About Saba

Saba is an experienced investor in closed-end funds.

Key Facts About Saba

Saba is the world’s largest single investor in closed-end funds, managing a $5.8 billion portfolio that is invested across more than 200 closed-end funds.

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Our closed-end fund investment strategy is anchored in protecting shareholder rights, pursuing changes that will return discounted closed-end funds to their full NAV and creating long-term value for shareholders through lower fees and better management.

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Our own funds serve as examples of best-in-class corporate governance in the closed-end fund industry. We also have a demonstrated record of advocating for shareholder rights at other funds.

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Saba’s Track Record in Closed-End Funds

Saba Capital Income & Opportunities Fund (NYSE: BRW)

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Non-staggered board, plurality vote standard, equal voting rights.

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Saba Capital Income & Opportunities Fund II (NYSE: SABA)

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Approved share repurchase program and 1-for-2 reverse stock split, and intends to de-stagger board, subject to shareholder approval. Link.

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Plurality vote standard and equal voting rights.

Eaton Vance Senior Floating-Rate Trust (NYSE: EFR)

Eaton Vance Floating-Rate Income Trust (NYSE: EFT)

Eaton Vance Senior Income Trust (NYSE: EVF)

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Saba entered standstill upon implementation of a long-term discount management plan. Link.

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Improved average trading discount to NAV from -12% when Saba filed its 13D in 2020 to +1.43% premium today.1

Salient Midstream & MLP Fund (NYSE: SMM)

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Reached an agreement to support the fund’s reorganization into a lower fee open-end mutual fund.

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Secured distribution paid to all shareholders based on a $300,000 payment by the fund’s investment advisor. Link.

Eaton Vance & Salient: for illustrative purposes only.

1 Bloomberg. Data as of 05/10/2024 close.