Current Closed End Fund Activist Campaigns
| Fund | Investor | Notes | Latest 13D | Percent Ownership |
|---|---|---|---|---|
| Federated Premier Intermediate Municipal Income Fund | Karpus Management | Switched from 13G to 13D. Submitting proposal for self tender for all outstanding shares at September 2017 Shareholder meeting | 03/21/2017 | 21.03% |
| Putnam Managed Municipal Income Trust | Bulldog Investors, LLC | Nominating two directors, seeking liquidity for preferred shareholders | 03/20/2017 | 7.47% |
| Swiss Helvetia Fund | Bulldog Investors, LLC | Submitting proposals to amend bylaws , and conduct self tender offer. | 03/14/2017 | 7.20% |
| JPMORGAN CHINA REGION FUND | City of London Investment Group, Inc. | Selling Shares per latest filing. Previously had discussions with the Board as a result of proxy ballot and proposals. | 03/02/2017 | 34.70% |
| Franklin LTD Duration Trust | Saba Capital Management, LP | Saba has been selling shares. Nominated three people for board of directors. In January 2017, The fund started a tender offer for 15% of shares. Tender offer expires March 3, 2017 | 02/27/2017 | 13.40% |
| Putnam High Income Securities Fund | Bulldog Investors, LLC | Recently acquired more shares. Sent letter to management to confirm that it will submit proposals for large tender offer, and a fixing of board size with Bulldog representatives | 02/27/2017 | 11.27% |
| Korea Equity Fund | Bulldog Investors, LLC | Expecting liquidation. Acquiring more shares. | 02/23/2017 | 13.43% |
| First Trust/Aberdeen Global Opportunity Income Fund | Karpus Management | Entered into agreement whereby Fund will tender for up to 25% of outstanding shares at 98% of NAV. Activist will tender all of its shares. | 02/15/2017 | 19.42% |
| Credit Suisse Asset Management Income Fund | Saba Capital Management, LP | Believes shares are undervalued. | 02/14/2017 | 11.37% |
| Taiwan Fund Inc | City of London Investment Group, Inc. | Adding shares. Indirectly campaigning for sharebuybacks | 02/14/2017 | 40.60% |
| Clough Global Dividend & Income Fund | Saba Capital Management, LP | Submitted proposal to declassify board, intends to nominate 3 directors. | 02/13/2017 | 17.13% |
| Clough Global Opportunities Fund | Saba Capital Management, LP | Submitted proposal to declassify board, intends to nominate 3 directors. | 02/13/2017 | 8.82% |
| Clough Global Equity Fund | Saba Capital Management, LP | Ongoing discussions with management regarding performance and discount. Expects to nominate directors | 02/10/2017 | 13.65% |
| Madison Strategic Sector Premium Fund | Karpus Management | Submitted proposal to terminate the Investment Advisory Agreement between the Fund and Madison Asset Management, LLC. Previously had filed 13G on 1/11/2017 | 02/08/2017 | 23.66% |
| Madison Covered Call & Equity Strategy Fund | Karpus Management | Submitted proposal to terminate the Investment Advisory Agreement between the Fund and Madison Asset Management, LLC. | 02/08/2017 | 7.21% |
| Pacholder High Yield Fund | Bulldog Investors, LLC | Reached Standstill Agreement on January 23, 2017. Manager will submit a liquidation proposal at annual meeting in May 2017. Management will recommend approval of the proposal. | 01/24/2017 | 11.00% |
| First Trust High Income Long/Short Fund | Saba Capital Management, LP | Standstill agreement as of January 20. Saba withdraws proposal. Fund will tender for 15% of shares prior to June 15, 2017, Saba will tender its shares and vote with management. | 01/23/2017 | 13.06% |
| Neuberger Berman Real Est Securities Inc | Bulldog Investors, LLC | Selling Shares per latest filing. Had previously recommended liquidation. | 01/18/2017 | 7.11% |
| Advent/Claymore Enhanced Growth & Income Fund | Saba Capital Management, LP | No specific plan yet. Believes shares undervalued | 01/11/2017 | 9.86% |
| New Ireland Fund Inc | Karpus Management | Purchased Shares for the Accounts for investment purposes. Reserves right to contact management | 01/06/2017 | 16.12% |
| First Trust Mortgage Income Fund | Sit Investment Associates | No specific plan yet. May engage with management in the future | 12/07/2016 | 35.73% |
| Lazard Global Total Return & Income Fund | Bulldog Investors, LLC | Sold down position slightly. | 11/25/2016 | 8.85% |
| Wells Fargo Multi-Sector Income Fund | Saba Capital Management, LP | Settlement agreement: Board to commence cash tender offer for 15% of shares by May 1, 2017. Managed distribution plan providing a 9% fixed rate distribution. | 11/23/2016 | 14.96% |
| MFS Charter Income Trust | Relative Value Partners Group | Criticized lack of repurchases. Seeking conversion to an open end fund. | 11/08/2016 | 8.56% |
| Taiwan Fund Inc | Lazard Asset Management | Purchased Shares for the Accounts for investment purposes. | 10/11/2016 | 22.04% |
| Deutsche Multi-Market Income Trust | Western Investment LLC | Filed lawsuit related to board dispute, and bylaws. Western funds own 4.1%, Benchmark funds own the rest | 10/07/2016 | 5.20% |
| Deutsche Strategic Income Trust | Western Investment LLC | Filed lawsuit related to board dispute, and bylaws. Western funds own 3.9%, Benchmark funds own 1.2% | 10/07/2016 | 5.10% |
| Virtus Total Return Fund | Bulldog Investors, LLC | Standstill agreement. | 09/28/2016 | 18.41% |
| BlackRock Debt Strategies Fund, Inc. | Saba Capital Management, LP | No specific plan yet. May engage with management in the future | 09/14/2016 | 13.62% |