Closed-End Fund Activism: How to Level the Playing Field
Author: Kenneth E. Burdon.
Source: Volume 57, Number 03, February 1 2024 , pp.25-36(12)
Abstract:
The dramatic increase in the scope, tone, tactics, goals and impacts of closed-end fund shareholder activism is strangling an important investment product for middle-class retail investors, including retirees. In this article, the author discusses areas where either Congress or the SEC can act to protect retail closed-end fund investors, including by passing H.R. 2627, The Increasing Investor Opportunities Act, or through public guidance and rulemaking.Keywords: Keywords: Combating Abusive Activism; Investment Company Act; Saba Capital Management, L.P.; 12(d)(1) Loophole; Protecting Investors Report; Rule 17d-1
Affiliations:
1: Skadden, Arps, Slate, Meagher & Flom LLP.