Phillip Goldstein

Bulldog Investors Responds to Announcement by Voya Prime Rate Trust

Retrieved on:

Monday, November 23, 2020

Consulting, Professional services, Finance, Finance, Money, Investment management, Investment, Investment funds, Net asset value, Closed-end fund, Phillip Goldstein

Bulldog Investors, LLC (Bulldog) today announced that it is shocked and dismayed by the announcement by Voya Prime Rate Trust (NYSE: PPR) (the Fund) of a tender offer for 15% of its outstanding common shares at 99% of net asset value (NAV).

Key Points:

Bulldog Investors, LLC (Bulldog) today announced that it is shocked and dismayed by the announcement by Voya Prime Rate Trust (NYSE: PPR) (the Fund) of a tender offer for 15% of its outstanding common shares at 99% of net asset value (NAV).
At the Funds annual meeting on July 9, 2020, shareholders overwhelmingly voted in favor of a proposal for a self-tender offer for at least 40% of the Funds shares at or close to NAV.
Therefore, Bulldog urges the Trustees to abide by the wishes of the shareholders that elected them by authorizing a tender offer for at least 40% of the Funds outstanding shares.
Bulldog Investors LLC is an SEC-registered investment adviser that manages the Bulldog Investors group of private funds, Special Opportunities Fund, Inc. (NYSE:SPE), a registered closed-end investment company, and separately managed accounts.

The Bulldog-Ancora Group Commences Tender Offer for $40 Million of Shares of Adams Natural Resources Fund

Retrieved on:

Friday, July 10, 2020

Professional services, Finance, Finance, Money, Corporate finance, Economy, Stock market, Phillip Goldstein, Closed-end fund, Tender offer, Security, New York Stock Exchange, Bulldog Investors, Ancora Advisors

The complete terms of the tender offer are set forth in an Offer to Purchase and related materials as filed with the Securities and Exchange Commission and available at www.icommaterials.com/peo .

Key Points:

The complete terms of the tender offer are set forth in an Offer to Purchase and related materials as filed with the Securities and Exchange Commission and available at www.icommaterials.com/peo .
Phillip Goldstein, a managing member of Bulldog, commented: Management previously told shareholders not to tender their shares to us at a 12% discount to NAV.
How will management justify telling shareholders not to tender shares at a 10% discount?
Bulldog Investors is an SEC-registered investment advisor that manages Special Opportunities Fund, Inc. (NYSE:SPE), a registered closed-end investment company, and separately managed accounts.

Eagle Growth and Income Opportunities Fund Provides Update on Status of Liquidation

Retrieved on:

Thursday, July 2, 2020

Finance, Economy, Money, Investment funds, Investors, Money market fund, Hedge fund, Phillip Goldstein

BOSTON, July 02, 2020 (GLOBE NEWSWIRE) -- Eagle Growth and Income Opportunities Fund (the "Fund") (NYSE: EGIF) today provided an update on the status of the Fund's liquidation.

Key Points:

BOSTON, July 02, 2020 (GLOBE NEWSWIRE) -- Eagle Growth and Income Opportunities Fund (the "Fund") (NYSE: EGIF) today provided an update on the status of the Fund's liquidation.
The Fund has sold all of its portfolio holdings and its assets have been invested in a U.S. Treasury money market fund.
The Independent Trustees also negotiated a 50% reduction in the investor support services fee FWCP charged the Fund.
Founded in 1984, Eagle provides an array of fundamental equity and fixed income strategies designed to meet long-term goals of institutional and wealth clients.

Bulldog Investors Plans to Sue BrandywineGLOBAL-Global Income Opportunities Fund

Retrieved on:

Tuesday, June 30, 2020

Professional services, Legal, Finance, New York Stock Exchange, Economy of the United States, Phillip Goldstein

Bulldog Investors, LLC (Bulldog) today announced that it expects to sue BrandywineGLOBAL-Global Income Opportunities Fund (NYSE: BWG) to challenge the validity of a new management agreement with Legg Mason Partners Fund Advisor, LLC.

Key Points:

Bulldog Investors, LLC (Bulldog) today announced that it expects to sue BrandywineGLOBAL-Global Income Opportunities Fund (NYSE: BWG) to challenge the validity of a new management agreement with Legg Mason Partners Fund Advisor, LLC.
Shareholders were required to approve the agreement at a special meeting to be held on June 5, 2020.
If so, any purported approval by shareholders of the agreement after June 5th is invalid.
Bulldog Investors LLC is an SEC-registered investment adviser that manages Special Opportunities Fund, Inc. (NYSE:SPE), a registered closed-end investment company, and separately managed accounts.

