Saba Capital Submits a Shareholder Proposal to Clough Global Opportunities
February 13, 2017 at 02:15 pm EST
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On February 10, 2017, Saba Capital Management, L.P. submitted to Clough Global Opportunities Fund a proposal pursuant to Rule 14a-8 promulgated under the Securities Exchange Act of 1934. Saba Capital stated that the proposal requests that the Board of Trustees of the Fund take all necessary steps in its power to declassify the Board so that all directors are elected on an annual basis starting at the next annual meeting of shareholders.
Clough Global Opportunities Fund (the Fund) is a closed-end management investment company. The Fundâs investment objective is to provide a high level of total return and current income. It seeks to achieve its objective by applying a fundamental research-driven investment process. It will invest in equity and equity-related securities, as well as fixed-income securities, including both corporate and sovereign debt. Its investment portfolio includes common stocks, preferred stocks, corporate bonds, convertible corporate bonds, asset-backed securities, convertible corporate bonds, and government and agency obligations. It invests in various sectors, such as consumer discretionary, energy, financials, healthcare, industrials, information technology, real estate, and communications services. The Fund holds investments in various countries, including the United States, China, France, Germany, Switzerland, Canada, and Hong Kong. Investment advisor of the Fund is Clough Capital Partners L.P.