closed-end investment companies that have attractive discount valuations and stable distribution histories.
The Discount Opportunity trust will seek to provide capital appreciation by selecting closed-end funds that have the potential to narrow the gap between their current Net Asset Value discount and their historical NAV discount.
The Tax-Exempt trust will seek to provide current income that is exempt from federal income taxes and the potential for capital appreciation. The trust will contain common shares of closed-end investment companies, all of which contain portfolios that are concentrated in tax-exempt municipal bonds.
The units will have a public offering price of $10 per unit. Each unit carries a maximum sales fee of 2.95%, which is comprised of an initial sales fee of 1%, a deferred sales fee of 1.45% and a creation and development fee of 0.5%. Sales charge reductions of up to 1.5% of the public offering price are available based on the amount of the investment.
The trusts will terminate in about 15 months.
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