1. |
The following replaces the second to last paragraph in the Shareholder Letter on page 4 of the Semi-Annual Report.
|
2. |
The following replaces the sub-section titled “Ratios and Supplemental Data” presented in the section titled “Financial Highlights” for the Clough Global Dividend and Income Fund on page 33 of the Semi-Annual Report.
|
RATIOS AND SUPPLEMENTAL DATA:
|
||||||||||||||||||||||||||||
Net assets attributable to common shares, end of period (000s)
|
$
|
149,210
|
$
|
143,319
|
$
|
162,651
|
$
|
176,968
|
$
|
182,737
|
$
|
181,309
|
$
|
170,120
|
||||||||||||||
Ratios to average net assets attributable to common shareholders:
|
||||||||||||||||||||||||||||
Total expenses
|
2.65
|
%(4)
|
3.65
|
%
|
3.95
|
%
|
3.25
|
%(4)
|
3.34
|
%
|
3.24
|
%
|
3.05
|
%
|
||||||||||||||
Total expenses excluding interest expense and dividends on short sales expense
|
1.72
|
%(4)
|
2.09
|
%
|
2.17
|
%
|
2.00
|
%(4)
|
1.94
|
%
|
1.93
|
%
|
1.80
|
%
|
||||||||||||||
Net investment income/(loss)
|
1.72
|
%(4)
|
(0.08
|
)%
|
(1.58
|
)%
|
(1.15
|
)%(4)
|
(1.47
|
)%
|
(0.04
|
)%
|
1.61
|
%
|
||||||||||||||
Portfolio turnover rate(5)
|
95
|
%
|
205
|
%
|
172
|
%
|
110
|
%
|
179
|
%
|
250
|
%
|
192
|
%
|
3. |
The following replaces the sub-section titled “Ratios and Supplemental Data” presented in the section titled “Financial Highlights” for the Clough Global Equity Fund on page 34 of the Semi-Annual Report.
|
RATIOS AND SUPPLEMENTAL DATA:
|
||||||||||||||||||||||||||||
Net assets attributable to common shares, end of period (000s)
|
$
|
241,621
|
$
|
224,187
|
$
|
266,576
|
$
|
293,829
|
$
|
305,958
|
$
|
296,710
|
$
|
277,061
|
||||||||||||||
Ratios to average net assets attributable to common shareholders:
|
||||||||||||||||||||||||||||
Total expenses
|
2.98
|
%(4)
|
4.21
|
%
|
4.56
|
%
|
3.68
|
%(4)
|
3.76
|
%
|
3.67
|
%
|
3.43
|
%
|
||||||||||||||
Total expenses excluding interest expense and dividends on short sales expense
|
2.08
|
%(4)
|
2.59
|
%
|
2.77
|
%
|
2.42
|
%(4)
|
2.36
|
%
|
2.35
|
%
|
2.18
|
%
|
||||||||||||||
Net investment income/(loss)
|
0.13
|
%(4)
|
(1.70
|
)%
|
(2.73
|
)%
|
(1.68
|
)%(4)
|
(1.95
|
)%
|
(0.37
|
)%
|
1.34
|
%
|
||||||||||||||
Portfolio turnover rate(5)
|
93
|
%
|
182
|
%
|
154
|
%
|
102
|
%
|
166
|
%
|
250
|
%
|
183
|
%
|
4. |
The following replaces the sub-section titled “Ratios and Supplemental Data” presented in the section titled “Financial Highlights” for the Clough Global Opportunities Fund on page 35 of the Semi-Annual Report.
|
RATIOS AND SUPPLEMENTAL DATA:
|
||||||||||||||||||||||||||||
Net assets attributable to common shares, end of period (000s)
|
$
|
592,539
|
$
|
570,931
|
$
|
666,588
|
$
|
729,855
|
$
|
759,084
|
$
|
757,452
|
$
|
716,213
|
||||||||||||||
Ratios to average net assets attributable to common shareholders:
|
||||||||||||||||||||||||||||
Total expenses
|
3.16
|
%(4)
|
4.32
|
%
|
4.62
|
%
|
3.86
|
%(4)
|
3.97
|
%
|
3.86
|
%
|
3.61
|
%
|
||||||||||||||
Total expenses excluding interest expense and dividends on short sales expense
|
2.22
|
%(4)
|
2.73
|
%
|
2.82
|
%
|
2.60
|
%(4)
|
2.55
|
%
|
2.52
|
%
|
2.35
|
%
|
||||||||||||||
Net investment income/(loss)
|
0.06
|
%(4)
|
(1.33
|
)%
|
(2.47
|
)%
|
(1.76
|
)%(4)
|
(2.15
|
)%
|
(0.64
|
)%
|
1.04
|
%
|
||||||||||||||
Portfolio turnover rate(5)
|
105
|
%
|
191
|
%
|
176
|
%
|
111
|
%
|
178
|
%
|
241
|
%
|
193
|
%
|
By:
|
/s/ Edmund J. Burke
|
|
Edmund J. Burke
|
||
President/Principal Executive Officer
|
||
Date:
|
July 25, 2017
|
By:
|
/s/ Edmund J. Burke
|
|
Edmund J. Burke
|
||
President/Principal Executive Officer
|
||
Date:
|
July 25, 2017
|
|
By:
|
/s/ Jeremy O. May
|
|
Jeremy O. May
|
||
Treasurer/Principal Financial Officer
|
||
Date:
|
July 25, 2017
|
1. |
I have reviewed this report on Form N-CSR of the Clough Global Equity Fund;
|
2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3. |
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;
|
4. |
The Registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:
|
a. |
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b. |
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c. |
Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
|
d. |
Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and
|
5. |
The Registrant’s other certifying officer and I have disclosed to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions);
|
a. |
all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and
|
b. |
any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.
|
By:
|
/s/ Edmund J. Burke
|
|
Edmund J. Burke
|
||
President/Principal Executive Officer
|
||
Date:
|
July 25, 2017
|
1. |
I have reviewed this report on Form N-CSR of the Clough Global Equity Fund;
|
2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3. |
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this report;
|
4. |
The Registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:
|
a. |
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b. |
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c. |
Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
|
d. |
Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and
|
5. |
The Registrant’s other certifying officer and I have disclosed to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions);
|
a. |
all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and
|
b. |
any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.
|
By:
|
/s/ Jeremy O. May
|
|
Jeremy O. May
|
||
Treasurer/Principal Financial Officer
|
||
Date:
|
July 25, 2017
|
(i) |
the Report fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and
|
(ii) |
the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
Dated:
|
July 25, 2017
|
|
By:
|
/s/ Edmund J. Burke
|
|
Edmund J. Burke
|
||
President/Principal Executive Officer
|
(i) |
the Report fully complies with the requirements of Section 13(a) or Section 15(d), as applicable of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and
|
(ii) |
the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
Dated:
|
July 25, 2017
|
|
By:
|
/s/ Jeremy O. May
|
|
Jeremy O. May
|
||
Treasurer/Principal Financial Officer
|