The Bulldog-Ancora Group Commences Tender Offer for $70 Million of Shares of Adams Natural Resources Fund

Retrieved on:

Saturday, May 16, 2020

The complete terms of the tender offer are set forth in an Offer to Purchase and related materials as filed with the Securities and Exchange Commission and available at www.icommaterials.com/peo .

Key Points:

The complete terms of the tender offer are set forth in an Offer to Purchase and related materials as filed with the Securities and Exchange Commission and available at www.icommaterials.com/peo .
Phillip Goldstein, a managing member of Bulldog, commented: We have repeatedly asked management to address the discount of PEOs trading price from its net asset value but it has been unwilling to do so.
By significantly increasing our ownership stake through a tender offer, we hope to be in a better position to influence the Board of Directors.
Bulldog Investors is an SEC-registered investment advisor that manages Special Opportunities Fund, Inc. (NYSE:SPE), a registered closed-end investment company, and separately managed accounts.

Bulldog Investors Responds to Adjournment of the Annual Meeting of Stockholders of Vertical Capital Income Fund

Retrieved on:

Tuesday, September 3, 2019

Professional services, Finance, Finance, Money, Investment, Closed-end fund, Phillip Goldstein

Bulldog Investors, LLC (Bulldog) today responded to the adjournment of the annual meeting of stockholders of Vertical Capital Income Fund (NYSE: VCIF) (the Fund), which was scheduled to be held on August 30, 2019.

Key Points:

Bulldog Investors, LLC (Bulldog) today responded to the adjournment of the annual meeting of stockholders of Vertical Capital Income Fund (NYSE: VCIF) (the Fund), which was scheduled to be held on August 30, 2019.
We urge the board to (1) immediately announce a contingency plan for managing the Fund after September 11, and (2) reconsider whether the Fund should be dissolved."
Bulldog holds approximately 9% of the outstanding common stock of the Fund.
Bulldog Investors is an SEC-registered investment adviser that manages the Bulldog Investors group of private funds, Special Opportunities Fund, Inc. (NYSE:SPE), a registered closed-end investment company, and separately managed accounts.

Bulldog Investors to Solicit Proxies for Annual Meeting of Vertical Capital Income Fund

Retrieved on:

Monday, July 29, 2019

Professional services, Finance, Finance, Money, Investment, Phillip Goldstein, Investment funds, Closed-end fund, Funds, Institutional investors

Bulldog Investors, LLC (Bulldog) today announced that it will solicit proxies for the annual meeting of shareholders of Vertical Capital Income Fund (the Fund) (NYSE: VCIF) to oppose the approval of a new investment advisory agreement between the Fund and Oakline Advisors, LLC and the re-election of Robert Boulware to the Funds Board of Trustees.

Key Points:

Bulldog Investors, LLC (Bulldog) today announced that it will solicit proxies for the annual meeting of shareholders of Vertical Capital Income Fund (the Fund) (NYSE: VCIF) to oppose the approval of a new investment advisory agreement between the Fund and Oakline Advisors, LLC and the re-election of Robert Boulware to the Funds Board of Trustees.
Phillip Goldstein, a managing member of Bulldog, commented: After the Fund converted to a closed-end fund two months ago, the stock price immediately collapsed.
Bulldog beneficially owns approximately 7.6% of the outstanding common stock of the Fund.
Bulldog Investors LLC is an SEC-registered investment adviser that manages the Bulldog Investors group of private funds, Special Opportunities Fund, Inc. (NYSE:SPE), a registered closed-end investment company, and separately managed accounts.

High Income Securities Fund to Implement Transitional Investment Strategy

Retrieved on:

Thursday, April 11, 2019

Professional services, Banking, Finance, Finance, Money, Economy, Phillip Goldstein, Investment management, Investment company, Investment, Funds, Financial markets

High Income Securities Fund (NYSE: PCF) (the Fund) today announced that the Board of Trustees has determined to implement a Transitional Investment Strategy.

Key Points:

High Income Securities Fund (NYSE: PCF) (the Fund) today announced that the Board of Trustees has determined to implement a Transitional Investment Strategy.
During this transitional period, the Board has determined that the Fund should continue to be internally managed and, within the parameters of its existing investment policies and restrictions, invest in securities that are likely to generate more income.
It is expected that the primary focus of the Transitional Investment Strategy will be to acquire discounted shares of income-oriented closed-end investment companies and business development companies.
A Transitional Investment Committee of the Board comprised of Phillip Goldstein, Andrew Dakos, and Rajeev Das will be responsible for implementing the Transitional Investment Strategy.